Monthly SARS and Tax Update - October 2022
Presenters : Prof. Jackie Arendse
Overview
Are you managing to keep abreast of all the latest tax changes and SARS notices? It’s crucial for tax professionals to be informed about current developments. Our monthly SARS and Tax Update keeps you abreast of the latest developments in South African tax, focusing on the main issues that affect your business and your clients.
Recording Content
In the October Update we will discuss the following:
Recent tax judgments:
- IT 45628 - Taxation of restraint of trade payment and understatement penalty.
- CSARS v Wiese and Others (9 September 2022) (WCHC) - GAAR provisions in Income Tax Act ss 80A - 80L; and Tax Administration Act s 183 (personal liability of persons assisting in dissipation of assets) and s 169 (whether there was a ’tax debt’).
SARS documents
- Notice on auto-registration for personal income tax.
- New draft guide on the taxation of farming operations (comments due by 25 November 2022).
- Updated Interpretation Note no. 22 (Issue 5) - Transfer Duty.
- New Interpretation Notes:
- 123 Effect on the Date of Issue of a Share Arising from a Change in the Redemption Features.
- 124 Public Benefit Organisation: Provision of Residential Care for Retired Persons.
- Tax exempt institutions Connect Issue 1.
- Interest rates increase again.
- And any other relevant matters that may arise.
The monthly tax update recording unpacks the most current developments at SARS and tax practice, taking a practical approach to empower you understand how these changes and developments may affect you and your clients and keeping you on the cutting edge of tax practice in South Africa. The content presented in the webinar includes opportunities for you to expand and grow your practice.
Competencies developed in this recording
After attending this recording you will be:
- Updated with important and current changes in tax legislation and SARS practice
- Competent to apply the key aspects of new SARS documents published (i.e. binding rulings, interpretation notes, SARS guides/notices, etc.)
- Competent to advise clients about the impact of the latest tax amendments on their tax compliance and planning opportunities.
- Able to train your staff to prepare SARS compliant tax returns considering the latest amendments and SARS practice.
- Informed about topics to include in a client communique to alert you clients about recent developments impacting their tax compliance and planning opportunities.
- Competent to revise the tax planning strategy of clients.