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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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Sole Proprietor - Micro Business Tax

Sole proprietors projecting a loss in the 2024 tax year.


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Analysing Annual Financial Statements: Tax Pitfall...

Analysing Annual Financial Statements: Tax Pitfalls and Opportunities


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[FAQ] Tax Tips

[FAQ] Tax Tips


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[FAQ] Cancellation Of Tax Directive

Cancellation Of Tax Directive


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The facts on expatriate tax and tax emigration in...

The facts on expatriate tax and tax emigration in practice


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A different kind of melting pot? Implementation of...

A different kind of melting pot? Implementation of the two-pot retirement system pushed to 2024


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SA trusts and non-resident beneficiaries: proposal...

SA trusts and non-resident beneficiaries: proposal to address tax avoidance


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Asset-for-share exchanges: Relief where anti-avoid...

Asset-for-share exchanges: Relief where anti-avoidance provisions bite


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Review of “qualifying purpose” in the context of t...

Review of “qualifying purpose” in the context of third-party backed shares


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The lights are still not on, but someone has final...

The lights are still not on, but someone has finally come home


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[FAQ] Section (1)(o)(ii) - director and shareholde...

Section (1)(o)(ii) - director and shareholder of the company


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[FAQ] When are losses ringfenced?

When are losses ringfenced?


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The repeal of Practice Note 31 and the impact on t...

The repeal of Practice Note 31 and the impact on the deductibility of interest


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eFiling registration enhancements for Trusts

eFiling registration enhancements for Trusts


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Are you “affected” by the release of SARS’ Interpr...

Are you “affected” by the release of SARS’ Interpretation Note 127?


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[FAQ] Taxation of an honorarium

[FAQ] Taxation of an honorarium


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The devil is in the detail: When new grounds of ap...

The devil is in the detail: When new grounds of appeal can be raised, and when not


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[FAQ] Medical Disability ITR-DD the date of signat...

[FAQ]Medical Disability ITR-DD the date of signature or date diagnosed


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[FAQ] Dividends Tax when shares are transferred

[FAQ] Dividends Tax when shares are transferred


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[FAQ] Can a sole proprietor be his employee and ha...

[FAQ] Can a sole proprietor be his employee and have a travel allowance?


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Anticipated increase in the price of excise duty s...

Anticipated increase in the price of excise duty stamps as the KRA calls for comments on the Draft E...


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The unexpected penalties bill from the 2022 tax se...

The unexpected penalties bill from the 2022 tax season: Everybody gets one?


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Interpretation Note 10 (Issue 4) – Skills developm...

Interpretation Note 10 (Issue 4) – Skills development levy exemption: Public benefit organisations


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Bad-debt Relief for Tax Purposes is Possible witho...

Bad-debt Relief for Tax Purposes is Possible without Legal Proceedings


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A thistle in the side of tax policy

A thistle in the side of tax policy


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The Voluntary Unclaimed Financial Assets Disclosur...

The Voluntary Unclaimed Financial Assets Disclosure Programme: The waiver of penalties and the tax a...


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Crypto regulatory void no more? Impact of FAIS reg...

Crypto regulatory void no more? Impact of FAIS regulation on exchange control and tax rules


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Use of preference share proceeds to fund employee...

Use of preference share proceeds to fund employee share ownership plan


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National Treasury and SARS refine “two pot” retire...

National Treasury and SARS refine “two pot” retirement proposals in response to feedback


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Draft National Tax Policy: Overview and critique

Draft National Tax Policy: Overview and critique


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South Africa: 6 Crypto Myths busted!

South Africa: 6 Crypto Myths busted!


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Ten things you ought to know about SA’s planned tw...

Ten things you ought to know about SA’s planned two-pot system for retirement savings


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Media Advisory: Medium Term Budget Policy Statemen...

Media Advisory: Medium Term Budget Policy Statement Date Confirmed


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Tax Directive Software Implementation

Tax Directive Software Implementation


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A minefield of taxes lies ahead for crypto asset t...

A minefield of taxes lies ahead for crypto asset transactions


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The mining of crypto assets has complex income tax...

The mining of crypto assets has complex income tax and VAT implications.


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How do I request a correction?

How do I request a correction?


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What do I do if I forgot my eFiling password?

What do I do if I forgot my eFiling password?


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How do I update my security contact details on eFi...

How do I update my security contact details on eFiling?


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How do I declare additional medical expenses on my...

How do I declare additional medical expenses on my return?


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Concession or compromise of a debt

Concession or compromise of a debt


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Busting myths about provisional tax

Busting myths about provisional tax


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Crypto Assets & Tax: Current Tax Issues

Crypto Assets & Tax: Current Tax Issues


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Table 3 – Rates at Which Interest-free or Low Inte...

Table 3 – Rates at Which Interest-free or Low Interest Loans are Subject to Income Tax


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Binding Class Ruling: BCR 079 - Cancellation of Sh...

Binding Class Ruling: BCR 079 - Cancellation of Share Exchange


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A primary residence used partly for trade

A primary residence used partly for trade


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Update on Disputes issue on eFiling

Update on Disputes issue on eFiling


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Safeguarding SARS Systems

Safeguarding SARS Systems


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SARS Alert - eFiling enhancement

SARS Alert - eFiling enhancement


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Travel eLogbook 2022-2023

Travel eLogbook 2022-2023


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Employees’ allowances for 2023 year of assessment

Employees’ allowances for 2023 year of assessment


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SARS Alert I Income Tax Notices 2022

The Government Notices on this page have been issued in terms of the Income Tax Act, 1962, and have...


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Interpretation Note 28 (Issue 3) - Income Tax Act...

Deductions of home office expenses incurred by persons in employment or persons holding an office.


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[FAQ] The deduction of travel expenses when no tra...

A taxpayer is receiving two sources of income: a pension and a salary. He does not receive a travel...


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Working from home and claiming home office expense...

To answer the questions of who, when and what would qualify for a deduction, the SARS has issued gui...


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The tax treatment of crypto asset transactions

Among these are questions surrounding the tax treatment of crypto asset transactions which have incr...


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[FAQ] Tax-free investment made on behalf of a mino...

A taxpayer opened a tax-free investment for his 2-year old daughter in her name. Is this declared in...


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[FAQ] Medical expenses paid on behalf of an employ...

On compassionate grounds, the employer paid doctor's consultations and tests for an employee, who is...


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[FAQ] Section 6B tax credits for an individual tha...

A taxpayer is over 65 years old and is not a member of medical aid/ hospital plan. Can an individual...


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[FAQ] Section (10)(1)(o) where medical treatment i...

A taxpayer is on sick leave and receives treatment outside South Africa and is therefore out of the...


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[FAQ] The South African tax implications of foreig...

A non-resident (USA resident) has been living with his life partner, who is in South Africa.He is re...


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[FAQ] Foreign donations received for missionary wo...

The taxpayer is a South African missionary who receives foreign donations in excess of R2 million a...


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[FAQ] Distributions from a Trust when married in c...

A taxpayer is married in community of property. Would the distributions received from a trust (capit...


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[FAQ] The applicable exchange rates when competing...

A South African taxpayer works in Mozambique and the salary and benefits he earns are paid in Mozamb...


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[FAQ] Tax residency for an individual living in Gu...

A taxpayer left South Africa and moved to Guernsey on 1 March 2020. He has not formally emigrated, b...


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[FAQ] The tax treatment of a loan owing to a conne...

A company has an outstanding loan owing to a connected person(an individual). The company is in the...


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[FAQ] The distribution of property income between...

A married couple bought a property for the purpose of renting it out together. The husband is on a h...


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[FAQ] Exemption of remuneration earned by the crew...

A South African resident is employed by a company to charter guests on an international yacht. Will...


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[FAQ] Voluntary severance package & 10% shareholdi...

A taxpayer, who is a director holding 10% shareholding in a company, also received a voluntary sever...


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[FAQ] Assets disposed of in foreign currency

If a taxpayer has money overseas and bring it back to South Africa, will he/she be taxed on exchange...


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[FAQ] Business travel for a sales representative

A taxpayer operates mainly from her home office as a sales rep where she travels to and from recurri...


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[FAQ] Gap cover and medical scheme tax credits

The taxpayer belongs to a medical aid. During 2020 he received refunds from his gap cover. He wants...


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[FAQ] Bursaries to a director’s relatives

A taxpayer, who is also a director, employed his daughter to work for the company. Can he offer he...


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[FAQ] How to treat finder’s fees in the hands of t...

A company pays an employee a R10 000 “finder’s fee” if the company recruits an individual that was r...


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[FAQ] Non-resident and the vesting of equity instr...

A taxpayer was employed by a South African company and subsequently transferred to the company's UK...


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[FAQ] Income tax on commission earned

A taxpayer earns an average monthly commission of R30,000 and also has commission related expenses....


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[FAQ] Travel allowance on a rented vehicle

A taxpayer received a travel allowance under code 3701. He doesn't own a car but rents a car under a...


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Medical aid and retirement annuity payments made o...

A couple is married in community of property. The husband is the main member of the medical aid and...


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[FAQ] Capital Gains Tax on a primary residence whe...

Two taxpayers are married out of community of property and their primary residence is registered in...


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[FAQ] Research and development not approved by the...

A company does research and development. No approval has been obtained from the Minister of Science...


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[FAQ] Right of use of motor vehicle for office and...

The individuals who are not office-bound are not taxed on the use of company vehicles, but the offic...


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[FAQ] The ITR12 in the year a taxpayer ceases to b...

The date the individual ceased being a resident of the RSA must be disclosed in the ITR12


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The audit process – recent case law and the taxpay...

The recent case of Carte Blanche Marketing CC and Others v Commissioner for the South African Revenu...


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[FAQ] Property financed by a taxpayer but register...

A taxpayer purchased a property to renovate and resell. This property was financed by the taxpayer b...


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[FAQ] Foreign income and the applicable tax rate

If a taxpayer is working abroad and has received income in excess of R1.25million, what will the tax...


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BPR 354 – Cash grants to an employee incentive tru...

While income tax legislation and accounting standards generally operate independently of each other,...


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[FAQ] Amounts refunded to employers

A taxpayer was paid a bonus of R525 000. He signed a contract stating that he must meet certain requ...


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Broadening the scope of application: tax laws reac...

The use of cryptocurrencies and other crypto assets are becoming increasingly popular, especially in...


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Deducting Home Study Expenditure

Many employees will be wanting to deduct, for tax purposes, expenses relating to the use of a part o...


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Tax treatment of losses incurred during lockdown

In this alert we take a look at the effect that the national lockdown may have on expenditure or los...


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Fowler (Respondent) v Commissioner for Her Majesty...

Mr Martin Fowler is a qualified diver who is resident in the Republic of South Africa. During the 20...


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Covid-19 Tax Measures FAQ's

Disaster Management Tax Relief FAQ’s for Employees’ Tax, ETI and Provisional Tax


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Provisional Tax Exemption (Paragraph 19 of the Fou...

An additional proviso (ii) to paragraph 19(1)(a) of the Fourth Schedule was inserted to the Act prov...


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Foreign Employment Tax Exemption (Section 10(1)(o)...

Remuneration in respect of services rendered outside the Republic for or on behalf of any employer i...


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Interpretation Note 113 - Apportionment of surplus...

This Note provides clarity on the tax treatment of the actuarial surplus allocations/distributions m...


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Unforeseen tax impact in amendments to articles of...

Authors: Joon Chong & Daniel Kirk-Cohen


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Loan funding to offshore trusts: the interaction...

Author: Hannelie La Grange


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OECD releases discussion draft on the treaty resid...

Author: OECD


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Debt Forgiveness & CGT

Posted by: SAIT Technical


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Enjoyment Versus Profit is the Key to Being a Coll...

Author: David Warneke


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Primary Residence Exclusion

Author: ENS


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SA’s rich ‘likely to bear brunt of expected tax i...

Author: Ntsakisi Maswanganyi


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I’m not putting my money into tax-free savings ac...

Author: Matthew Lester


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Correction of CGT treatment when a trust grants e...

Author: Dan Foster


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Tax Transparency – the Common Reporting Standard:...

Author: BDO South Africa


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Vendor beware: capital gains tax on instalment sal...

Author: Ben Strauss


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Exchange control – update regarding post SVDP regu...

Author: Louis Botha


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Tax consequences of the part waiver of a loan

Authors: Heinrich Louw, Gigi Nyanin & Mark Morgan


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Condonation for the late filing of an appeal

Author: Gigi Nyanin


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Tax Court pronounces on the capital gains tax rule...

Author: Jerome Brink


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When should SARS condone a late appeal?

Author: Nico Theron


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Tax consequences of waiver of contractual rights

Author: Ben Strauss


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“I missed the SVDP deadline … What do I do now?”

Authors: Louis Botha and others


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When proceeds accrue

Author: Heinrich Louw


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Immigration, emigration and exchange control: What...

Author: Louis Botha


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Bargaining councils offered reprieve over neglecte...

Author: Amanda Visser


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What are the tax and exchange control implications...

Authors: Robert Gad and others


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The countdown begins for retirement funds to comp...

Authors: Leigh Sedice and Sajeel Bhagwanjee


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Buying a house and paying transfer duty – Separate...

Author: Louis Botha


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Deductibility of legal expenses

Author: Gigi Nyanin


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Fiscal Pressure - Tax hikes are not the solution

Author: Joon Chong and others


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Consecutive asset-for-share transactions

Author: Ben Strauss


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Tax break for employees on voluntary retrenchment...

Author: Webber Wentzel


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Jumping fences: Section 20A of the Income Tax Act...

Authors: Louis Botha and Louise Kotze


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PWC Tax Alert: Travel Reimbursements

Authors: Barry Knoetze & Kerry Aylward


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Common misconceptions: Tax treatment of directors...

Author: Leani Nortje


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E-filing and Submission of Tax Returns

Author: Dr Beric Croome


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Revised debt reduction rules

Author: Annalie Pinch


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Under the radar: Today one tax rate, tomorrow anot...

Authors: Louis Botha and Heinrich Louw


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Tax non-compliance status may be inaccurate

Authors: Joon Chong, Nina Keyser and others


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Potential amendments affecting foreign trusts hold...

Author: Joon Chong


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Treasury includes cryptocurrency in draft tax leg...

Author: Cliffe Dekker Hofmeyr


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Treasury clarifies the clogged-loss rules

Author: Jessica Carr


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Far-reaching proposed changes to the taxation of...

Authors: Jenny Klein and Sheryl Kunaka


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Reassurance for taxpayers seeking debt relief

Author: Jerome Brink


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Cruel accrual? An important judgment for taxpayer...

Authors: Louis Botha and Heinrich Louw


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Investing abroad? The foreign investment allowanc...

Author : Louis Botha


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South African Tax Court rules in favour of taxpay...

Authors: Mareli Treurnicht and Emil Brincker (Cliffe Dekker Hofmeyr)


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South African Tax Court rules in favour of taxpay...

Authors: Mareli Treurnicht and Emil Brincker (Cliffe Dekker Hofmeyr)


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