- Flynote
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A company that excavates ground and digs up mineral-bearing ore for a fee on delivery to another entity that processes the ore, undertakes mining operations within the meaning of ss 1 and 15(a) of the Income Tax Act 58 of 1968. It is thus entitled to claim deductions of the full amount of capital expenditure on mining equipment in the tax year in which it is incurred, in terms of s 36(7C) of the Act.
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Cited documents 4
Judgment 3
- Armgold/Harmony Freegold Joint Venture (Pty) Ltd v Commissioner for the South African Revenue Services (703/2011) [2012] ZASCA 152 (1 October 2012)
- Commissioner for South African Revenue Services v Foskor (375/2009) [2010] ZASCA 45 (31 March 2010)
- Commissioner of the South Africa Revenue Service v Marula Platinum Mines Limited (218 of 2015) [2016] ZASCA 121 (22 September 2016)