Income Tax Act, 1962 (Act No. 58 of 1962)
Exemption: Clothing and textile competitiveness program grants
Notice No. R. 538 of 2012
Notice No. R. 538
13 July 2012
I, Pravin Jamnadas Gordhan, Minister of Finance, hereby give notice that any grant received by or accrued to a person by virtue of the clothing and textile competitiveness program administered by the Department of Trade and Industry shall be exempt from normal tax with effect from 1 April 2009 under section 10(1)(y) of the Income Tax Act, 1962 (Act No. 58 of 1962).
P. J. Gordhan
Minister of Finance