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Latest News

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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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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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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FAQs: Credibility of Tax Education Programs by The...

This article deals with frequently asked questions about the credibility of tax education programs o...


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FAQs: SAIT vs The Tax Faculty

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


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Public Statement: SAIT vs The Tax Faculty

Using cancel culture tactics to destroy lives and crush hopes for a better better life for those who...


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Independent Contractor and PAYE

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


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Your SARS Residency Status Impacts Your Taxes and...

Whether you are a South African tax resident looking to diversify your investments or a tax non-resi...


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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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VAT: New and Improved Standard Turnover-Based Appo...

We explore the amendments to this new version of the BGR 16 and what it means for you in more detail...


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Beware: The characterisation of foreign exchange d...

In this article we highlight some of the noteworthy practical consequences of the amendments to be c...


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VAT Agency and Principals

Court allows zero VAT on commissions to foreign tour operators, emphasizing confidentiality of commi...


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Cessation of Tax Residency

A South African taxpayer in the UAE seeks to end tax residency in South Africa through the UAE/South...


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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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Non-Executive Directors and the Matter of 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...

In South Africa, being married in community of property entails sharing 50% of each spouse's investm...


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VAT and Disbursements

Correctly categorised attorney disbursements on separate invoices should not incur additional VAT, a...


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Sale of Share Options on Resignation

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


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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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Turnover Tax - Personal Service Providers

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


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Individuals Tax News

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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Corporate Tax News

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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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[FAQ] Small Business Corporation

[FAQ] Small Business Corporation


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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

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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Incorporating Trust Income and Donations in IT3 Th...

Through SARS eFiling, you can securely submit IT3 third party data to SARS.


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VAT News

VAT Exit Charge

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


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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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VAT: New and Improved Standard Turnover-Based Appo...

We explore the amendments to this new version of the BGR 16 and what it means for you in more detail...


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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

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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

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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Your SARS Residency Status Impacts Your Taxes and...

Whether you are a South African tax resident looking to diversify your investments or a tax non-resi...


Read More

Beware: The characterisation of foreign exchange d...

In this article we highlight some of the noteworthy practical consequences of the amendments to be c...


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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

FAQs: Credibility of Tax Education Programs by The...

This article deals with frequently asked questions about the credibility of tax education programs o...


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FAQs: SAIT vs The Tax Faculty

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


Read More

Public Statement: SAIT vs The Tax Faculty

Using cancel culture tactics to destroy lives and crush hopes for a better better life for those who...


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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...


Read More
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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

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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Rugby Memorabilia As Collectables

Rugby memorabilia might be eligible for capitalization but is unlikely to qualify for depreciation i...


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Miscellaneous News

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ChatGPT and AI for Accountants

ChatGPT and AI for Accountants


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