Draft Documents for Public Comment

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Latest draft uploaded for comment Look under: 10 October 2025

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10 October 2025

Income Tax Act, 1962

Draft Interpretation Note

Draft Interpretation Note 64 (Issue 5) – Income tax exemption: Bodies corporate, share block companies, and associations of persons managing the collective interests common to all members

Explanatory Note
This Interpretation Note provides guidance on the interpretation and application of section 10(1)(e), which exempts from income tax the levy income of a body corporate, a share block company, and any other association of persons. This Note is published as a draft for comment since technical changes were made, including the treatment of the carry-forward of assessed losses and retrospective approval of associations of persons.

Date published: 27 August 2025

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