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2020 Tax Relief Measures during Covid-19: Webinar 6: COVID-19 and the Large Corporate - 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 6, of this webinar series, will deal with the unintended consequences to the large corporate. We will inter alia discuss the following: The implications of the care and maintenance phase for the mining company. Of main concern is the fact that certain costs that would otherwise have been tax deductible, are deemed to be capital expenditure during any period of non-production. Availability of Section 11(e) and other allowances during periods on non-production. The valuation of stock at year-end. This may be relevant where excessive stock levels are present due to decreased demand. Tax treatment of increased funding required due to decreased activities. The funding may be obtained from connected parties and non-connected parties and may take the form of equity, loans or hybrid instruments. The tax treatment of retrenchments, reorganisations, mothballing of plants and related activities related to reduced activities. A recap of the treatment of bad and doubtful debts from a VAT and income tax perspective. Link between IFRS 9 and section 11(j) and 11(jA) for the large corporate.

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

2020 Webinar: Financial emigration vs tax emigration

Various South Africans are required to work abroad. Many questions arise related to the taxing of income earned by these South Africans. Double tax agreements, the location of the employee’s family and home, the duration of the agreement and va rious other factors could impact the tax consequences and considerations. An assessment is then necessary of whether the South African is tax non-resident or has emigrated because of a treaty or other circumstances, and whether the correct process was followed from a financial, legal and tax perspective. The new tax rules impact differently on expats, all depending on the Income Tax Act’s definition of “tax resident” as applied to their personal circumstances. Course Content Join Hugo van Zyl who will share his expertise on, inter alia, the following practical problems: An update on the process already put in place by SARS (existing and new processes). What does South African employers of seconded staff need to do? What are the VAT implications of assignment-related cost charges? Are the assignment-related costs borne by the home entity deductible for corporate income tax purposes? Some countries in the Middle East have double tax agreements with South Africa, but the problem is that a lot of them don’t have a tax revenue office, which means you cannot get a tax resident certificate to prove to SARS that you’re a tax resident there. What process should then be followed? If a couple is based in South Africa, and one spouse is predominantly working outside the country in Africa and the other is working in South Africa, will they be regarded as SA tax residents? Does it matter whether you work in a country with no double taxation agreement or in a country where there is a double taxation agreement? Does it have an impact on residency? What is the (financial, legal and tax) process to change my residency status? Can I do this myself or do I need to get a professional involved? How does it impact on my employer? If I change my residency status to not resident, can I still own property in SA? What will be the tax consequences when changing my residency status and are there ways of reducing this tax? Must I give SARS a physical address in SA or outside SA when I am a non-resident? Does the fact that I have a dual passport impact my residency status? I have left SA and don't have the intention to return. Could I be subject to penalties on my unplanned return? If so, can I get them reduced or remitted? Do I still need an active tax reference number if I become non-resident and own property in SA or have an investment in SA? As a non-resident, must I still submit a return when withholding tax was withheld on interest or royalties or dividends? OK, I am liable for expat tax, but when and how do calculate it and how do I pay SARS?

2.5 Hours | R475.00
Hugo van Zyl

2020 Tax Relief Measures during Covid-19:Webinar 4: The employer and the employee – Practical application - Free Webinar

In webinar 4 of this webinar series, we unpack what the impact of the COVID-19 lockdown will be on the employer and the employee from a tax perspective. We will inter alia discuss the following: The provision of medical assistance to employe es. The tax implications of short-term loans granted to employees. The income tax and VAT impact of business-related expenditures incurred by employees. Evidentiary implications associated with reimbursement of e.g. telecommunication cost, wifi will be discussed. The maintenance of a travel logbook by employees on stand-by and use of company cars by employees on stand-by. The tax implications for providing your employee with shopping vouchers to enable them to stock up on food.

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

2020 Tax Relief Measures during Covid-19: Webinar 3: Employer and Employee (PAYE and UIF Specific) - Free Webinar

Webinar 3 will focus on the employer and employee related implications of the COVID-19 relief measures introduced by Government with special focus on PAYE and UIF implications. Click here to view the article on: Important updates to TERS benefit i nformation We will inter alia discuss the following: Understanding the application for special dispensation through which employees will receive wage payment through the Temporary Employee Relief Scheme – and unpacking the application form; PAYE payment deadlines falling within the lockdown period; Understanding the SMME portal for Small Business Development where small businesses can complete a from for funding assistance with rental and operational costs – unpacking the form; Understanding the application to Temporary Employee Relief Scheme for any employees who might fall ill through exposure at their workplace; Unpacking the Easy-Aid guide for employers (reduced work time benefits/illness benefits/dependents benefits) Employers/clients who pay weekly wages - should pay their staff in advance for the duration of the lock down period and wait for compensation from the UIF and if the UIF will pay the employer or employee. How will the temporary lay-offs be treated for UIF and what is the expected turn-around time for claims to be paid? Will any electronic way of submitting these claims be made available to fast track this, as business is still concerned about the well-being of its employees in these times, even if difficult decisions need to be made. Implications of the temporary reduction of contributions to UIF and SDL. Implications of delaying 20% of the PAYE obligations by 4 months for tax compliant employers with turnover less than R50m

2 Hours | R0.00
Rob Cooper

2020 Tax Relief Measures during Covid-19: Webinar 2 - Supporting Liquidity through grants and government aid - Free Webinar

Webinar 2 will be dedicated towards understanding the tax treatment of government grants and subsidies as well as the tax treatment of donations by corporates and individuals. We will inter alia discuss the following: General rules of grants and subsidies in the absence of any specific legislation. Change of rules to current programs as a result of the COVID-19 government response Specific COVID-19 grants issued and changes made to current programmes; COVID-19 SMME Emergency Funding Package issued by the Department of Small Business Development, SEDA and SEFA

2 Hours | R0.00
Duane Newman, Karen van Wyk GTP(SA), Nadia Rawjee

2020 Tax Relief Measures during Covid-19: Practical Issues and Guidance on its Implementation - Free webinar

This recording focuses on unpacking the resources made available by Government as well as the explanation of any Practice Notes to be issued by SARS as of 30 March. The list of current guidance is the following: Customs and Excise operationa l updates (Caroline) Notice on Compensation for Occupationally-Acquired Novel Corona Virus Disease (Covid-19) under compensation for Occupational Injuries and Diseases Act, 130 of 1993 as Amended (Issued through Government notice on 2020/03/20) Easy Aid guide for employers released by the department of employment & labour; Tax Administration Act – Late submissions (would Lockdown qualify as exceptional circumstances?), how to apply for remittance of penalties/interest, as a tax practitioner how can I build a case for my client? As well as missed deadlines in terms objection and appeal processes.

2 Hours | R0.00
Duane Newman, Karen van Wyk GTP(SA), Caroline Rheeder
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