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Income Tax Act, 1962 (Act No. 58 of 1962)


Seventh Schedule : Benefits or Advantages Derived by reason of Employment or the Holding of any Office

12. Subsidies in respect of debt

[Paragraph 12 heading of the Seventh Schedule substituted by section 99 of the Taxation Laws Amendment Act, 2015 (Act No. 25 of 2015)]


The cash equivalent of the value of the taxable benefit consisting of any subsidy in respect of the amounts of interest or capital repayments referred to in paragraph 2(g) or any subsidy contemplated in paragraph 2(gA) shall be the amount of such subsidy.


[Paragraph 12 substituted by section 49 of the Income Tax, 1995 (Act No. 21 of 1995)]