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Latest 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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Binding General Ruling (VAT) 64 Issue 2

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


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Sponsorships

A company purchases a motorcycle branded with the company’s logo and marketing material to sponsor i...


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ITR 14: Get It Right the First Time!

Prior to the introduction of Tax Administration Act No 28 of 2011 (“TAA”) the role of the tax compli...


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In-need Welfare Donations Within Families

Client A is considering avenues for financial aid for her son, who grapples with mental health chall...


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Output VAT

What are the VAT implications for the client in terms of the insurance settlement?


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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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Section 7C Loans To Trusts

Trustee A's loan for a primary residence is exempt from Section 7C, but Trustee B's non-primary resi...


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Mandatory Disclosure Rules

The Mandatory Disclosure Rules process has been designed to improve compliance within the Common Rep...


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

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


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

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


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SARS Wants to Have its Cake and Eat it Too

In February 2024, SARS issued a Draft Interpretation Note on the Consequences of an Employer’s Failu...


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Exploring Compliance: Understanding Customs and VA...

Whether we like it or not, tax compliance has become the main focus of SARS. SARS treats non-complia...


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Compliance is the New Tax Currency

The Commissioner for SARS is in the process of tightening up tax compliance with a view of breaching...


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Tax Residency Of Former South Africans Returning T...

This discusses tax implications for returning South Africans, including residency criteria, asset in...


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En Commandite Partnership

En commandite partnerships tax both active and silent partners equally, with deductions limited by f...


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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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Disputed or Undisputed Tax Debt, That is The Quest...

Taxpayers and their advisors often face challenges navigating between suspension requests for disput...


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Film Entertainment Industry Tax

Seeking information on the current status of Tax Act Section 24F and the practical aspects of Sectio...


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VAT Exit Charge

When ceasing VAT registration, include assets with unclaimed VAT on the VAT123e form despite the law...


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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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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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VAT Apportionment: Revised Ruling

Binding General Ruling 16 prescribes the default ratio that vendors must use for input tax apportion...


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Individuals Tax News

SARS Wants to Have its Cake and Eat it Too

In February 2024, SARS issued a Draft Interpretation Note on the Consequences of an Employer’s Failu...


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Employee Share Schemes: South African tax Conside...

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


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Treatment of livestock at death

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


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Corporate Tax News

Compliance is the New Tax Currency

The Commissioner for SARS is in the process of tightening up tax compliance with a view of breaching...


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At it again: Capital v revenue

At it again: Capital v revenue


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Practice Note 31’s withdrawal

Practice Note 31’s withdrawal


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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

Mandatory Disclosure Rules

The Mandatory Disclosure Rules process has been designed to improve compliance within the Common Rep...


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Enhancements to Trusts’ Beneficial-Ownership Info...

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


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Employer Interim Reconciliation Declarations (EMP5...

Changes for the PAYE Interim Filing Season.


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VAT News

Binding General Ruling (VAT) 64 Issue 2

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


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Output VAT

What are the VAT implications for the client in terms of the insurance settlement?


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Exploring Compliance: Understanding Customs and VA...

Whether we like it or not, tax compliance has become the main focus of SARS. SARS treats non-complia...


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Payroll News

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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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INCREASED ACCESS TO COVID-19 TERS BENEFITS

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


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Transfer-Pricing News

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

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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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Groundbreaking case law impacting estate planning

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


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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

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

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


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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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Deferred tax assets and deferred tax on equity News

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Deferred tax assets for tax losses

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


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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

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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Understanding Dividend Taxation for South African...

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


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Accounting News

Sponsorships

A company purchases a motorcycle branded with the company’s logo and marketing material to sponsor i...


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ITR 14: Get It Right the First Time!

Prior to the introduction of Tax Administration Act No 28 of 2011 (“TAA”) the role of the tax compli...


Read More

In-need Welfare Donations Within Families

Client A is considering avenues for financial aid for her son, who grapples with mental health chall...


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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

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

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


Read More

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

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


Read More

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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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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