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Latest News

CEO Security: Taxable Benefit or Business Necessit...

18 November 2024
Accounting

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

Renouncement By Heir

13 November 2024
Wills, Estates & Trusts

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

Negotiating your Suspension of Payment

28 October 2024
Accounting

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

Efficiency Hacks for Small Tax Practices

25 October 2024
Accounting

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

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

17 October 2024
Accounting

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

SARS Verification and Requests for Relevant Materi...

10 October 2024
Tax Administration

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

Concourt on Bona Fide Inadvertent Error and USP's

07 October 2024
Compliance

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

Why must Record Keeping be a Burden?

01 October 2024
Tax Administration

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

Income Tax Audit

27 September 2024
Accounting

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

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

20 September 2024
Transfer-Pricing

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

VAT Estimated Assessments

17 September 2024
Tax Administration

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

Address Unforeseen Threats Undermining Business St...

13 September 2024
Advisory Services

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

Valuation of Property

11 September 2024
Accounting

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

Trust Year-end Change from 28 February

03 September 2024
Tax Administration

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

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

03 September 2024
Tax Administration

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

Skills Development SARS Code 3718

21 August 2024
Accounting

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

Rent To Buy CGT

13 August 2024
Accounting

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

GAYE Contributions as a Deduction

07 August 2024
Individuals Tax

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

7 Essential Tax Strategies for Small Business Succ...

06 August 2024
Corporate Tax

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

Reliance on an Opinion to Mitigate Understatement...

05 August 2024
Corporate Tax

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

Interpretation Note 132

05 August 2024
Tax Administration

This Note provides guidance on when, due to tax non-compliance, a person may not register as a tax p...

Voluntary Disclosure Programme - Voluntary or Not?

02 August 2024
Corporate Tax

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

Commission Earners who Earn More than 50%

25 July 2024
Accounting

Commission earners who earn more than 50% of their total remuneration as the commission can claim ex...

Incorrect IRP5 Certificate

25 July 2024
Tax Administration

A client received R3,036,765 with R1,222,789.93 PAYE withheld, but the employer issued an incorrect...

GAYE Contributions as a Deduction

07 August 2024
Individuals Tax

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

Auto Assessments - Bank Details

15 July 2024
Individuals Tax

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

2024 Filing Season

12 July 2024
Individuals Tax

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

7 Essential Tax Strategies for Small Business Succ...

06 August 2024
Corporate Tax

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

Reliance on an Opinion to Mitigate Understatement...

05 August 2024
Corporate Tax

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

Voluntary Disclosure Programme - Voluntary or Not?

02 August 2024
Corporate Tax

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

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...

Staff Salary Advance Tax Implications

13 March 2024
Salaried Employees

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

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

SARS Verification and Requests for Relevant Materi...

10 October 2024
Tax Administration

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

Why must Record Keeping be a Burden?

01 October 2024
Tax Administration

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

VAT Estimated Assessments

17 September 2024
Tax Administration

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

VAT: Prepaid Vouchers - BGR 72

18 July 2024
VAT

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

Bashing Your Head Against the Wall

20 June 2024
VAT

Objecting to an assessment issued by SARS often feels like bashing your head against a brick wall. B...

Binding General Ruling (VAT) 64 Issue 2

27 May 2024
VAT

Temporary Application of New Dwellings for Exempt Supplies Simultaneously held by Developers for Tax...

Payroll Considerations Managing New Employee Costs

09 July 2024
Payroll

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

[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...

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

20 September 2024
Transfer-Pricing

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

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

25 March 2024
Transfer-Pricing

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

[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...

IT3(d) Third Party Data FAQs

28 May 2024
Tax Update

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

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...

Revenue Augmentation: Low Hanging Fruit

14 June 2024
SARS Dispute Resolution

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

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...

Sale of Share Options on Resignation

12 January 2024
Capital Gains Tax

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

[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...

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...

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...

Independent Contractor and PAYE

26 February 2024
Accounting for Income Tax

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

Base Cost For Shares

16 February 2024
Accounting for Income Tax

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

Income Tax - Single Section 18A Receipt

23 July 2024
Accounting for Income Tax

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

[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...

Application of Attribution Rules for Trusts

03 June 2024
Trusts

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

Tax on a Payment to a Testamentary Trust

26 January 2024
Trusts

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

Beneficial Ownership Register

14 November 2023
Trusts

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

CEO Security: Taxable Benefit or Business Necessit...

18 November 2024
Accounting

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

Negotiating your Suspension of Payment

28 October 2024
Accounting

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

Efficiency Hacks for Small Tax Practices

25 October 2024
Accounting

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

ChatGPT and AI for Accountants

03 May 2024
Events / Webinars

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

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] 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...

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

10 June 2024
Faculty News

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

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

20 March 2024
Faculty News

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

What is The Tax Faculty’s response to Mr. Engel wi...

20 March 2024
Faculty News

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

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...

Concourt on Bona Fide Inadvertent Error and USP's

07 October 2024
Compliance

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

SARS Giveth and SARS Taketh Away

25 March 2024
SARS Issues

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

SARS and Tax Court Closing Dates

08 January 2024
SARS Issues

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

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 Audit: How Far Back Can They Go?

09 April 2024
Audit, Reviews & Other Services

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

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

13 March 2024
Audit, Reviews & Other Services

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

Turnover Tax - Personal Service Providers

08 December 2023
Audit, Reviews & Other Services

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

eFiling Taxpayer Profile Hijackings on the Increas...

11 June 2024
eFiling

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

Address Unforeseen Threats Undermining Business St...

13 September 2024
Advisory Services

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

Renouncement By Heir

13 November 2024
Wills, Estates & Trusts

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

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Latest News Articles

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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

Salaried Employees 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

Transfer-Pricing News

Administration of Estates News

Customs and Excise News

Tax Update News

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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

Accounting for Income Tax News

Accounting for Income Tax News