Overview

The October 2024 Monthly Tax Update covered essential tax developments, including the Constitutional Court judgment in The Thistle Trust v CSARS on capital gains tax and understatement penalties. Key SARS documents were discussed, such as BGR 27 and Interpretation Note 83 regarding VAT, as well as the disposal of assets by deceased persons and inter-spousal transfers. The session also provided updates on small business tax, the Voluntary Disclosure Programme, and compliance risks related to crypto assets, helping participants stay compliant and advise clients effectively.

Webinar Content

Constitutional Court Judgment

• The Thistle Trust v CSARS [2024] ZACC 19
  • Income Tax Act 58 of 1962 — Section 25B — Section 26A — conduit principle — capital gains tax — beneficiaries
  • Tax Administration Act 28 of 2011 — understatement penalties — bona fide inadvertent error

SARS Documents

• BGR 27 (Issue 2) and Interpretation Note 83 (Issue 3) - Application of Sections 20(7) and 21(5) of the VAT Act
• Interpretation Note - Disposal of assets by deceased persons, deceased estates, and transfer of assets between spouses (Sections 9HA, 9HB, and 25 of the Income Tax Act)
• SMME Connect Issue 9
  • Company income tax deregistration
  • Voluntary Disclosure Programme

Competencies Developed 

After watching this webinar, participants were:

• Updated on key changes in tax legislation and SARS practices.
• Competent in applying new SARS documents (e.g., binding rulings, interpretation notes, guides).
• Skilled in advising clients on the impact of recent tax amendments on compliance and planning.
• Equipped to train staff to prepare SARS-compliant tax returns using the latest updates.
• Informed about relevant topics for client communiqués regarding tax developments.
• Competent in revising clients' tax planning strategies.

Presenter

Professor Jackie Arendse 

B Acc (Wits) M Acc (Tax) (UKZN) Chartered Accountant (SA) PhD (Accounting) (Rhodes)

After completing her training at Deloitte and qualifying as a Chartered Accountant, Jackie was Group Financial Accountant for a top-100 listed company before moving to academia where she developed her skills as an academic – authoring, lecturing, and researching on a wide range of tax areas – and also completing her master’s and PhD qualifications.

She served as Project Director: Tax at the South African Institute of Chartered Accountants (SAICA) between 2004 and 2006, managing relationships with key stakeholders (especially SARS and National Treasury), enhancing SAICA members’ tax competence and representing SAICA in discussions with government on tax policy and legislation.

Jackie was Head of the School of Accountancy at Wits University from 2009 until 2013 and was Head of the Department of Accounting at Rhodes University from 2014 until 2020. Since 2021, she has been Head of Taxation at Academic One, which is developing a fully online CTA/Accounting Honours programme, and she continues as a sought-after presenter of tax seminars and webinars.

Jackie has presented tax training to tax practitioners, accountants, small businesses, and large corporates around the country for many years and has authored numerous books, articles, and publications in the field of taxation including Silke on South African Income Tax. She is the managing author of Silke on Tax Administration, published by LexisNexis and updated annually.

CPD

Attending this webinar and the successful completion of the online assessment will secure a certificate of completion for 2 hours of Tax CPD.

Event Investment

Free for Tax Technician, Tax Practitioner, Tax Accountant CPD subscribers and Practice Packages. Not a CPD subscriber yet? Click here to register now.

• Regular price:  R460.00
• Special rate for SAIT members:  R368.00
• Group booking discounts available when you register for a group.

Payments and Cancellations

• All payments must be made by EFT or by credit card, at least three working days before commencement of an event.
• Kindly note that should payment not be received two days after the event, legal action will be taken.
• Proof of payment will be requested at registration if payment does not reflect in The Tax Faculty’s bank account.
• Only written notice of cancellation will be recognized.
• Conditions:
  • If the cancellation occurs more than four working days prior to the event no cancellation fee will be charged.
  • If the cancellation occurs less than four working days prior to the event, a 100% cancellation fee will apply.
• Delegates who book and fail to attend will be liable for the full event fee.
• The Tax Faculty’s liability in the case of an event being cancelled will be limited to a refund or credit of the event fee.
• Please click here for the full terms and conditions.