Tax

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 […]
October 28, 2020

Bursaries and scholarships: The tax rules are changing

Over the past several years, many employers and employees have made use of the beneficial tax treatment of bursary and scholarship schemes, as provided for in […]
September 11, 2020

Pasop vir swendelary tydens die belastingseisoen

Aan die einde van Augustus 2020 was ‘n groot kredietburo in Suid-Afrika die teiken van ‘n data-inbraak waartydens miljoene privaat datarekords van individue en maatskappye gekompromitteer is. Sulke data-lekkasies, tesame met die belastingindiening seisoen, bied die […]
August 26, 2020

Belastinggevolge van leningsrekeninge wat met dividendbetalings afgehandel is

Ingevolge die Wet op Belastingadministrasie kan die Suid-Afrikaanse Inkomstediens (SAID), in antwoord op ’n aansoek, bindende privaatmenings (BPR) uitreik en duidelik maak hoe die Kommissaris die bepalings van […]
May 19, 2020

VERVOERDIENSTE AAN WERKNEMERS: BINDENDE ALGEMENE BESLISSING 50

Ingevolge die Wet op Belastingadministrasie kan die Suid-Afrikaanse Inkomstediens (“SAID”) Bindende Algemene Beslissings (“BAB“) oor sake van algemene belangstelling of belangrikheid uitreik en die kommissaris se toepassing of interpretasie van die belastingwet rakende hierdie sake duidelik maak.   BAB 50 gee duidelikheid oor die sogenaamde ‘geen waarde‘ bepaling ten opsigte van die lewering van vervoerdienste deur ’n werkgewer aan sy werknemers.  Agtergrond  Werkgewers lewer gereeld vir werknemers vervoerdienste vanaf hul huise na die werkplek. Alhoewel dit meestal van toepassing is op plekke waar werk afgeleë is, soos in die boerdery– of mynbousektor, het die lewering van sulke dienste ook algemeen geword in stedelike gebiede waar verkeersopeenhopings aansienlike ure van die werknemers in beslag neem. Ingevolge die Sewende Bylae tot die Inkomstebelastingwet, wat oor byvoordele handel, is hierdie vervoerdienste belasbaar as ’n byvoordeel in die hande van werknemers. Die voordeel kan egter geen waarde trek as daar nie aan sekere voorwaardes voldoen word nie, wat effektief geen belastinggevolge vir die werknemer tot gevolg het nie. Verwarring het dikwels ontstaan ​​oor die toepassing van die ‘geen-waarde‘-bepaling, veral waar die vervoer aan ’n derde party uitgekontrakteer word.  Paragraaf 2(e) van […]
March 12, 2020

ARE MY DONATIONS BEING TAXED?

BPR 338 deals with the tax treatment of payments made to a Public Benefit Organisation (PBO) at a fundraising event, under section 30 of the Income […]
March 12, 2020

DO YOU FALL WITHIN THE “CONNECTED PERSONS” DEFINITION?

On 28 January 2020, SARS released interpretation note 67 providing guidance on the term “connected persons” in section 1(1) of the Income Tax Act. The interpretation […]
March 12, 2020

“UITGANGSKOSTE” MET BEËINDIGING VAN BELASTINGINWONERSKAP

Suid-Afrikaanse wetgewende gevolge van die staking van verblyf in Suid-Afrika Artikel 9H van die Wet op Inkomstebelasting handel oor aangeleenthede rakende die beëindiging van inwonerskap in Suid-Afrika. In hierdie artikel word in wese gesê dat indien ’n persoon wat ’n inwoner is, gedurende enige […]
March 12, 2020

ARTIKEL 7C – ’N PRAKTIESE UITEENSETTING

Wat is artikel 7C? Hierdie artikel van die Inkomstebelastingwet is ’n teenvermydingsmaatreël wat gerig is op transaksies tussen verbonde persone en trusts, waar ’n trust befonds word deur […]
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