Webinars On-Demand

Section 12J of the Income Tax Act, albeit a very short section, is quite complicated when unpacking its working. To date, taxpayers have invested R10 billion into section 12J companies and it has proved to be a very popular investment vehicle. So, th e question is: How does section 12J actually work and what does one have to know before embarking on the journey of investing in these vehicles?

Overview You might be wondering: What is National Treasury and SARS doing to manage this base erosion and what new revenue streams or focus areas will they introduce in order to make up for this loss? The following question might be at the back of your mind: What tax and emigration considerations would these high-net-worth families leaving South Africa need to take and what are the tax consequences for the remaining wealthy families? Course Content In this webinar, we unpack and explore the following key questions and issues: Qualifying as a high-net-worth individual. Recap of the concepts of resident and non-resident. Family trusts and other topical tax implications for the high-net-worth individual. Tax emigration options post-financial emigration “switch off”. Tax emigrated – are you now tax and estate duty-free? Or estate duty, the expats conundrum. Investor visa tax benefits – why the new foreign tax-free life is tax costly in SA. The South African Trust – now a foreign or offshore trust subject to anti-avoidance rules. Recent developments will be unpacked, including amendments in the draft tax legislation regarding the three-year rule, Excon changes regarding loop structures, tax treaty provision, USA throwback tax and UK/AUS anti-avoidance rules against tax immigrant funders.

Segment 1: Tax News (30 minutes) Legislative updates SARS operations and trends SARS legal and policy New case law Speaker: Jean du Toit from Tax Consulting South Africa. Summary: Each week, SAIT issues the Weekly Tax Practice Highlights to its members. The newsletter is curated weekly by SAIT’s Tax Experts, using their years of experience to identify, investigate, and discuss the most important tax-related matters that arose in the past week, and cast forward to anticipate future events. The intention is to assist Tax Professionals in a very practical way, not only to stay up to date but also to share a ‘behind the scenes’ look with them that they would otherwise not be privy to. During the monthly Tax News, Jean du Toit provides a general overview and summary discussion of the past month’s Weekly Tax Practice Highlights. Jean touches on legislative amendments and general tax-related events but mostly focusses on SARS updates and practical operational matters. As with the weekly newsletter, the aim is to assist Tax Professionals to keep up to date with changes that may affect their Tax Practice. Segment 2: Tax Expert(s) on Topical Tax Matter(s) (30 minutes) Topic: Q&A on current technical and other service delay matters being experienced Speakers: Cecile Bothe, consulting to SAIT (ex SAR, with 44 years of experience at SARS from 1974 – 2018) and Beatrie Gouws, Head of Stakeholder Management and Strategic Development,SAIT. Summary: Cecile and Beatrie will discuss technical challenges and SARS operational matters, and generally be available to answer questions posed in the chat line.

Due diligence procedures are usually undertaken by acquirors of companies, or companies whose shareholders’ wish to exit. A tax due diligence is a complex and sophisticated undertaking requiring both tax law and financial statement disclosure e xperience. This session will explore various facets of a tax due diligence and will be presented by specialists in this field with many years of experience. Some of the areas of discussion will include: The different approaches required in different types of due diligences. A solid starting point – how to scope and plan for a due diligence. Access to information – virtual data rooms, information request lists, key questions to ask. Assessing the information – typical issues to watch out for and tried and tested methodologies. Consideration of practical examples from previous experiences. Impact of due diligence outcomes on a deal. Guest speakers from across the continent will provide an African perspective.

Stay up to date in the fast-paced world of tax by participating in our regular monthly updates. This is the last monthly tax update in our 2020 series. In this session, we will bring you the latest tax news and developments, including – U pdate on the 2020 Amendment Bills Guidance on claiming tax deductions for home office expenditure (as requested in last months webinar) Latest case judgments Highlights related to recent updates to SARS documents such as Rulings, Interpretation Notes, Notices, etc. The webinar unpacks these developments, taking a practical approach to help you understand how the legislation and developments in the tax space may affect you, your employer and your clients. Join us for this webinar that promises to be extremely valuable in providing an overview of the most important changes and developments. #Be current! #Be relevant!

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