How improvements to buildings are dealt with?

The UDZ incentive will be calculated as follows in the case of an improvement to an existing building or part of a building which preserves the existing structural or exterior framework:
 
  • An amount equal to 20% of the cost pertaining to the improvement of the building in the year of assessment during which the part of the building so improved is brought into use by the taxpayer solely for the purposes of trade. No apportionment is required in case the building is brought into use during the year of assessment.

  • An amount equal to 20% of the cost in each of the four succeeding years of assessment. 
Last Updated: 14/12/2018 1:59 PM     print this page
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