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Is a loan to an employee a S11a deduction?

Posted 24 January 2015 under Tax Q&A


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If a company borrows e. G R5000 to an employee, with no interest, Is it a S11 (a) deduction? where do I work it in, in the taxable income of a company?

This entry was posted in Tax Q&A and tagged , , . Bookmark the permalink.

TaxTim TaxTim says:
25 January 2015 at 21:47

It cannot be a deduction if you lend it to him, he will however have to pay tax on the interest he would have paid if he had borrowed the money - this would be a fringe benefit to him and taxable.


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