On 3 September 2014, the South African Revenue Service published an updated guide on the country's urban development zone (UDZ) tax incentive. The UDZ incentive, announced in 2003, promotes investment in 16 designated inner cities through accelerated depreciation allowances for qualifying buildings. It was set to expire 31 March 2014, but has been extended to 31 March 2020.
The accelerated depreciation allowance applies for the costs of newly erected commercial and residential buildings in a…