Tax

June 21, 2022

Korporatiewe inkomstebelasting: Vermindering van koers na 27% en beperking op benutting van verliese

Die Minister van Finansies het in die 2022 Begrotingsrede aangekondig dat korporatiewe inkomstebelasting koers (CIT) tot 27% verlaag sal word vir jare van aanslag wat op […]
May 11, 2022

PAYE and non-residents

Employment income is generally taxed where the services are physically exercised. The place of contract conclusion, where the employer is based and where the remuneration is […]
May 10, 2022

SARS and the never ending cycle of inappropriate verifications

Taxpayer complaints of this nature are now classified as systemic. By Amanda Visser 4 May 2022 The Office of the Tax Ombud recently identified repeated verifications of the […]
April 11, 2022

Analysing tax exemption for dividends

Dividends are a valuable part of many shareholders’ income, but even though they are exempt from regular income tax, it does not mean that they are […]
March 24, 2022

How will the 2022 Budget changes affect you?

The annual National Budget Speech was delivered on 23 February 2022 by Finance Minister Enoch Godongwana. Practitioners are getting to grips with some of the more […]
February 8, 2022

Transfer of assets between spouses: what are the tax implications?

Section 9HB of the Income Tax Act provides for a roll-over of a capital gain or loss when an asset is transferred between spouses during their lifetimes. […]
January 24, 2022

VAT: Special dispensation for motor dealers expired

Motor dealers may in certain instances pay an amount to a customer for a second-hand vehicle over the generally accepted trade-in market value reflected in the […]
January 24, 2022

Who qualifies for a special trust and how is it taxed?

Unlike “conventional trusts” that are taxed at a flat tax rate, a special trust is taxed on the same sliding scale applicable to natural persons. The […]
November 16, 2021

Disputing SARS decision and assessments

A taxpayer who is aggrieved by an assessment or decision of SARS against that taxpayer has the right to dispute that assessment or decision. If an […]
November 11, 2021

Barter transactions: What is the tax cost of my asset?

Barter transactions are commonplace in today’s commercial environment. Parties exchange goods or services without a cash transaction underpinning it. The question is, “What happens when I sell the asset […]
November 11, 2021

Transfer of assets between spouses: what are the tax implications?

Section 9HB of the Income Tax Act provides for a roll-over of a capital gain or loss when an asset is transferred between spouses during their lifetimes. […]
September 9, 2021

More time to benefit from the learnership tax incentive

The Learnership Tax Incentive, which was introduced in the Income Tax Act on 1 October 2001, is a programme that supports skills intensity through the tax […]
September 9, 2021

Balancing your business’s losses and taxes

In line with the 2020 Budget Announcement, Government proposes to broaden the corporate income tax base by restricting the offset of the balance of assessed losses […]
May 18, 2021

Tax neutral asset for share transactions

The Income Tax Act contains various provisions in terms of which transactions can occur between specified parties without adverse tax consequences being incurred in respect of those […]
November 26, 2020

What Happens When Debt is Waived?

Many natural persons or trust shareholders in companies are confronted with the unintended tax consequences of owing an amount on a loan account to the company in which they […]
November 26, 2020

Beware of scams during filing season

In late August 2020, a large credit bureau in South Africa was the target of a data breach where millions of private individual and company data records were compromised. This data leakage, coupled with the tax filing season, makes for the perfect opportunity […]
November 19, 2020

Scammers posing as SARS officials are on the rise

In late August 2020, a large credit bureau in South Africa was the target of a data breach where millions of private individual and company data […]
November 19, 2020

What happens when debt is waived?

Many natural persons or trust shareholders in companies are confronted with the unintended tax consequences of owing an amount on a loan account to the company in which they […]
October 28, 2020

Is SARS wriggling out of its obligations?

Section 45 of the Value-Added Tax Act makes provision for the payment of interest on delayed VAT refunds. In terms of section 45(1) of the Act, the South African […]
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