The South African Revenue Service (SARS) recently published an updated interest rate Table 3 regarding the official interest rate for the taxation of interest-free or low-interest loans, which is reduced from 9.25% to 9.00% with effect from 1 October 2024. A taxable benefit (fringe benefit) arises if an employee incurs a debt in favor of the employer, any other person by arrangement with the employer, or an associated institution in relation to the employer, if no interest is payable or if the interest payable is less than the official rate of interest. The difference between the amount which would have...