Income Tax

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 […]
May 8, 2018

“BOOKING” CAPITAL LOSSES ON SHARES IS NOT THAT EASY

There is a number of techniques that taxpayers use to reduce their capital gains tax (CGT) exposure on long-term share investments. A common practice is to […]
November 21, 2017

DEDUCTIBILITY OF SED AND ED EXPENDITURE

The South African Revenue Service (“SARS”) recently issued a binding private ruling (“BPR”)[1] in which the income tax consequences of expenditure in respect of socio-economic development […]
September 29, 2017

EXPANDING THE CONTROLLED FOREIGN COMPANY REGIME

We have previously reported on the “controlled foreign company” (“CFC”) regime as contained in section 9D of the Income Tax Act, 58 of 1962. Briefly again, […]
August 17, 2017

CONTROLLED FOREIGN COMPANIES

Section 9D of the Income Tax Act[1] houses the South African “controlled foreign company”, or “CFC” regime. The provision’s aim is to effectively impute the income […]
July 5, 2017

THE 2017 TAX SEASON IS OPEN

The Commissioner for SARS recently published the annual notice to officially ‘open’ the 2017 tax season. Individuals are now able to file their annual income tax […]
June 12, 2017

EXEMPTION FOR FOREIGN SALARY EARNERS

South African tax resident individuals are liable to income tax on their worldwide income. In other words, where a South African tax resident individual were to […]
May 11, 2017

CAPITAL GAINS AND CANCELLED SALES

Many transactions in terms in which assets are sold are subject to suspensive conditions. In terms of such agreements, the sales transaction will only take place […]
October 12, 2016

ARE YOU A SOUTH AFRICAN TAX RESIDENT INDIVIDUAL?

The question of tax residence for individuals has always been relevant in South Africa. It appears as though we find ourselves in a country which has […]
September 8, 2016

YOUR PRIMARY RESIDENCE AND CAPITAL GAINS TAX

Capital gains tax is somewhat of a misnomer in that it does not represent a tax in and of itself, but rather operates to include a […]
September 8, 2016

HOW SOUTH AFRICAN DIVIDENDS ARE TAXED

Dividends received by a South African taxpayer are generally exempt from income tax. The major exemption though being dividends received from so-called REITs (these being some […]
August 22, 2016

THE 2016 TAX SEASON IS OPEN

As is the case every year, the Commissioner for SARS recently published the annual notice to officially ‘open’ the 2016 tax season. Individuals are now able […]
August 22, 2016

MISUSE OF ASSESSED LOSSES

An assessed loss for income tax purposes is a potentially valuable asset: it represents past losses made by a taxpayer which is able of being carried […]
June 8, 2016

MISUSE OF ASSESSED LOSSES

An assessed loss for income tax purposes is a potentially valuable asset: it represents past losses made by a taxpayer which is able of being carried […]
June 8, 2016

SALARY SACRIFICE SCHEMES – LATEST JUDGMENT BY THE SUPREME COURT OF APPEAL

Salary sacrifice schemes are popular in practice. Typically, they involve employers paying a decreased salary to their employees, with an added fringe benefit to make up […]
April 15, 2016

TAX FREE INVESTMENT SAVINGS ACCOUNTS

Our clients will have noted the various advertisements on radio and in the media generally of financial service providers inviting the public to invest in their […]
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