Monthly SARS and Tax Update - October 2024
Presenters : Prof. Jackie Arendse
Overview
Stay ahead of the latest tax developments with the monthly SARS & Tax Update. This session covered the most recent case judgments, legislative amendments, and SARS guidance that were crucial for staying compliant and advising clients effectively. Tax professionals gained insights into current changes, practical compliance tips, and critical updates that impacted their practices.
Video Content
Constitutional Court Judgment:
- The Thistle Trust v CSARS [2024] ZACC 19
- Income Tax Act 58 of 1962 — Section 25B — Section 26A — conduit principle — capital gains tax — beneficiaries
- Tax Administration Act 28 of 2011 — understatement penalties — bona fide inadvertent error
SARS Documents:
- BGR 27 (Issue 2) and Interpretation Note 83 (Issue 3) - Application of Sections 20(7) and 21(5) of the VAT Act
- Interpretation Note - Disposal of assets by deceased persons, deceased estates, and transfer of assets between spouses (Sections 9HA, 9HB, and 25 of the Income Tax Act)
- SMME Connect Issue 9
- Company income tax deregistration
- Voluntary Disclosure Programme
Competencies Developed
After watching the video, participants are:
- Updated with important and current changes in tax legislation and SARS practices.
- Competent in applying key aspects of new SARS documents published, such as binding rulings, interpretation notes, and SARS guides/notices.
- Capable of advising clients on the impact of the latest tax amendments on their tax compliance and planning opportunities.
- Equipped to train staff in preparing SARS-compliant tax returns, taking into account the latest amendments and SARS practices.
- Informed about topics to include in client communiqués, alerting clients to recent developments that affect their tax compliance and planning opportunities.
- Competent in revising clients' tax planning strategies based on the latest updates.