SKENKINGBELASTING: WIE, WAT, WAAR EN HOE?
Is jou kennis genoegsaam oor skenkingsbelasting? Dink jy dalk daaraan om ń familielid finansieel by te staan, of om ń kind te help met ń deposito vir die aankoop van ‘n huis of motorvoertuig? Voor jy die transaksie aangaan is daar ń paar dinge wat jy in gedagte moet hou wanneer dit by ń skenking […]
FOREIGN CURRENCY: CAPITAL GAIN
With the fast approaching 2019 tax season, taxpayers who have realised a capital gain in a foreign currency should take note of the special rules that apply to the translation of those gains to Rand. Generally, there are two ways of translating a capital gain or loss into Rand – a “simple method” and a […]
2019 TAX SEASON IS NOW OPEN
The 2019 tax season officially started on 1 July 2019. Different filing periods apply, depending on the way a taxpayer chooses to submit their return: Taxpayers who use e-filing to submit their returns have from 1 July 2019 until 4 December 2019. Provisional taxpayers have until 31 January 2020. Taxpayers who prefer to visit a […]
TAX SEASON 2019: WHAT CAN YOU EXPECT?
SARS recently released two media statements, in which it notes several improvements made to eFiling for the 2019 tax season, including the issue of customised notices indicating specific documents required in the event of an audit or verification and a simulated outcome issued before a taxpayer has filed. What is the tax season? Tax season […]
SARS ON MANAGING PAYROLL TAXES
The South African Revenue Service (“SARS”) has recently made changes with regards to the management of payroll taxes in order for employers to more effectively manage their own accounts by way of a number of functions and tools. SARS states that the aim of these changes is to allow employers to ensure that all their […]
SALE OF SHARES: INCOME VS REVENUE – BACK TO FIRST PRINCIPLES
The distinction between amounts of a capital nature as opposed to a revenue (or income) nature is essential, and over the years, few other topics have enjoyed so much attention in our tax courts. Although most taxpayers appreciate this distinction, it is essential to revisit the core principles from time to time, to ensure that […]
VAT REGULATIONS DEALING WITH THE SUPPLY OF ELECTRONIC SERVICES
Since 2015, foreign suppliers of electronic services (such as audio-visual content, e-books etc.) in South Africa are deemed to operate an enterprise for VAT locally. Although the regime has been in place for several years, new regulations in this regard are continuously published, the latest being on 18 March 2019, with an effective date of […]
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, and rightfully so. The basic premise is that even though you disagree with an amount of tax, once you have been assessed by SARS, the amount becomes due and […]
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 principle to attack the validity of transactions and arrangements, namely the common law doctrine of simulation, or the plus valet doctrine. This is a fundamental principle of the South […]
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 individu, maatskappy, trust of enige ander entiteit) korrek is, deur dit te bevestig en op te dateer met gebruik van die RAV01-vorm. Die RAV01-besonderhede kan op twee maniere bevestig […]