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Thread: SARS gives R750 tax break for Fifa gear

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    SARS gives R750 tax break for Fifa gear

    The SA Revenue Service (Sars) on Thursday announced it would be giving tax exemptions of R750 on the purchase of Fifa-related products.

    "The exemption will only apply to 2010 Fifa World Cup related goods, such as t-shirts, jerseys and similar clothing, and match tickets," Sars said in a statement.

    The once-off exemption would be applicable to individuals for the 2010/11 year.

    The exemption would also benefit employers who had encouraged their employees to wear soccer gear.

    "In most cases these t-shirts, jerseys and similar clothing are acquired by the employees themselves. However, some employers are providing World Cup t-shirts, jerseys and match tickets to their employees at no or little cost," read the statement.

    These items from employers were usually taxed as a "fringe benefit". However, the tax exemption would create a limited exception to this rule. - Sapa

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    Dave A (11-Jun-10)

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    Site Caretaker Dave A's Avatar
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    I suppose we better tell our staff to keep their slips and ticket stubs...
    The trouble with opportunity is it normally comes dressed up as work.

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