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Income Tax Act, 1962 (Act 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

[Heading amended 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.