Tax

September 13, 2021

When is a deposit included in gross income for tax purposes?

The South African Revenue Service recently published a new Interpretation Note relating to the taxation of deposits. In the ordinary course of business, taxpayers may receive money […]
September 13, 2021

Understanding VAT when temporarily leasing property

The VAT Act makes provision for the supply of residential fixed property by a VAT vendor (being a property developer) to be subject to VAT at […]
September 13, 2021

Anomalies in fringe benefits regarding retirement funds addressed

With effect from 1 March 2016, and in terms of paragraph 2(l) of the Seventh Schedule to the Income Tax Act, all employer contributions to a retirement fund on […]
August 23, 2021

Spouses and couples beware: Changes are on the way

Being a person’s spouse could have varying tax consequences, particularly where they are married in community of property. Currently, for income tax purposes, you are deemed […]
August 23, 2021

Application rejected! How to avoid ETI complications

In a Binding Private Ruling issued on 6 July 2021, SARS has made strict ruling on an Employment Tax Incentive Act (ETI) scheme that has been […]
August 23, 2021

Barter transactions: What is the tax cost of my asset?

Barter transactions are commonplace in today’s commercial environment. Parties exchange goods or services without a cash transaction underpinning it. The question is, “What happens when I sell the asset […]
August 23, 2021

Home office expenses: Do I qualify?

Tax practitioners have been inundated with queries from clients on the possible relief offered by the South African Revenue Service (“SARS”) on the possibility of deducting […]
July 27, 2021

Explained: Dividends according to the income tax act

Although there are several exclusions to the general rule, South Africa applies a withholding tax on dividends declared by companies at a rate of 20%. It […]
July 27, 2021

What to look out for when submitting your vat invoice

All value-added tax (VAT) vendors that have gone through a VAT verification from the South African Revenue Service know how frustrating the delays on input VAT refunds can be […]
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