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Latest News
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...
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Non-Executive Directors and the Matter of VAT
- 23 January 2024
- VAT
The CJEU ruled that non-executive directors are not taxable persons for VAT, sparking a debate on wh...
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You Could be Responsible for Your Spouses’ Tax Obl...
- 23 January 2024
- Accounting & Financial Reporting
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 & Financial Reporting
Correctly categorised attorney disbursements on separate invoices should not incur additional VAT, a...
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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...
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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...
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Turnover Tax - Personal Service Providers
- 08 December 2023
Entertainment industry contractors, facing potential double taxation due to 25% PAYE deductions, can...
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Rugby Memorabilia As Collectables
- 08 December 2023
Rugby memorabilia might be eligible for capitalization but is unlikely to qualify for depreciation i...
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VAT Invoice Requirements
- 07 December 2023
- Accounting & Financial Reporting
The VAT Act mandates specific details on invoices, including supplier and recipient names, addresses...
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SARS needs the money in your pocket …
- 06 December 2023
- VAT
SARS is short on revenue and the picture is looking bleaker by the minute. Like a desperate cat maki...
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Dividends interest on loan
- 04 December 2023
- Accounting & Financial Reporting
Debit loan interest below the official rate creates a deemed dividend, leading to dividends tax unde...
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Loans to Trusts - Section 7C
- 23 November 2023
- Accounting & Financial Reporting
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 & Financial Reporting
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 & Financial Reporting
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 & Financial Reporting
Delays in obtaining a Deceased Estate Clearance (DEC) certificate from SARS are explored, revealing...
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Beneficial Ownership Register
- 14 November 2023
- Trusts
Starting April 1, 2023, the Trust Property Control Act demands updated Beneficial Ownership records...
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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...
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Business Expenses - Capital Gains Tax
- 07 November 2023
- Accounting & Financial Reporting
The company can claim business expenses and deductions against its total income, including capital g...
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Enhancements to Trusts’ Beneficial-Ownership Info...
- 02 November 2023
- Tax Administration
SARS aims to meet FATF requirements by recording all BO of registered Trusts.
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Employer Interim Reconciliation Declarations (EMP5...
- 02 November 2023
- Tax Administration
Changes for the PAYE Interim Filing Season.
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Incorporating Trust Income and Donations in IT3 Th...
- 02 November 2023
- Tax Administration
Through SARS eFiling, you can securely submit IT3 third party data to SARS.
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Online Registration for Excise Diesel Refund for F...
- 02 November 2023
- Tax Administration
Learn more about the Excise Diesel Refund for Food Manufacturers Scheme.
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Are you a Tax Practitioner with Micro-businesses...
- 02 November 2023
- Tax Administration
Then you must tell them about Turnover Tax.
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Charging of Contingency Fees
- 02 November 2023
- Tax Administration
TP fees must align with the task's nature and complexity when working for a client.
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