Page 17 - P6 Slide Taxation - Lecture Day 5 - Trading stock

Recoupment

• There shall in the year of assessment in which

any qualifying share is disposed of by the

taxpayer be included in the taxpayer’s income

any expenditure or losses incurred in respect of

such qualifying share and allowed as a

deduction from the income of the taxpayer

during that or any previous year of assessment

in terms of section 11: Provided that this

subsection must not apply in respect of any

expenditure or loss to the extent that the amount

of that expenditure or loss is taken into account

in terms of section 8 (4) (a) or section 19.

17