Tax

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 […]
April 28, 2020

TECHNOLOGY AND ITS IMPACT ON THE FINANCIAL WORLD

Accounting has moved from pen and paper to the cloud, monthly payments can be done through online banking apps, and big purchases like houses and other […]
February 18, 2020

TIME VALUE OF MONEY – HISTORICAL TAX RATES

It has often been said that inflation is the destroyer of wealth. To put this statement into a tax perspective, it is interesting to have a […]
November 20, 2019

FOREIGN EMPLOYMENT INCOME: TAXATION

South Africa has a residence-based tax system, which means residents are taxed on their worldwide income, regardless of where that income was earned. South African tax […]
May 22, 2019

VALUE-ADDED REMARKS ON VALUE-ADDED TAX (VAT)

VAT is an integral part of our economic society and is something that influences everyone, especially businesses in South Africa. In this article, we will discuss […]
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 […]
June 11, 2018

TAX DEDUCTIONS AGAINST SALARY EARNINGS

Our clients who earn only a salary will know that very few tax deductions are available against salary income for income tax purposes and whereby they […]
June 11, 2018

2018 TAX SEASON: SARS SHORTENS SUBMISSION PERIOD

The annual tax filing season is upon us and acting SARS Commissioner, Mark Kingon, announced that the season will open on 1 July 2018 for eFilers. […]
May 8, 2018

VAT RATE INCREASE FROM 14% TO 15% – HOW TO COMPLETE THE VAT201

The Minister of Finance announced a VAT rate increase from 14% to 15% effective 1 April 2018 in the 2018 Budget Speech. To assist you in preparing […]
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 […]
January 18, 2018

SECURITIES TRANSFER TAX

Levied at 0.25% of the value of shares transferred,[1] the securities transfer tax (“STT”) is a tax often neglected and forgotten. Introduced in 2008, the tax […]
June 12, 2017

WITHHOLDING TAX ON PROPERTY SOLD BY NON-RESIDENTS

A remarkable number of non-residents own property in South Africa. While non-residents are not subject to South African capital gains tax generally, an exception is to […]
April 20, 2017

INTEREST FREE LOANS CROSS BORDER

A consideration of the tax consequences of interest free loans will be incomplete if not also considered in the context of interest free debt funding being […]
April 20, 2017

INTEREST FREE LOANS WITH COMPANIES

The latest annual nation budget presented in Parliament proposed the dividends tax rate to be increased with almost immediate effect from 15% to 20%. The increased […]
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 […]
March 14, 2016

ASSET-FOR-SHARE TRANSACTIONS: TAX FREE RESTRUCTURE

The Income Tax Act, 58 of 1962, contains several so-called ‘group relief’ provisions in terms whereof corporate restructures can take place on a tax neutral basis. […]
March 14, 2016

TRANSACTIONS REQUIRED TO BE REPORTED TO SARS IN TERMS OF THE TAX ADMINISTRATION ACT

Certain transactions are required to be reported to the South African Revenue Service (‘SARS’) as and when entered into (section 37 of the Tax Administration Act, […]
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