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2020 Webinar: Offshore tax planning options for a SA tax resident - Webinar 1

Many South African residents want to make use of tax planning options to minimize their South African tax consequences. Proper structuring is necessary to ensure that the most efficient options are made use of. If not, taxpayers might be faced with p roblems and unexpected tax consequences in future. Structuring should not only take the current tax savings and benefits into account when structuring, but also the future tax that could arise in subsequent periods. A holistic and long-term perspective is important in choosing the best tax planning option. The first webinar in this series of three webinars will be taking place on 30 April. The session will concentrate on the use of an offshore trust to create an international estate plan to hold investments and passive growth assets. This webinar will also address how to terminate SA tax residency as an ultimate personal tax plan. This webinar will cover the following- The process of how to set up an offshore estate plan (using an offshore trust or foundation) to protect and shelter tax in SA whilst remaining SA tax resident Explaining the correct role of the SA settlor, the foreign trustees, a Protector, and the SA beneficiaries Explaining the limited tax benefits associated with an offshore trust where conservative long-term capital growth is the objective (such as unit trusts or holding foreign residential property) Protocols regarding how the trust and underlying companies that it controls should function, identifying the benefits and disadvantages How to fund an offshore trust and conduct investment activity in compliance with SA tax and Exchange Control Explaining the SA tax rules affecting an offshore trust and distributions to SA beneficiaries The protocols and tax planning issues involved with repatriating funds back to SA Exploring the ultimate personal tax pan: Terminating SA tax residency, illustrating the choice of Mauritius as a viable tax residency location Identifying key SA Exchange Control restrictions if SA residency (in terms of Exchange Control rules) is retained, illustrating the benefits of financial emigration Understanding the Common Reporting Standard and the transparency of information sharing with SARS


2 Hours | R475.00
Mark Andrew Korten

2020 Webinar: Capital Gains Tax

Capital Gains Tax has a reputation of being complex and scary. It needn’t be. Disposals occur on a daily basis and any taxpayer could be subject to Capital Gains Tax: natural persons, corporates, trusts, deceased estates, etc. Join Carmen We stermeyer in this session that will provide an introduction and basic overview of the basic principles that form the core of Capital Gains Tax. The following key questions will be addressed: How is Capital Gains Tax calculated? When and how must Capital Gains Tax be paid? Which exclusions are available? How does it feed into the tax return? The session will cover the key provisions of the Eighth Schedule as well as examples of common transactions giving rise to Capital Gains Tax.


2 Hours | R475.00
Carmen Westermeyer

2020 Webinar: Monthly Tax Update - April

Staying up-to-date and relevant has always been critical for success. Join Professor Jackie Arendse who will share an overview of the most important recent legislation, recent judgements and recent SARS documents. Although the month of April is s pent in lockdown, a lot has happened in the tax arena. It is important to stay abreast of developments to best advise and assist clients and manage your business effectively. This webinar promises to be very interesting and will cover, inter alia, the following important recent developments: Recent legislation National Legislation – COVID-19 Draft Tax Bills Following the media statement issued by the Minister of Finance on 29 March 2020 on Tax Measures to Combat the COVID-19 pandemic, the National Treasury and the South African Revenue Service (SARS) published the following for public comment: Draft Disaster Management Tax Relief Bill, 2020; Draft Disaster Management Tax Relief Administration Bill, 2020; and Draft Explanatory Memorandum on the Disaster Management Tax Relief Bill, 2020 Recent judgments Telkom SA SOC Limited v The Commissioner for the South African Revenue Service (Case no 239/19) [2020] ZASCA 19 (25 March 2020) Section 24I of the Income Tax Act deals with foreign exchange gains or losses. Specifically the proviso to section 24I(10) is questioned. Diageo South Africa (Pty) Ltd v Commissioner for the South African Revenue Service (330/2019) [2020] ZASCA 34 (03 April 2020) Interpretation of section 8(15) of the Value Added Tax Act. Focusing on the deeming provision, in the form of a single supply of advertising and promotional goods and services to non-resident entities. Marais N.O. and Another v Maposa and Others (642/2018) [2020] ZASCA 23 (25 March 2020) Matrimonial Property Act 88 of 1984. The question is asked whether a donation of the asset of a joint estate requires consent of spouses in terms of section 15(3)(c). Where consent has not been given, the question arises whether consent is deemed to have been given in terms of section 15(9)(a). Recent SARS documents Interpretation Note 47 (Issue 3 & 4) – Wear-and-tear or depreciation allowance Binding General Ruling (BGR) 7 (Issue 3) – Wear-and-tear or depreciation allowance Binding General Ruling (BGR) 14 (Issue 3) – VAT treatment of specific supplies in the short-term insurance industry Binding General Ruling (BGR) 52 – Timeframe for the export of goods by vendors and qualifying purchasers affected by the global COVID-19 pandemic Draft Interpretation Note – Value-added tax consequences of points-based loyalty programs Draft Interpretation Note – Income Tax: Taxation of amounts received by or accrued to missionaries


2 Hours | R475.00
Prof. Jackie Arendse

2020 Tax Relief Measures during Covid-19: Webinar 7: Life after COVID-19/Understanding the economic impact - Free Webinar

President Ramaphoza announced a number of tax relief measures amid the Covid-19 disaster. SARS recognise that tax professionals are central to support taxpayers and small businesses during the period of national disaster and announced that SARS wi ll be issuing extensive communication on the implementation of the tax measures through its strategic stakeholders. This free Webinaris partof a series of Technical Alerts and Webinars that the Tax Faculty, SAITand SA Accounting Academywill facilitate to keep you updated, including important changes in the SARS systems and processes. Overview Webinar 7, of this webinar series, will be dedicated towards a discussion of a tax regime post COVID-19. Once the COVID-19 pandemic has been contained, certain important questions need to be raised: What incentives will government introduce to prevent COVID-20? Unless dramatic measures are taken to prevent uncontrolled spread of viruses, regular lockdowns may become a “way of life?”. Tax breaks and other incentives should be considered for activities designed to reduce the risk of future outbreaks. These may vary from personal screening devices to preventative measures taken at large gatherings. Will COVID-19 cause a long-term reduction in social interaction and cause an accelerated reliance on the digital economy? How will this impact the tax regime where the source of income and places of supply are even more blurred? What is the future of the VAT system, the PAYE system and the Income Tax System in a world where persons may become more and more isolated and economic activity is digital and not physical? In addition to this the broader economic impact of Covid-19 will be unpacked in more detail, based on the article presented by Lullu “Impact of trade-disrupting COVID-19 on South African Business”


2 Hours | R0.00
Johan Heydenrych CA(SA)

2020 Tax Relief Measures during Covid-19: Webinar 5: Consumer Markets - Free Webinar

President Ramaphoza announced a number of tax relief measures amid the Covid-19 disaster. SARS recognise that tax professionals are central to support taxpayers and small businesses during the period of national disaster and announced that SARS wi ll be issuing extensive communication on the implementation of the tax measures through its strategic stakeholders. This free Webinaris partof a series of Technical Alerts and Webinars that the Tax Faculty, SAITand SA Accounting Academywill facilitate to keep you updated, including important changes in the SARS systems and processes. Overview Webinar 5 will be dedicated towards the challenges facing the supplier of goods and services to the final consumer. In particular, we will draw a link between the Consumer Protection Act and the Income Tax and Value-Added Tax Acts. We will inter alia discuss the following: How the Consumer Protection Act affects the accrual of income by the taxpayer. Prepayments, section 24C, cancellations and rescheduling of events. What are the VAT and Income tax implications of various types of penalties and additional charges levied by the suppliers of goods and services where services are cancelled or postponed by consumers? What are the VAT and income tax implications of increased levels of bad and doubtful debts? What are the income tax and VAT implications where the taxpayer incurs penalties and interest due to e.g. late payment of rent?


2 Hours | R0.00
Johan Heydenrych CA(SA)

2020 SARS Audit, verification and assessment

Many taxpayers are selected for SARS audits or verification. It is important to know what rights you have as a taxpayer and what requirements you must adhere to in order to be compliant with the requirements of the Tax Administration Act. In this web inar, we will unpack the audit and verification processes and share what to expect during an audit or verification. We will also discuss how to prepare for an audit or verification as well as how to communicate with SARS during this process. This webinarcovers the principles related to a SARS audit or verification as well as the practical considerations, such as how to communicate with SARS and what taxpayers should do if they are not in agreement with audit findings. The webinaris practical and hands-on and attendees will be exposed to case-study based learning. Course Content The webinarwill take the form of covering the processes, principles and rules related to audits and verifications as well as case-study based learning of how to communicate with SARS during these processes, including examples of letters and documents. We will also address the options available to taxpayers when not in agreement with SARS audit findings.


4 Hours | R575.00
Johan Heydenrych CA(SA)
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