The VAT Act mandates specific details on invoices, including supplier and recipient names, addresses...
SARS is short on revenue and the picture is looking bleaker by the minute. Like a desperate cat maki...
Debit loan interest below the official rate creates a deemed dividend, leading to dividends tax un...
The trustee granted a loan to a trust for a holiday home, triggering Section 7C. However, as the hol...
A deceased individual's estate inherits a share portfolio, qualifying for spousal roll-over relief b...
Inheritance of property by a surviving spouse could trigger CGT, allowing a rollover for a resident...
Delays in obtaining a Deceased Estate Clearance (DEC) certificate from SARS are explored, revealing...
Starting April 1, 2023, the Trust Property Control Act demands updated Beneficial Ownership records...
The article addresses the tax implications for a foreign employee in South Africa, highlighting the...
The company can claim business expenses and deductions against its total income, including capital g...
SARS aims to meet FATF requirements by recording all BO of registered Trusts.
Changes for the PAYE Interim Filing Season.
Through SARS eFiling, you can securely submit IT3 third party data to SARS.
Learn more about the Excise Diesel Refund for Food Manufacturers Scheme.
Then you must tell them about Turnover Tax.
TP fees must align with the task's nature and complexity when working for a client.
Companies frequently establish employee share schemes to motivate and align key staff.
Tax implications for livestock in the farmer's and estate's tax returns after the farmer's passing
When a person dies, the Executor must file a final income tax return for the deceased.
Update all details, including banking information, before filing your Income Tax Return.
Shared access is a function available on eFiling.
Employer Interim Reconciliation Declarations (EMP501) this year starts on 18 September 2023.
Will the ConCourt have the final say?
Sole proprietors projecting a loss in the 2024 tax year.
Companies frequently establish employee share schemes to motivate and align key staff.
Tax implications for livestock in the farmer's and estate's tax returns after the farmer's passing
Sole proprietors projecting a loss in the 2024 tax year.
At it again: Capital v revenue
[FAQ] Small Business Corporation
Author: Varusha Moodaley
Author: Jerome Brink
Author: Gerhard Badenhorst
Author: Marcus
A sole proprietor performs services for clients abroad. More than 90% of the taxpayer’s revenue is d...
Client “A” is a farmer who is a registered VAT vendor. His neighbour (Client “B”) is a poultry farme...
Where fixed property is purchased by a VAT vendor from a non-vendor, transfer duty is payable thereo...
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 South Africa?
The Supreme Court of Appeal recently overturned a decision by the High Court. The impact of the deci...
It is stated that income on cryptocurrency that was mined will be taxed when income is received/accr...
The COVID-19 outbreak together with extended lockdown continues to have a negative impact on the cas...
The taxpayer works as a tax practitioner at a company where they submit between 150 to 200 EMP501 re...
The Guide for Employers in respect of Employees Tax for 2023 has been updated to include the new tab...
Should benefits received from SAFT be included or excluded from the IRP5 and will these benefits rec...
Debit loan interest below the official rate creates a deemed dividend, leading to dividends tax un...
A taxpayer ceased to be a resident in South Africa and it came to his attention that SARS allows the...
The article addresses the tax implications for a foreign employee in South Africa, highlighting the...
Place of effective management: SARS’ views
Interpretation Note 101 (Issue 2) – Gains or losses on foreign exchange transactions
SARS aims to meet FATF requirements by recording all BO of registered Trusts.
Changes for the PAYE Interim Filing Season.
Through SARS eFiling, you can securely submit IT3 third party data to SARS.
SARS is short on revenue and the picture is looking bleaker by the minute. Like a desperate cat maki...
[FAQ] VAT On Commercial Accommodation
An employee received a lump sum when he left which was seen as a bonus payment. The employee left du...
Would a taxpayer be eligible to register his son under the business ETI or is he considered to be a...
UIF TERS benefits offer relief to employers who are not able to pay employees during the lockdown pe...
Deceased Estate Life Wrapped Investment Value For Estate Duty
What provision in the Transfer Duty Act deals with the applicability of transfer duty to a capital d...
A number of groundbreaking cases have recently been decided (during the latter part of 2020) and are...
The notice, as published in Government Gazette 46056, relates to the amendments to the rules publish...
Customs: Prohibited and restricted goods list
Excise tax is indirect duties, levies and taxes imposed on certain locally manufactured and imported...
2022 MTBPS: Generally good news, limited tax changes
The National Treasury recently published a number of bills that contain the amendments to the tax la...
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 MEALS AND INCIDENTAL COSTS FOR PURPOSES OF SECTION 8...
FIXING OF RATE PER KILOMETRE IN RESPECT OF MOTOR VEHICLES FOR THE PURPOSES OF SECTION 8(1)(b)(ii) AN...
This ruling determines the income tax and donations tax consequences of a share buy-back at nominal...
In the current environment where there is a huge amount of debt being incurred by taxpayers it is us...
This BGR sets out the rules to avoid double taxation when a deemed accrual of interest occurs under...
Where a loan is obtained by an employee from his or her employer in terms of which no interest is pa...
Section 23H of the Income Tax Act is a provision that is designed to spread prepayments made by taxp...
The 2021 Draft Laws Amendment Bill that was released in July 2021, has proposals to change section 2...
This BGR reproduces the parts of Interpretation Note 47 (Issue 5) “Wear-and-Tear or Depreciation All...
A Trust owns 100% of the ordinary shares in a company and charges R20 million to a potential purchas...
A taxpayer is a director who wants to sell her shares to the remaining directors. The shares have a...
Two companies are connected persons. Both companies waived the loan account between them. This was a...
The purpose of this guide is to assist users in gaining a more in-depth understanding of the taxatio...
This ruling determines the tax consequences of the vesting of a capital gain in a beneficiary, where...
The trust, special trust or otherwise, cannot make a deduction of the medical expenditure incurred o...
With the introduction of section 7C, the interest saving arising on interest-free or low interest ra...
Trust A is a 100% shareholder of Company B. Trust C has a debit loan with Company B (no interest is...
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 and what penalties are payable if any?
A company changed its financial year-end from February to June. The change was made on 13 March 2021...
The administration of a deceased estate entails a regulatory process overseen by the Master of the H...
This BGR provides clarity on what constitutes an unbundling transaction when an unbundling company h...
There has been a proposal that has been issued with new document requirements for taxpayers who wish...
Entities that have tax losses are likely to find themselves in a position where they have to conside...
A taxpayer has lodged and objection with SARS. The objection was accepted, but SARS did not comply w...
VAT returns submitted and paid through eFiling reflect on the taxpayer's work page. However, the ret...
Starting April 1, 2023, the Trust Property Control Act demands updated Beneficial Ownership records...
Dividends are subject to Dividend Withholding Tax (DWT) in South Africa.
Third-Party Data Submissions by Trusts that are Tax Exempt Institutions
The trustee granted a loan to a trust for a holiday home, triggering Section 7C. However, as the hol...
A deceased individual's estate inherits a share portfolio, qualifying for spousal roll-over relief b...
Inheritance of property by a surviving spouse could trigger CGT, allowing a rollover for a resident...
The Minister of Finance approved new dispute resolution rules under the Tax Administration Act, 2011...
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 employee travel allowances?
[FAQ] Home office expense regarding solar installation
A company has staff that have been working from home during COVID19. In total, there are 3 working d...
Annual General Meeting of Alumni Members of The Tax Faculty NPC
Notice is hereby given that the Annual General Meeting (“AGM”) of members of THE TAX FACULTY NPC (“T...
Master payroll and administration for smooth operations. Discover best practices and tools to stream...
In this article, we'll show you why personalisation is so important and how you can start incorporat...
If you are looking for the most convenient and cost-effective way to kickstart your career in tax or...
The VAT Act mandates specific details on invoices, including supplier and recipient names, addresses...
The purpose of this notice is to address these common issues, which may have been communicated durin...
On 3 March 2023, the Supreme Court of Appeal in C:SARS v Medtronic International Trading SARL [2023]...
What gave rise to the fallout between SAIT and Tax Faculty?
ChatGPT and AI for Accountants