Hide
Earn under R350,000? Click here to see why you still need to file to get your Tax Refund.
CLOSE
Get SARS Tax Deadlines in your Inbox
 

We'll tell you when you need to file, along with tax tips and updates.
Try Tim Now

Is a loan to an employee a S11a deduction?

Posted 24 January 2015 under Tax Questions



Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →
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 Questions and tagged , , . Bookmark the permalink.

TaxTimTaxTim 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.


Get SARS Tax Deadlines in your Inbox
 

We'll tell you when you need to file, along with tax tips and updates.

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →