Zuydam | Tailored Accounting Solutions

Ring-fencing of assessed losses of certain trades – part 1

Persons are generally allowed to set off any losses incurred in respect of one trade against the income derived from another trade, thereby reducing their overall tax liability.   However, section 20A of the Income Tax Act[1]ring-fences losses incurred by natural persons from certain trades under specific circumstances. If applicable, the natural person will not […]

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