Latest News
November 9, 2021
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 9, 2021
As the risks of climate change become more intense and prevalent in today’s world, businesses are feeling the pressure to adapt and rethink their business models, […]
October 8, 2021
With effect from 1 March 2016, and in terms of paragraph 2(l) of the Seventh Schedule to the Income Tax Act, all employer contributions to a retirement fund on […]
October 8, 2021
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 […]
October 8, 2021
While the possibility of a global pandemic was always at the back of our minds, its emergence still managed to catch us off-guard and wreaked havoc […]
September 7, 2021
Since the POPI Act was introduced, many businesses have taken the time and effort to implement a POPI strategy that complies with the Act’s basic requirements. But for […]
September 7, 2021
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 […]
September 7, 2021
Employees often consider to immediately terminate their employment relationship due to a new opportunity arising or to avoid responsibility when faced with disciplinary procedures. Employment relationships are governed by an […]
August 19, 2021
Tax practitioners have been inundated with queries from clients on the possible relief offered by the South African Revenue Service (“SARS”) on the possibility of deducting […]
August 19, 2021
In the world of business, your earnings can make a large difference between getting investors to invest in your business and being completely overlooked. Many business […]
August 19, 2021
When it comes to the protection of personal information, there are two acts that govern businesses and those working with such information. The Protection of Privacy […]
June 7, 2021
Companies are often faced with the dilemma where employees are employed in one group entity, but another group entity pays the salaries of those employees. This […]
June 7, 2021
In June of 2020, tax practitioners and legal advisors were confronted with proposed new legislation regarding certain actions (or defaults) by taxpayers that would have constituted criminal acts. Currently, the Income Tax […]
June 4, 2021
When, in the early 1990s, the personal computer was becoming popular in South Africa, people were slowly but surely starting to migrate physical activity to a […]
June 4, 2021
On 12 January 2021, the Gauteng High Court delivered judgement in the matter of MTN (Pty) Ltd v CSARS (79960/2019) [2021], in respect of a declaratory order that […]
June 4, 2021
With the Budget Address by Finance Minister Tito Mboweni having passed, it is useful to consider how the proposed tax amendments raised during the Budget Speech […]
May 7, 2021
How well are you equipped for handling cyber threats to your business? Take the quiz below to test your knowledge on cybersecurity. You just received an […]
May 7, 2021
The right to privacy is enshrined in Section 14 of South Africa’s Constitution and we understand it to be a vital human right. It states: “Everyone has […]
May 7, 2021
The in duplum rule originated from the South African common law and has been applied through South African case law for over 100 years. The rule aims to protect […]
May 7, 2021
Since the introduction of the Tax Administration Act in 2011, which aimed to consolidate most of the administrative matters in tax acts, taxpayers have become ever more […]
April 7, 2021
As the traditional winter hunting season approaches and South African borders are (somewhat) more open after the stricter COVID-19 lockdown, it is important revisit the Value-Added Tax (VAT) impact […]
April 7, 2021
As a result of the specific nature of goods, it is common practice that certain recipients of goods and services “self-invoice” when they receive goods or […]
April 7, 2021
The Tax Administration Act provides for the audit and verification of taxpayers’ tax returns for all taxes administered by the Commissioner for the South African Revenue […]
April 7, 2021
It often happens that a person may receive remuneration and other similar amounts (for services rendered or to be rendered, or by virtue of employment or […]
March 15, 2021
Finance Minister Tito Mboweni delivered his third annual budget address on 24 February 2021. The corporate tax rate reduction from 28% to 27% for years of assessment commencing on or after […]
March 15, 2021
Taxpayers who make use of the South African Revenue Service’s (SARS) electronic filing system (or as it is generally known, eFiling) will know that, in addition to containing a history […]
March 15, 2021
Finance Minister Tito Mboweni delivered his third annual budget address on 24 February 2021. Below we highlight some of the significant proposals, which will likely be contained in the Draft […]
March 15, 2021
It is a thing of human psychology to be aware of the potential danger in our surroundings, which makes it very easy for us to keep […]
February 10, 2021
A usufruct is a limited real right in property. The usufruct construct takes the form of a common-law personal servitude, which, as a limited real right, […]
February 10, 2021
As a manager of an organisation, there is a great responsibility for decision making. The question lies in how a manager can utilise accounting information to […]
February 10, 2021
Many South Africans who simultaneously emigrate and cease to be South African tax residents are faced with a situation where the sale of a fixed property has not […]
February 10, 2021
The COVID-19 pandemic has spread across the globe and left economic destruction in its path. Now, more than ever, it is of utmost importance to take […]
December 15, 2020
Data is everywhere. In fact, because of the nifty autosave setting on the word processer used for writing this sentence, new information is being added to […]
December 15, 2020
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 […]
December 15, 2020
The last several years have seen an increase in “smart accounting systems” that have online capabilities and that can integrate with various other business solutions. These […]
December 15, 2020
Whenever humanity faces a problem as tremendous as a global pandemic, it unequivocally necessitates societal change. In a pandemic, these changes are often tangible as they disrupt the […]
November 9, 2020
Since the POPI Act came into effect on the 1st of July 2020, many businesses have had to rethink the way that they use and store information […]
November 9, 2020
The exodus of South Africans to foreign jurisdictions has been well publicised, and due to this, much has been written about the so-called “exit tax” that applies when one ceases […]
November 9, 2020
The importance of networking – especially during COVID-19 – should not be overlooked. While many business owners have been struggling to stay afloat in the economic downturn that has resulted […]
November 9, 2020
In addition to tax liabilities (tax capital amounts), taxpayers are also subject to an array of penalties and interests in respect of late payments, understatements, specific punitive […]
September 30, 2020
In 2001, South Africa, like many other countries, introduced capital gains tax aimed at levying capital gains tax on the gain made from the disposal of […]
September 30, 2020
In terms of the Tax Administration Act, the South African Revenue Service (“SARS”) can issue Binding General Rulings (“BGR”) on matters of general interest or importance and clarifies the […]
September 30, 2020
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 […]
September 30, 2020
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 7, 2020
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 […]
September 7, 2020
With the 2020 tax filing season in full swing, many taxpayers are likely to engage in dispute proceedings as their income tax assessments are issued by SARS. This will particularly be the case […]
September 7, 2020
With the 2020 tax filing season in full swing, many taxpayers will likely engage in dispute proceedings as SARS issues their income tax assessments. This will particularly be […]
September 7, 2020
There’s a wonderful thing about the way that our minds and bodies function to keep us healthy. Throughout our nervous systems, our bodies are constantly processing information and […]
August 13, 2020
Decisions of South Africa’s courts are an essential source of law. The courts uphold and enforce the Constitution and develop common law that is consistent with […]
August 13, 2020
In terms of the Tax Administration Act, the South African Revenue Service (“SARS”) can issue, in response to an application, Binding Private Rulings (“BPR”) and clarifies how the Commissioner would […]
August 13, 2020
The last few months have been extremely tough for small business owners as a result of the global COVID-19 pandemic, and various lockdown measures that have created a challenging trading […]
August 13, 2020
The tax season is swiftly approaching. For many people, it’s a time of the year that they dread. When it comes down to it, tax can […]
July 8, 2020
As the old adage goes, change is as good as a holiday. But the way that the novel coronavirus has shaken up the world we live […]
July 8, 2020
Interpretation Note 30 (“IN 30”) by the South African Revenue Service (“SARS”) explains the requirements that need to be adhered to and prescribes the documentary proof, […]
July 8, 2020
When businesses expand, they often look beyond national borders. With such an expansion, there are several added advantages for establishing a holding company, which then owns […]
July 8, 2020
The purpose of double tax agreements (“DTA” or “treaty”) between the tax administrations of two countries is to enable the administrations to eliminate double taxation, where […]
June 2, 2020
Decisions of South Africa’s courts are an essential source of law. The courts uphold and enforce the Constitution and develop common law that is consistent with […]
June 2, 2020
Decisions of South Africa’s courts are an essential source of law. The courts uphold and enforce the Constitution and develop common law that is consistent with […]
June 2, 2020
Decisions of South Africa’s courts are an essential source of law. The courts uphold and enforce the Constitution and develop common law that is consistent with […]
June 2, 2020
Decisions of South Africa’s courts are an essential source of law. The courts uphold and enforce the Constitution and develop common law that is consistent with […]
April 30, 2020
The Supreme Court of Appeal (“SCA”) delivered judgement on 25 March 2020 in a matter that primarily deals with gains or losses caused by foreign exchange […]
April 30, 2020
In a judgment delivered on 17 February 2020, the Gauteng High Court dealt with a matter regarding a “record of review”, and its relevance relating to […]
April 30, 2020
On 3 April 2020, the Supreme Court of Appeal delivered a judgement against Diageo South Africa (Pty) Ltd (“Diageo SA”) in a value-added tax (“VAT”) matter […]
April 30, 2020
Many business transactions are concluded in terms of section 42 of the Income Tax Act. This section essentially allows a transfer of an asset by a […]
April 22, 2020
Section 9HA of the Income Tax Act deals with deemed disposals by a deceased person. This section of the Act often causes some confusion, especially where […]
April 22, 2020
On 21st April 2020 President Ramaphosa announced additional measures to assist employers to provide financial stability to their employees. One of these measures includes a 35% […]
April 22, 2020
Binding Class Rulings (BCR) are issued in response to applications by a specific class of taxpayers (usually persons that will have the same tax consequences apply […]
April 22, 2020
Many business transactions are concluded in terms of section 42 of the Income Tax Act. The section essentially allows a transfer of an asset by a […]
March 6, 2020
One of the most important announcements made by Finance Minister Tito Mboweni in his 2020 Budget Speech is the tax exemption threshold on “expat tax” that is being raised to R1.25 million as of 1 […]
February 26, 2020
If you can believe it, we are already at the end of January. With all the beginning-of-year struggles and excitement, there is something to keep in […]
February 26, 2020
In terms of section 99 of the Tax Administration Act, 28 of 2011, an assessment may not be made three years after the date of an […]
February 26, 2020
With the tax filing season for individuals now closed, taxpayers may find themselves with tax debt that is due. This may be due to administrative penalties […]
February 26, 2020
The South African Revenue Service (“SARS”) issued Binding Private Ruling 336 on 6 December 2019. In terms of this ruling, a listed resident company (“the Company”) […]
January 31, 2020
Farming is a qualifying activity under the Diesel Refund Scheme. Most farming enterprises will qualify to be registered for the Diesel Refund Scheme. The person carrying on the farming enterprise […]
January 31, 2020
Corporate transactions are a way of everyday life. Asset acquisitions, company acquisitions, mergers, and asset for share transactions are far the more common than one may […]
January 31, 2020
Section 24C of the Income Tax Act[1] (hereinafter referred to as “the Act”) allows a deduction, from income, received by or accrued to a taxpayer in terms […]
January 31, 2020
As the 2020 tax year draws to a close, we reflect on some of the significant highlights (and lowlights) during the year. Significant judgments Our courts […]
January 15, 2020
On 15 November 2019, the Cape Town Tax Court handed down judgement in ITC24614. It is yet another judgement concerned with the distinction between expenses of […]
January 15, 2020
Recently, much emphasis has been placed on the ever-growing Venture Capital Company (“VCC”) regime, particularly on the tax benefits for investors, in terms of which they […]
January 15, 2020
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 […]
October 8, 2019
Section 2(1) of the Transfer Duty Act[1] imposes transfer duty on the value of any property acquired by any person by way of a transaction, or […]
October 8, 2019
The distinction between amounts received of a capital nature as opposed to a revenue (or income) nature is essential for income tax purposes. Non-capital amounts received, […]
October 8, 2019
Investing in a business is a daunting decision. Whether you are investing in a new or established enterprise, there will always be risk involved. The best […]
October 8, 2019
Non-profit organisations can apply for approval as a “public benefit organisation” (“PBO”) in terms of section 30(3) of the Income Tax Act[1] in order to qualify […]
September 25, 2019
More and more employers are allowing salaried employees to work from home to avoid wasting productive hours while commuting. Such employees may claim a home office […]
September 25, 2019
Companies, particularly listed companies, offer employees so-called share options (also referred to as share incentive schemes or employee share ownership plans (ESOPs)) as a form of […]
September 25, 2019
There are a few instances where VAT is not charged at the standard rate of 15%. In the following newsletter, we distinguish between the different supplies […]
September 25, 2019
Bitcoin, Ether and Litecoin. These are some of the most prominent cryptocurrencies on the market today. Bitcoin is by far the best-known cryptocurrency due to the […]
August 12, 2019
The South African Revenue Service (“SARS”) issued Interpretation Note 112 on 21 June 2019 to provide guidance on the interpretation and application of the audit certificate […]
August 12, 2019
As payroll administrators ourselves, we encounter a few frequently asked questions that employers, business owners or those responsible for payroll administration within organisations struggle with. Below […]
August 12, 2019
The 2019 tax legislation amendment cycle commenced on 25 June, when National Treasury issued the initial batch of the Draft Taxation Laws Amendment Bill which covers […]
August 12, 2019
The South African Reserve Bank (“SARB”) is the central bank of the Republic of South Africa and the primary purpose is to achieve and maintain price […]
June 27, 2019
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 […]
June 27, 2019
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 […]
June 27, 2019
Section 7C of the Income Tax Act, No 58 of 1962 (the Act), was enacted effective 1 March 2017 and serves as an anti-avoidance measure aimed […]
June 27, 2019
The South African Reserve Bank (“SARB”) is the central bank of the Republic of South Africa and the primary purpose is to achieve and maintain price […]