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April 11, 2019

RECENT COURT CASE ON THE IMPOSITION OF UNDERSTATEMENT PENALTIES

The Supreme Court of Appeal (“ZASCA”) delivered a judgment[1] on 26 February 2019 on the imposition of understatement penalties as provided for in the Tax Administration […]
April 10, 2019

REQUESTS FOR SUSPENSION OF PAYMENT FROM SARS

Since its introduction, the “pay now, argue later” rule relating to disputed amounts of tax has been and remains to be the subject of much controversy, […]
April 10, 2019

JOU LEWENDE HAWE VOER JAN TAKS

Die gesegde lui, daar is net twee dinge in die lewe wat seker is: die dood en belasting. Die twee loop dikwels hand-aan-hand en beide is […]
April 10, 2019

SARS SCAMS

Education and awareness around identity theft, phishing and other frauds have become part of life globally. If nothing else, scamsters are innovative and keep trying new […]
March 22, 2019

RING-FENCING OF ASSESSED LOSSES OF CERTAIN TRADES – PART II

Section 20A of the Income Tax Act[1]ring-fences losses incurred by natural persons from certain trades under specific circumstances. If applicable, the natural person will not be […]
March 22, 2019

VASTE EN VERGOEDENDE REISTOELAES

By die bepaling van die beste vergoedingspakket vir reisende werknemers, oorweeg Suid-Afrikaanse werkgewers en werknemers voortdurend die voordele van ’n reistoelaag, ’n vergoedende reistoelaag of albei. […]
March 22, 2019

RING-FENCING OF ASSESSED LOSSES OF CERTAIN TRADES – PART I

Persons are generally allowed to set off any losses incurred in respect of one trade against the income derived from another trade, thereby reducing their overall […]
March 22, 2019

DINK U DAARAAN OM ‘N BATE TE VERKOOP?

Wat gebeur wanneer u ’n bate verkoop? Wanneer u ’n bate verkoop of van die hand sit, realiseer u óf ’n wins óf ’n verlies uit […]
February 26, 2019

MANAGEMENT’S RESPONSIBILITY

Throughout the audit of a set of financial statements, the phrase “management/director’s responsibility” appears. It is included in the engagement letter, the financial statements and the […]
February 26, 2019

KORPORATIEWE BEHEER – FINANSIËLE JAAREINDE

Die finansiële jaar van ’n maatskappy staan bekend as die rekenkundige periode. Ingevolge artikel 27 van die Maatskappywet No. 71 van 2008 (“die Wet”), het elke […]
February 26, 2019

ZERO-RATING OF SERVICES TO NON-RESIDENTS

South African value-added tax (VAT) vendors are often unsure of the tax consequences of issuing invoices to foreign customers or clients and whether such services should […]
February 26, 2019

NON-RESIDENT SELLERS OF IMMOVABLE PROPERTY

Section 35A of the Income Tax Act[1] came into effect on 1 September 2007 and sets out the capital gains tax consequences of the sale of […]
January 21, 2019

ADMINISTRATIEWE OORTREDINGSBOETES VIR UITSTAANDE KORPORATIEWE INKOMSTEBELASTINGOPGAWES

Oor die algemeen moet alle geregistreerde maatskappye binne 12 maande na die einde van die maatskappy se finansiële jaareinde korporatiewe inkomstebelastingopgawes (CIT) indien. Dit is van […]
January 21, 2019

THE COMMON LAW DOCTRINE OF SIMULATION

In addition to specific anti-avoidance provisions and the general anti-avoidance provisions (GAAR) in the Income Tax Act,[1] the South African Revenue Service can apply another established […]
January 21, 2019

2018: ’N JAAR IN BELASTING

Ons kyk terug op sommige van die belangrike hoogtepunte (en laagtepunte) van die 2018 belastingjaar. Davis-belastingkomitee handel sy werk af Die Davis-belastingkomitee (DBK) is in 2013 […]
January 21, 2019

THE PUBLIC AUDIT AMENDMENT ACT: GROUNDBREAKING FOR SOUTH AFRICA IF PROPERLY IMPLEMENTED

On 21 November 2018, the 2017/2018 consolidated national and provincial audit outcomes report was released, which indicated a discouraging fourth consecutive year of regressive compliance with […]
November 14, 2018

WENKE OM GEREGISTREERDE BESONDERHEDE OP DATUM TE HOU

Voordat u jaarlikse opgawe voltooi word, is dit belangrik om seker te maak dat kontak-, adres-, bank- en openbare offisiersbesonderhede van die entiteit (hetsy vir ’n […]
November 14, 2018

DIFFERENT INTEREST RATES IN TAX

The Income Tax Act[1] contains definitions for various interest rates. These interest rates serve as the basis for interest calculations in income tax in different circumstances […]
November 14, 2018

DEDUCTION FOR PHOTOVOLTAIC SOLAR ENERGY PLANTS

Section 12B(1) and (2) of the Income Tax Act[1] provides for a 50/30/20 income tax deduction in respect of certain machinery or plant owned by the […]
November 14, 2018

ADDITIONAL CHANGES TO INCOME TAX RETURNS FOR TRUSTS

The South African Revenue Service (“SARS”) implemented several changes to theI (the ITR12T) on 17 September 2018. These changes are in addition to the changes already […]