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Latest News

Tax Exempt Institutions Connect Newsletter Special...

SARS appreciates and acknowledges the support from the Tax Exempt Institutions’ community in 2024, a...


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Big Tax Hikes Coming for Businesses in South Afric...

Carbon taxes in South Africa are set to rise by over 140% by 2030.


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Do We Know What SARS Knows?

SARS’ systems are becoming increasingly integrated and sophisticated. Anybody that still thinks with...


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The Winding Up of Estates in SA is in Shambles

Problems at master’s offices the tip of the iceberg.


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VAT Agency and Principals

The terms “agent” and “agency” are not defined in the Value Added Tax Act 89 of 1991 (VAT Act).


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SARS Audit Delays and Appeal Challenges

What is the appropriate process for a taxpayer to follow if they disagree with an estimated addition...


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CEO Security: Taxable Benefit or Business Necessit...

Is this arrangement considered a fringe benefit for the CEO, or is it classified as a normal securit...


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Renouncement By Heir

Should the will’s clause, which distributes the renounced shares equally among the remaining benefic...


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Negotiating your Suspension of Payment

The pay-now-argue later principle is firmly entrenched in our tax law and embodied in section 164(1)...


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Efficiency Hacks for Small Tax Practices

He says, she says: Timelines for record keeping and documentary proof as an efficiency “hack” for sm...


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Why Tax Practitioners Can't Afford to Ignore Tax T...

As the tax landscape becomes increasingly complex, tax practitioners are facing new pressures to mee...


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SARS Verification and Requests for Relevant Materi...

Many taxpayers have experienced a dramatic increase in Requests for Relevant material by SARS. Some...


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Concourt on Bona Fide Inadvertent Error and USP's

The eagerly anticipated Constitutional Court judgment in Thistle case1 has been delivered.


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Why must Record Keeping be a Burden?

Taxpayer obligations are balanced against SARS’ powers and duties. SARS is responsible for the admin...


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Income Tax Audit

We discovered errors in the calculation of capital gains during an income tax audit by SARS for the...


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Transfer Pricing in South Africa: An Arm’s Length...

straightforward and consistent with established transfer pricing principles. The court sharply criti...


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VAT Estimated Assessments

SARS is currently issuing estimated assessments after conducting reviews or audits on income tax and...


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Address Unforeseen Threats Undermining Business St...

Risk is an inherent part of running any business, yet many business owners overlook the  importance...


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Valuation of Property

Can the company reflect the potential new value of the properties on the balance sheet, or would the...


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Trust Year-end Change from 28 February

A Group of companies’ structure includes a resident Inter Vivos Employment Incentive Trust. The trus...


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Tax Planning: A “Curse” or a “Necessity”?

SARS instituted action against the appellants in terms of section 183 of the Tax Administration Act...


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Skills Development SARS Code 3718

A private company granted vested share options to its employees. Prior to the pay out, the company o...


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Rent To Buy CGT

In a rent-to-buy agreement, monthly payments reduce the final purchase price, and these payments mus...


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GAYE Contributions as a Deduction

A South African taxpayer who works abroad, makes contributions towards Give As You Earn (GAYE). SARS...


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Individuals Tax News

GAYE Contributions as a Deduction

A South African taxpayer who works abroad, makes contributions towards Give As You Earn (GAYE). SARS...


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Auto Assessments - Bank Details

SARS will issue auto-assessments from 1 July 2024 to taxpayers whose tax affairs are less complicate...


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2024 Filing Season

It is important to note that there are numerous changes for this year’s filing season as a result of...


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Corporate Tax News

7 Essential Tax Strategies for Small Business Succ...

Essential tax strategies for small business owners, emphasising the importance of tax risk managemen...


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Reliance on an Opinion to Mitigate Understatement...

One of the most daunting questions for a taxpayer who is issued with an understatement penalty asses...


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Voluntary Disclosure Programme - Voluntary or Not?

Two of the fundamental requirements to access the VDP are that the disclosure must be voluntary and...


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VAT periods News

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

Author: Varusha Moodaley


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Further clarification on the VAT registration of n...

Author: Jerome Brink


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Contingency Fees: VAT inclusive or exclusive?

Author: Gerhard Badenhorst


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Tax returns and payments News

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Weekly transfer pricing roundup – 19 June 2017

Author: Marcus


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Deregistration News

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Deregistration as a VAT Vendor

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


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Zero Rated News

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

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


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Notional input tax News

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

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


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Input - Customs Duty News

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

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


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Salaried Employees News

Staff Salary Advance Tax Implications

Examining tax consequences of salary advancements under the Income Tax Act, where interest-free or l...


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Farming News

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

Welcome clarity on the taxation of farmers in South Africa?


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Farmers claiming diesel rebate

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


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Capital Gains Tax - Individuals Tax News

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

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


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Practical Payroll News

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Payment holiday for Skills Development Levy contri...

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


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[FAQ] EMP501 Reconciliations

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


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Employer and Employee (PAYE and UIF Specific) News

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Employees’ Tax

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


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

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


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Low interest rate loans and loan subsidies News

Dividends interest on loan

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


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Application of tax rates, s6(2) rebates News

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

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


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International Tax News

Foreign Employees - Taxation on Global Income

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


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Place of effective management: SARS’ views

Place of effective management: SARS’ views


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

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


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Tax Administration News

SARS Audit Delays and Appeal Challenges

What is the appropriate process for a taxpayer to follow if they disagree with an estimated addition...


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SARS Verification and Requests for Relevant Materi...

Many taxpayers have experienced a dramatic increase in Requests for Relevant material by SARS. Some...


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Why must Record Keeping be a Burden?

Taxpayer obligations are balanced against SARS’ powers and duties. SARS is responsible for the admin...


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VAT News

Do We Know What SARS Knows?

SARS’ systems are becoming increasingly integrated and sophisticated. Anybody that still thinks with...


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VAT Agency and Principals

The terms “agent” and “agency” are not defined in the Value Added Tax Act 89 of 1991 (VAT Act).


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VAT: Prepaid Vouchers - BGR 72

SARS issued BGR 72 on 21 May 2024 to set the particulars that are acceptable in a credit note that t...


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Payroll News

Payroll Considerations Managing New Employee Costs

A client hired a new employee with a monthly cost to the company of R20000, without specifying if co...


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

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


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

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


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Transfer-Pricing News

Transfer Pricing in South Africa: An Arm’s Length...

straightforward and consistent with established transfer pricing principles. The court sharply criti...


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Transfer Pricing has Finally Washed up on South Af...

With increasing economic globalisation, revenue authorities around the world continue to shift their...


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Administration of Estates News

The Winding Up of Estates in SA is in Shambles

Problems at master’s offices the tip of the iceberg.


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

Deceased Estate Life Wrapped Investment Value For Estate Duty


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

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


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Customs and Excise News

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

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


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Customs: Prohibited and restricted goods list

Customs: Prohibited and restricted goods list


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Excise essential guide for small businesses

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


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Tax Update News

IT3(d) Third Party Data FAQs

IT3(d) onboarding, testing and live submissions will remain open for the duration of the submission...


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

2022 MTBPS: Generally good news, limited tax changes


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The 2020 Tax Amendments

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


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SARS Dispute Resolution News

Revenue Augmentation: Low Hanging Fruit

In an apparent effort to win the war against non-compliance, it seems SARS has taken to augmenting t...


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Dispute resolution - Is it time to settle?

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


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Legislation News

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

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


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

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


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

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


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Interest News

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General rules regarding interest deductibility

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


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

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


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

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


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Deductions Pre-trade and prepaid expenses News

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Did the SCA get this right?

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


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Assessed losses News

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Proposed changes to Assessed loss provision

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


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Wear and tear allowances News

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BGR 7 - ​Wear-and-tear or depreciation allowance

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


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Capital Gains Tax News

Sale of Share Options on Resignation

Payout classification for employees leaving after receiving company shares depends on factors like a...


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

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


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

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


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Trust types and income allocations News

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Guide to the Taxation of Special Trusts (Issue 3)

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


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Trust Income / Gain Allocations News

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

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


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Nature of the rights of beneficiaries News

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

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


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Tax implications of loans to trusts News

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

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


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Capital Gains Tax Implications of Trusts News

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Tax implications of terminating a trust

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


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Provisional tax (Link with other Taxes) News

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

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


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

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


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Deceased Estate News

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How should a Deceased Estate be administered?

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


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Deceased estates - tax returns

Posted by: SAIT Technical


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Estate Duty News

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Estate duty dodge is just silly

Posted by: SAIT Technical


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Company Formations News

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

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


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Tax residence News

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New proposal for required documents when ceasing t...

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


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Accounting for Income Tax News

Independent Contractor and PAYE

Invoicing as an independent contractor while being a director and shareholder may cause tax issues i...


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Base Cost For Shares

A trust adjusts share values annually but base cost remains R500 despite fair value changes under th...


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Accounting for Income Tax News

Income Tax - Single Section 18A Receipt

The sum of the multiple bona fide donations reflected in separate section 18A receipts must be the s...


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

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

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


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

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


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Trusts News

Application of Attribution Rules for Trusts

The application of Section 7 is complex, requiring careful consideration of the trust’s  activities...


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Tax on a Payment to a Testamentary Trust

After an employee's death, the company is managing funds for maternity leave and staff contributions...


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Beneficial Ownership Register

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


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Accounting News

Tax Exempt Institutions Connect Newsletter Special...

SARS appreciates and acknowledges the support from the Tax Exempt Institutions’ community in 2024, a...


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CEO Security: Taxable Benefit or Business Necessit...

Is this arrangement considered a fringe benefit for the CEO, or is it classified as a normal securit...


Read More

Negotiating your Suspension of Payment

The pay-now-argue later principle is firmly entrenched in our tax law and embodied in section 164(1)...


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Events / Webinars News

ChatGPT and AI for Accountants

ChatGPT – it’s the latest buzzword, and for good reason. This powerful new tool has the potential to...


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Tax Administration Part 3B Dispute Resolution - Objection and appeal News

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

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


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Case study: Travel allowances News

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

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


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Case study: Home office expense News

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

[FAQ] Home office expense regarding solar installation


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[FAQ] Home office expenses

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


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Faculty News News

Big Tax Hikes Coming for Businesses in South Afric...

Carbon taxes in South Africa are set to rise by over 140% by 2030.


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The Tax Faculty Accredited by SAICA to Offer Accou...

The South African Institute of Chartered Accountants on Monday 3 June 2024 announced the accreditati...


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What is The Tax Faculty's response to Mr. Keith En...

Frequently Asked Questions concerning the disputes between SAIT and The Tax Faculty.


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Blogs News

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Streamlining Payroll and Administration: A Compreh...

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


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Why should you personalise your tax practice?

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


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Online vs in-person tax training

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


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Negotiating Tax Debt and Payment Arrangements with SARS News

VAT Invoice Requirements

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


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Compliance News

Concourt on Bona Fide Inadvertent Error and USP's

The eagerly anticipated Constitutional Court judgment in Thistle case1 has been delivered.


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SARS Issues News

SARS Giveth and SARS Taketh Away

The alarmingly high unemployment rate in South Africa has given rise to several tax incentives for e...


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SARS and Tax Court Closing Dates

SARS excludes December 16th to January 15th from "business days" as per TAA Section 1, impacting the...


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SARS Clarifying Trust Income Tax Return Requiremen...

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


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Audit, Reviews & Other Services News

SARS Audit: How Far Back Can They Go?

Imagine SARS is conducting an audit on a company for the most recent year of assessment. The company...


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Navigating One of the Challenges of a SARS Audit:...

SARS audits demand clear communication and expertise to navigate complex tax laws and potential barr...


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Turnover Tax - Personal Service Providers

Entertainment industry contractors, facing potential double taxation due to 25% PAYE deductions, can...


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eFiling News

eFiling Taxpayer Profile Hijackings on the Increas...

You can be held liable for whatever a hacker manages to siphon from Sars in your name.


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Advisory Services News

Address Unforeseen Threats Undermining Business St...

Risk is an inherent part of running any business, yet many business owners overlook the  importance...


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Wills, Estates & Trusts News

Renouncement By Heir

Should the will’s clause, which distributes the renounced shares equally among the remaining benefic...


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