This course provides a practical overview of assessed losses, including how losses brought forward may be utilised and set off against taxable income.

The session explores the trade requirement, commencement of trade, the facts and circumstances test, the 'six out of ten year' rule, fluctuating taxable income, and the SARS decision-making framework.

Topics Discussed:

• Utilizing an assessed loss brought forward
  • Definition of trade
  • The trade requirement
  • Commencement of trade
• Set-off of losses in the current year
  • General
  • Facts and circumstances test
  • The six-out-of-ten-year-rule
  • Fluctuating taxable income
  • Decision tree – produced by SARS – with minor modifications

All Included:

• Video presented course
• Downloadable course material
• Certificate of training
• Assessment (optional)
• SAIT Accredited (2 Verifiable CPD hours)