Tag Archives: tax limitation

How the new assessed loss tax limitation works?

How the new assessed loss tax limitation works?

Previously, company losses could (subject to certain requirements) be offset against 100% of taxable income in the following year, with any balance rolling over to subsequent years. Under the new rules, an assessed loss can now only be set off against 80% of taxable income or R1 million – whichever is higher – in the […]