Limitation Amount for an Expense?

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fogeshan

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I'm trying to find out what the limit is for putting an item through the books of a company as an expense as opposed to an asset.

I've been told the limit is R5000. But I'm looking for confirmation from a government or finance website.
 
Its in the income tax act...forgot the paragraph though 10e maybe?

Dunno no longer use ZA tax so its a little fuzzy but you can check on acts.co.za

And yeah pretty sure its 5k...might actually be up to 7.5 by now but do check
 
It was 7k a few years back. Can't recall which schedule it is in the act. The paragraph is 11 (e) but the paragraph doesn't contain this info. It is in the schedule
 
Just found it, interpretation note no. 47 paragraph 4.3.5
The value still seems to be R7k unless I did not find the latest version in my search.
 
droidx said:
It was 7k a few years back. Can't recall which schedule it is in the act. The paragraph is 11 (e) but the paragraph doesn't contain this info. It is in the schedule
Click to expand...
*victory dance* recalled the paragraph correctly at least.
 
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