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Latest News

VAT Invoice Requirements

07 December 2023
Negotiating Tax Debt and Payment Arrangements with SARS

The VAT Act mandates specific details on invoices, including supplier and recipient names, addresses...

SARS needs the money in your pocket …

06 December 2023
VAT

SARS is short on revenue and the picture is looking bleaker by the minute. Like a desperate cat maki...

Dividends interest on loan

04 December 2023
Low interest rate loans and loan subsidies

Debit loan interest below the official rate creates a deemed dividend, leading to dividends tax un...

Loans to Trusts - Section 7C

23 November 2023
Accounting

The trustee granted a loan to a trust for a holiday home, triggering Section 7C. However, as the hol...

CGT Exemption Applicable to Estate

22 November 2023
Accounting

A deceased individual's estate inherits a share portfolio, qualifying for spousal roll-over relief b...

CGT Roll-Over

15 November 2023
Accounting

Inheritance of property by a surviving spouse could trigger CGT, allowing a rollover for a resident...

Tax & Deceased Estate

15 November 2023
Accounting

Delays in obtaining a Deceased Estate Clearance (DEC) certificate from SARS are explored, revealing...

Beneficial Ownership Register

14 November 2023
Trusts

Starting April 1, 2023, the Trust Property Control Act demands updated Beneficial Ownership records...

Foreign Employees - Taxation on Global Income

08 November 2023
International Tax

The article addresses the tax implications for a foreign employee in South Africa, highlighting the...

Business Expenses - Capital Gains Tax

07 November 2023
Accounting

The company can claim business expenses and deductions against its total income, including capital g...

Enhancements to Trusts’ Beneficial-Ownership Info...

02 November 2023
Tax Administration

SARS aims to meet FATF requirements by recording all BO of registered Trusts.

Employer Interim Reconciliation Declarations (EMP5...

02 November 2023
Tax Administration

Changes for the PAYE Interim Filing Season.

Incorporating Trust Income and Donations in IT3 Th...

02 November 2023
Tax Administration

Through SARS eFiling, you can securely submit IT3 third party data to SARS.

Online Registration for Excise Diesel Refund for F...

02 November 2023
Tax Administration

Learn more about the Excise Diesel Refund for Food Manufacturers Scheme.

Are you a Tax Practitioner with Micro-businesses...

02 November 2023
Tax Administration

Then you must tell them about Turnover Tax.

Charging of Contingency Fees

02 November 2023
Tax Administration

TP fees must align with the task's nature and complexity when working for a client.

Employee Share Schemes: South African tax Conside...

02 November 2023
Individuals Tax

Companies frequently establish employee share schemes to motivate and align key staff.

Treatment of livestock at death

18 October 2023
Individuals Tax

Tax implications for livestock in the farmer's and estate's tax returns after the farmer's passing

Should a Deceased Person’s Income Tax Return be fi...

12 October 2023
Tax Administration

When a person dies, the Executor must file a final income tax return for the deceased.

What happens when SARS pays a refund into an old b...

12 October 2023
Tax Administration

Update all details, including banking information, before filing your Income Tax Return.

Shared Access

12 October 2023
Tax Administration

Shared access is a function available on eFiling.

Employer’s Interim Reconciliation

12 October 2023
Tax Administration

Employer Interim Reconciliation Declarations (EMP501) this year starts on 18 September 2023.

A matter of review and the High Court’s jurisdicti...

12 October 2023
Tax Administration

Will the ConCourt have the final say?

Sole Proprietor - Micro Business Tax

02 October 2023
Individuals Tax

Sole proprietors projecting a loss in the 2024 tax year.

Employee Share Schemes: South African tax Conside...

02 November 2023
Individuals Tax

Companies frequently establish employee share schemes to motivate and align key staff.

Treatment of livestock at death

18 October 2023
Individuals Tax

Tax implications for livestock in the farmer's and estate's tax returns after the farmer's passing

Sole Proprietor - Micro Business Tax

02 October 2023
Individuals Tax

Sole proprietors projecting a loss in the 2024 tax year.

At it again: Capital v revenue

14 September 2023
Corporate Tax

At it again: Capital v revenue

Practice Note 31’s withdrawal

16 August 2023
Corporate Tax

Practice Note 31’s withdrawal

[FAQ] Small Business Corporation

25 July 2023
Corporate Tax

[FAQ] Small Business Corporation

Getting out what you put in…A recap on the deducti...

19 December 2019
VAT periods

Author: Varusha Moodaley

Further clarification on the VAT registration of n...

19 December 2019
VAT periods

Author: Jerome Brink

Contingency Fees: VAT inclusive or exclusive?

27 May 2021
VAT periods

Author: Gerhard Badenhorst

Weekly transfer pricing roundup – 19 June 2017

19 June 2017
Tax returns and payments

Author: Marcus

Deregistration as a VAT Vendor

27 May 2020
Deregistration

A sole proprietor performs services for clients abroad. More than 90% of the taxpayer’s revenue is d...

[FAQ] Is the sale of borehole water a zero-rated s...

03 August 2020
Zero Rated

Client “A” is a farmer who is a registered VAT vendor. His neighbour (Client “B”) is a poultry farme...

Value-added tax & transfer duty: Clarity or confus...

22 June 2020
Notional input tax

Where fixed property is purchased by a VAT vendor from a non-vendor, transfer duty is payable thereo...

VAT on imported services payable by non-registered...

05 June 2020
Input - Customs Duty

On 1 June 2020, the South African Revenue Service (SARS) issued an external guide titled ‘Manage Dec...

Welcome clarity on the taxation of farmers in Sout...

07 October 2022
Farming

Welcome clarity on the taxation of farmers in South Africa?

Farmers claiming diesel rebate

17 February 2020
Farming

The Supreme Court of Appeal recently overturned a decision by the High Court. The impact of the deci...

[FAQ] The tax implication when cryptocurrency is s...

23 April 2021
Capital Gains Tax - Individuals Tax

It is stated that income on cryptocurrency that was mined will be taxed when income is received/accr...

Payment holiday for Skills Development Levy contri...

26 June 2020
Practical Payroll

The COVID-19 outbreak together with extended lockdown continues to have a negative impact on the cas...

[FAQ] EMP501 Reconciliations

12 June 2020
Practical Payroll

The taxpayer works as a tax practitioner at a company where they submit between 150 to 200 EMP501 re...

Employees’ Tax

22 March 2022
Employer and Employee (PAYE and UIF Specific)

The Guide for Employers in respect of Employees Tax for 2023 has been updated to include the new tab...

[FAQ] Should benefits received from the South Afri...

17 November 2020
Employer and Employee (PAYE and UIF Specific)

Should benefits received from SAFT be included or excluded from the IRP5 and will these benefits rec...

Dividends interest on loan

04 December 2023
Low interest rate loans and loan subsidies

Debit loan interest below the official rate creates a deemed dividend, leading to dividends tax un...

[FAQ] Rebates in the year a taxpayer ceases to be...

02 November 2020
Application of tax rates, s6(2) rebates

A taxpayer ceased to be a resident in South Africa and it came to his attention that SARS allows the...

Foreign Employees - Taxation on Global Income

08 November 2023
International Tax

The article addresses the tax implications for a foreign employee in South Africa, highlighting the...

Place of effective management: SARS’ views

13 July 2023
International Tax

Place of effective management: SARS’ views

Interpretation Note 101 (Issue 2) – Gains or losse...

13 July 2023
International Tax

Interpretation Note 101 (Issue 2) – Gains or losses on foreign exchange transactions

Enhancements to Trusts’ Beneficial-Ownership Info...

02 November 2023
Tax Administration

SARS aims to meet FATF requirements by recording all BO of registered Trusts.

Employer Interim Reconciliation Declarations (EMP5...

02 November 2023
Tax Administration

Changes for the PAYE Interim Filing Season.

Incorporating Trust Income and Donations in IT3 Th...

02 November 2023
Tax Administration

Through SARS eFiling, you can securely submit IT3 third party data to SARS.

SARS needs the money in your pocket …

06 December 2023
VAT

SARS is short on revenue and the picture is looking bleaker by the minute. Like a desperate cat maki...

[FAQ] VAT On Commercial Accommodation

28 July 2023
VAT

[FAQ] VAT On Commercial Accommodation

Safe VAT?

08 May 2023
VAT

Safe VAT?

[FAQ] Retrospective application for a severance ta...

29 July 2021
Payroll

An employee received a lump sum when he left which was seen as a bonus payment. The employee left du...

[FAQ] Employment Tax Incentive and connected perso...

23 June 2021
Payroll

Would a taxpayer be eligible to register his son under the business ETI or is he considered to be a...

INCREASED ACCESS TO COVID-19 TERS BENEFITS

26 May 2020
Payroll

UIF TERS benefits offer relief to employers who are not able to pay employees during the lockdown pe...

[FAQ] Deceased Estate Life Wrapped Investment Valu...

08 March 2023
Administration of Estates

Deceased Estate Life Wrapped Investment Value For Estate Duty

[FAQ] Transfer duty exemption on a capital distrib...

23 August 2021
Administration of Estates

What provision in the Transfer Duty Act deals with the applicability of transfer duty to a capital d...

Groundbreaking case law impacting estate planning

21 January 2021
Administration of Estates

A number of groundbreaking cases have recently been decided (during the latter part of 2020) and are...

Customs and Excise Act: Rule amendment notice R189...

06 April 2022
Customs and Excise

The notice, as published in Government Gazette 46056, relates to the amendments to the rules publish...

Customs: Prohibited and restricted goods list

06 April 2022
Customs and Excise

Customs: Prohibited and restricted goods list

Excise essential guide for small businesses

06 April 2022
Customs and Excise

Excise tax is indirect duties, levies and taxes imposed on certain locally manufactured and imported...

2022 MTBPS: Generally good news, limited tax chang...

01 November 2022
Tax Update

2022 MTBPS: Generally good news, limited tax changes

The 2020 Tax Amendments

17 December 2020
Tax Update

The National Treasury recently published a number of bills that contain the amendments to the tax la...

Dispute resolution - Is it time to settle?

12 August 2020
SARS Dispute Resolution

The settlement of a tax dispute is available to taxpayers in respect of which an assessment has been...

Determination of the daily amount in respect of me...

28 February 2020
Legislation

DETERMINATION OF THE DAILY AMOUNT IN RESPECT OF MEALS AND INCIDENTAL COSTS FOR PURPOSES OF SECTION 8...

Fixing of rate per kilometre in respect of motor...

28 February 2020
Legislation

FIXING OF RATE PER KILOMETRE IN RESPECT OF MOTOR VEHICLES FOR THE PURPOSES OF SECTION 8(1)(b)(ii) AN...

Binding Private Ruling (BPR) 340 – Share buy-back...

27 February 2020
Legislation

This ruling determines the income tax and donations tax consequences of a share buy-back at nominal...

General rules regarding interest deductibility

17 August 2020
Interest

In the current environment where there is a huge amount of debt being incurred by taxpayers it is us...

BGR 53 - Rules for the taxation of interest payabl...

22 June 2020
Interest

This BGR sets out the rules to avoid double taxation when a deemed accrual of interest occurs under...

Updated Table of interest rates: Table 3 – Rates a...

27 January 2020
Interest

Where a loan is obtained by an employee from his or her employer in terms of which no interest is pa...

Did the SCA get this right?

06 July 2020
Deductions Pre-trade and prepaid expenses

Section 23H of the Income Tax Act is a provision that is designed to spread prepayments made by taxp...

Proposed changes to Assessed loss provision

15 September 2021
Assessed losses

The 2021 Draft Laws Amendment Bill that was released in July 2021, has proposals to change section 2...

BGR 7 - Wear-and-tear or depreciation allowance

15 February 2021
Wear and tear allowances

This BGR reproduces the parts of Interpretation Note 47 (Issue 5) “Wear-and-Tear or Depreciation All...

[FAQ] The tax implication when shares are sold for...

26 August 2021
Capital Gains Tax

A Trust owns 100% of the ordinary shares in a company and charges R20 million to a potential purchas...

[FAQ] Capital Gains Tax on the sale of shares wher...

12 August 2021
Capital Gains Tax

A taxpayer is a director who wants to sell her shares to the remaining directors. The shares have a...

[FAQ] Waiver of loan between connected persons

04 August 2021
Capital Gains Tax

Two companies are connected persons. Both companies waived the loan account between them. This was a...

Guide to the Taxation of Special Trusts (Issue 3)

10 September 2020
Trust types and income allocations

The purpose of this guide is to assist users in gaining a more in-depth understanding of the taxatio...

BPR 350 – Vesting of a capital gain in a trust ben...

14 September 2020
Trust Income / Gain Allocations

This ruling determines the tax consequences of the vesting of a capital gain in a beneficiary, where...

The tax implications of medical expenses paid by a...

21 May 2020
Nature of the rights of beneficiaries

The trust, special trust or otherwise, cannot make a deduction of the medical expenditure incurred o...

Amendment to section 7C: Beware of preference divi...

19 November 2020
Tax implications of loans to trusts

With the introduction of section 7C, the interest saving arising on interest-free or low interest ra...

[FAQ] A loan by a natural person, or a connected p...

05 June 2020
Tax implications of loans to trusts

Trust A is a 100% shareholder of Company B. Trust C has a debit loan with Company B (no interest is...

Tax implications of terminating a trust

19 October 2020
Capital Gains Tax Implications of Trusts

A trust is terminated by the Master after all the trust property was vested and distributed to the b...

[FAQ] How do you submit a Third Prov Tax return an...

22 August 2023
Provisional tax (Link with other Taxes)

[FAQ] How do you submit a Third Prov Tax return and what penalties are payable if any?

[FAQ] Provisional tax when the financial year-end...

19 August 2021
Provisional tax (Link with other Taxes)

A company changed its financial year-end from February to June. The change was made on 13 March 2021...

How should a Deceased Estate be administered?

20 August 2020
Deceased Estate

The administration of a deceased estate entails a regulatory process overseen by the Master of the H...

Deceased estates - tax returns

03 January 2013
Deceased Estate

Posted by: SAIT Technical

Estate duty dodge is just silly

11 June 2012
Estate Duty

Posted by: SAIT Technical

BGR 54 - Unbundling of unlisted company: Impact of...

22 June 2020
Company Formations

This BGR provides clarity on what constitutes an unbundling transaction when an unbundling company h...

New proposal for required documents when ceasing t...

30 September 2021
Tax residence

There has been a proposal that has been issued with new document requirements for taxpayers who wish...

Deferred tax assets for tax losses

20 August 2020
Deferred tax assets and deferred tax on equity

Entities that have tax losses are likely to find themselves in a position where they have to conside...

[FAQ] What remedies are available to a taxpayer as...

24 July 2020
Tax Administration Part 2B: Resolving Problems with SARS using the Tax Ombud

A taxpayer has lodged and objection with SARS. The objection was accepted, but SARS did not comply w...

[FAQ] Can the Tax Ombud assist with issues regardi...

22 July 2020
Tax Administration Part 2B: Resolving Problems with SARS using the Tax Ombud

VAT returns submitted and paid through eFiling reflect on the taxpayer's work page. However, the ret...

Beneficial Ownership Register

14 November 2023
Trusts

Starting April 1, 2023, the Trust Property Control Act demands updated Beneficial Ownership records...

Understanding Dividend Taxation for South African...

02 October 2023
Trusts

Dividends are subject to Dividend Withholding Tax (DWT) in South Africa.

Third-Party Data Submissions by Trusts that are Ta...

14 September 2023
Trusts

Third-Party Data Submissions by Trusts that are Tax Exempt Institutions

Loans to Trusts - Section 7C

23 November 2023
Accounting

The trustee granted a loan to a trust for a holiday home, triggering Section 7C. However, as the hol...

CGT Exemption Applicable to Estate

22 November 2023
Accounting

A deceased individual's estate inherits a share portfolio, qualifying for spousal roll-over relief b...

CGT Roll-Over

15 November 2023
Accounting

Inheritance of property by a surviving spouse could trigger CGT, allowing a rollover for a resident...

New Tax Dispute Resolution Rules (Effective 10 Mar...

11 March 2023
Tax Administration Part 3B Dispute Resolution - Objection and appeal

The Minister of Finance approved new dispute resolution rules under the Tax Administration Act, 2011...

[FAQ] Exports from Zimbabwe to China

10 September 2021
Cross-border

Company A, tax and VAT registered in South Africa, is facilitating a sale of chrome out of Zimbabwe...

[FAQ] What is the correct tax treatment of employe...

28 August 2023
Case study: Travel allowances

[FAQ] What is the correct tax treatment of employee travel allowances?

[FAQ] Home office expense regarding solar installa...

22 August 2023
Case study: Home office expense

[FAQ] Home office expense regarding solar installation

[FAQ] Home office expenses

21 October 2020
Case study: Home office expense

A company has staff that have been working from home during COVID19. In total, there are 3 working d...

2023 Annual General Meeting of Alumni Members

05 September 2023
Faculty News

Annual General Meeting of Alumni Members of The Tax Faculty NPC

Notice of Annual General Meeting of The Tax Facult...

15 December 2021
Faculty News

Notice is hereby given that the Annual General Meeting (“AGM”) of members of THE TAX FACULTY NPC (“T...

Streamlining Payroll and Administration: A Compreh...

13 June 2023
Blogs

Master payroll and administration for smooth operations. Discover best practices and tools to stream...

Why should you personalise your tax practice?

27 September 2022
Blogs

In this article, we'll show you why personalisation is so important and how you can start incorporat...

Online vs in-person tax training

27 September 2022
Blogs

If you are looking for the most convenient and cost-effective way to kickstart your career in tax or...

VAT Invoice Requirements

07 December 2023
Negotiating Tax Debt and Payment Arrangements with SARS

The VAT Act mandates specific details on invoices, including supplier and recipient names, addresses...

SARS Clarifying Trust Income Tax Return Requiremen...

31 August 2023
SARS Issues

The purpose of this notice is to address these common issues, which may have been communicated durin...

SARS Must Comply with its Interpretation Notes: Co...

11 March 2023
SARS Issues

On 3 March 2023, the Supreme Court of Appeal in C:SARS v Medtronic International Trading SARL [2023]...

The history and subsequent fallout between SAIT an...

19 May 2023
Ethics and Governance

What gave rise to the fallout between SAIT and Tax Faculty?

ChatGPT and AI for Accountants

03 August 2023
Miscellaneous

ChatGPT and AI for Accountants

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Latest News Articles

Latest News Articles

Keeping you up to date with the latest Tax news.

Stay informed with our Monthly Newsletter

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CATEGORIES

Latest News

Individuals Tax News

Corporate Tax News

VAT periods News

Tax returns and payments News

Deregistration News

Zero Rated News

Notional input tax News

Input - Customs Duty News

Farming News

Capital Gains Tax - Individuals Tax News

Practical Payroll News

Employer and Employee (PAYE and UIF Specific) News

Low interest rate loans and loan subsidies News

Application of tax rates, s6(2) rebates News

International Tax News

Tax Administration News

VAT News

Payroll News

Administration of Estates News

Customs and Excise News

Tax Update News

SARS Dispute Resolution News

Legislation News

Interest News

Deductions Pre-trade and prepaid expenses News

Assessed losses News

Wear and tear allowances News

Capital Gains Tax News

Trust types and income allocations News

Trust Income / Gain Allocations News

Nature of the rights of beneficiaries News

Tax implications of loans to trusts News

Capital Gains Tax Implications of Trusts News

Provisional tax (Link with other Taxes) News

Deceased Estate News

Estate Duty News

Company Formations News

Tax residence News

Deferred tax assets and deferred tax on equity News

Tax Administration Part 2B: Resolving Problems with SARS using the Tax Ombud News

Trusts News

Accounting News