1602
Residential buildings
Profit Code
1602
Loss Code
1603
Category
16 - Building and Construction
Description
SARS profit code 1602 (loss: 1603) classifies Residential buildings within main category 16 (Building and Construction). This code is used on the ITR14 company income tax return to indicate your business main source of income.
How to Use
When completing the ITR14, enter code 1602 in the profit code field if your business is primarily engaged in residential buildings. If your business made a loss, use code 1603 instead.
Note: The profit code is separate from the 5-digit SIC code also required on the ITR14. See our SARS tax guide for more details.
Other Codes in Category 16
| Code | Description |
|---|---|
| 1604 | Non-residential buildings |
| 1606 | Civil engineering |
| 1608 | Demolition and site preparation |
| 1610 | Electrical installation |
| 1612 | Plumbing |
| 1614 | Other construction |