uShaka Marine World gets R14 million cash lifeline
The eThekwini Municipality has approved a R14 million financial injection for uShaka Marine World, in a bid to keep the iconic Durban theme park operational amid ongoing financial distress.
The majority of councillors voted in favour of the funding, which will go to Durban Marine Theme Park (DMTP), the municipal entity that manages uShaka's operations.
The park, once a crown jewel of Durban tourism, has been plagued by cash flow constraints linked to its current business model and institutional structure.
Officials say that during low trading periods, the park fails to generate enough income to cover mandatory expenses – causing it to rely heavily on peak-season surpluses.
Historical debt has further weakened the park's ability to remain solvent throughout the year.
Thembo Ntuli, ANC councillor and Chairperson of the Economic Development and Planning Committee, defended the move, calling it a 'strategic investment' rather than a bailout.
'Without this funding, the park may be forced to scale down or suspend operations, putting jobs, tourism revenue, and the city's reputation at risk,' Ntuli said.
The funding aims to stabilise uShaka Marine World as a 'going concern', warding off the risk of job losses and a potential decline in domestic and international tourism revenue for the city and province.
The DMTP has committed to finalising a turnaround strategy by July 2025, which will outline measures to resolve the theme park's operational inefficiencies and improve long-term sustainability.
A new credit agreement is also being explored to help restructure and settle the park's existing debt burden, with a view to enhancing liquidity and operational capacity.
uShaka Marine World remains a key tourism anchor for both Durban and KwaZulu-Natal.
The facility, which includes a water park, aquarium, and entertainment complex, draws thousands of visitors annually and contributes significantly to local economic activity.
Operations at the park are overseen by the South African Association for Marine Biological Research (SAAMBR), a non-profit organisation focused on marine education and conservation, while the municipality continues to fund the park's broader operations.
With the approved funding, the city hopes to preserve one of its most recognisable attractions and secure its role as a driver of economic growth, employment, and tourism in the region.
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If a salaried employee incurs home office expenses in the production of employment income, those expenses will conceptually fall within the scope of Section 11(a). "It is important when claiming home office expenditure that Section 11(a) is applied in conjunction with the limitations imposed by Section 23.' Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading The tax consultant said Section 23(b) imposes a specific prohibition against claiming deductions for expenses related to premises used for "domestic or private" purposes. She said there is, however, an exception where there is a dedicated area used for the purposes of employment, that area is specifically equipped for such employment and the area is regularly and exclusively used for employment. For salaried employees (not commission earners), Kumalo said it is required that more than 50% of their duties must be performed in the home office and the home office must be a clearly defined and exclusive workspace. She said for full-time remote workers with a defined, exclusive home office, this meant they may qualify-in theory. Many salaried employees meet the conditions under Section 11(a) and 23(b), which often raises hopes for a successful claim, Kumalo said. She added that the biggest hurdle comes in Section 23(m), which disallows most deductions under Section 11 for employees who earn remuneration (i.e., salary) and do not earn more than 50% of that income as commission or variable-based remuneration. Tax Consulting South Africa said that for taxpayers who earn a fixed salary only, Section 23(m) prohibits deductions for most expenditure, losses or allowances that would otherwise be allowable under Section 11(a). It said only expenses directly tied to the use of the premises, such as rent, electricity, and cleaning, may be considered and only under very specific conditions. In short, Kumalo said, while Section 11(a) allows the deduction of qualifying expenses, Section 23 (b) adds strict conditions for home office use, and Section 23(m) disallows most deductions for salaried earners. 'In practice, this means that even if the general and home-office-specific conditions are met, fixed-salary earners are still barred from deducting most business-related expenses, including internet and cell phone costs, accounting fees, and stationery.' Sharing a professional tip, the consultant said if one is a fixed-salary earner working from home full-time and wish to claim deductions, they must ensure that their employer provides a formal letter confirming remote work, they have a dedicated, exclusive workspace, more than 50% of the duties are performed in that space and the claim is limited to premises-related expenses. Even then, Kumalo said SARS may still challenge deductions beyond the narrow exemptions outlined above. She said that, therefore, the onus is on the taxpayer to prove that the deduction should be allowed. The firm said that in preparation for the 2025 Tax Filing Season, taxpayers must be reminded that SARS applies the rules around home office deductions strictly and conservatively, particularly for salaried employees. Taxpayers are advised to consult a qualified tax practitioner before submitting any home office-related claims to avoid audit risk, disputes, and potential penalties, it warned. 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