Tax breaks for FIFA gear
Fin24

Tax breaks for FIFA gear

2010-06-10 11:58

Johannesburg - 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

Comments
  • Ian D - 2010-06-10 13:12

    This is discriminatory!! The exemption should be R750.00 for all sporting goods and tickets, not just for FIFA and the 2010 World Cup. It should be made an annual exemption for the 2010/2011 tax year. All sporting codes and fans should benefit.

  • Freddy - 2010-06-10 19:48

    One shirt already costs that kind of money that SARS is stating as an tax break. Just as I thought there is a "snake in the grass". Typical financial politics!!

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