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Does SARS recognise a tax loss as a deferred tax asset?

Posted 9 January 2014 under Tax Questions



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Hi Tim,
I am a provisional tax payer and for the 2015 tax year, I will have recorded a net income loss. Am I correct in saying that this will yield me a tax loss (deferred tax asset) which I can use to offset my taxable income in subsequent tax years?
The loss was substantial and I hope to be able to use the tax loss to offset my taxable income for at least 2 years.

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TaxTimTaxTim says:
10 January 2014 at 10:59

SARS does not recognize "Deferred tax assets" This is an accounting term, but generally assessed losses are carried forward into the next year (depending on the nature of the loss)


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