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Accounting News
Loan to a Trust From a Company Where the Trust is...
- 12 December 2024
- Accounting
Company A is fully owned by Trust E, which is a family trust.
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Tax Exempt Institutions Connect Newsletter Special...
- 05 December 2024
- Accounting
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...
- 18 November 2024
- Accounting
Is this arrangement considered a fringe benefit for the CEO, or is it classified as a normal securit...
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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)...
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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...
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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...
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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...
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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...
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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...
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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...
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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...
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Claiming Medical Expenses
- 23 July 2024
- Accounting
Under the Income Tax Act 58 of 1962, Section 6B(3)(c), taxpayers under 65 without medical aid can cl...
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After Registering with the Financial Intelligence...
- 11 June 2024
- Accounting
Registering with the FIC is a crucial step for any accounting firm aiming to combat financial crimes...
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Why Must My Firm Register as an Accountable Insti...
- 06 June 2024
- Accounting
Money laundering involves manipulating money or property to disguise its true origin. Criminal activ...
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Sponsorships
- 20 May 2024
- Accounting
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!
- 13 May 2024
- Accounting
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
- 08 May 2024
- Accounting
Client A is considering avenues for financial aid for her son, who grapples with mental health chall...
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Section 7C Loans To Trusts
- 02 May 2024
- Accounting
Trustee A's loan for a primary residence is exempt from Section 7C, but Trustee B's non-primary resi...
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Tax Residency Of Former South Africans Returning T...
- 11 April 2024
- Accounting
This discusses tax implications for returning South Africans, including residency criteria, asset in...
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En Commandite Partnership
- 11 April 2024
- Accounting
En commandite partnerships tax both active and silent partners equally, with deductions limited by f...
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Disputed or Undisputed Tax Debt, That is The Quest...
- 08 April 2024
- Accounting
Taxpayers and their advisors often face challenges navigating between suspension requests for disput...
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Film Entertainment Industry Tax
- 27 March 2024
- Accounting
Seeking information on the current status of Tax Act Section 24F and the practical aspects of Sectio...
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Your SARS Residency Status Impacts Your Taxes and...
- 22 February 2024
- Accounting
Whether you are a South African tax resident looking to diversify your investments or a tax non-resi...
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Beware: The characterisation of foreign exchange d...
- 22 February 2024
- Accounting
In this article we highlight some of the noteworthy practical consequences of the amendments to be c...
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Cessation of Tax Residency
- 02 February 2024
- Accounting
A South African taxpayer in the UAE seeks to end tax residency in South Africa through the UAE/South...
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You Could be Responsible for Your Spouses’ Tax Obl...
- 23 January 2024
- Accounting
In South Africa, being married in community of property entails sharing 50% of each spouse's investm...
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VAT and Disbursements
- 16 January 2024
- Accounting
Correctly categorised attorney disbursements on separate invoices should not incur additional VAT, a...
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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...
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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...
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CGT Roll-Over
- 15 November 2023
- Accounting
Inheritance of property by a surviving spouse could trigger CGT, allowing a rollover for a resident...
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Tax & Deceased Estate
- 15 November 2023
- Accounting
Delays in obtaining a Deceased Estate Clearance (DEC) certificate from SARS are explored, revealing...
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Business Expenses - Capital Gains Tax
- 07 November 2023
- Accounting
The company can claim business expenses and deductions against its total income, including capital g...
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Deferred tax assets for tax losses
- 20 August 2020
- Accounting
Entities that have tax losses are likely to find themselves in a position where they have to conside...
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[FAQ] A loan by a natural person, or a connected p...
- 05 June 2020
- Accounting
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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