Tax

January 19, 2022

You cannot escape VAT when touring

On 25 May 2021, the Supreme Court of Appeal (SCA) upheld an appeal by the Commissioner for the South African Revenue Services (“SARS”) against Tourvest Financial Services (Pty) […]
January 19, 2022

Tax deductions for disability: Retroactive change relating to school fees

Expenditure prescribed by SARS and which is necessarily incurred and paid for by a taxpayer due to a physical impairment or disability is a qualifying medical […]
January 19, 2022

Retirement saved from controversial tax proposal

When an individual ceases to be a South African tax resident prior to retirement from a South African retirement fund and becomes tax resident of another […]
January 19, 2022

VAT: Special dispensation for motor dealers expired

Motor dealers may in certain instances pay an amount to a customer for a second-hand vehicle over the generally accepted trade-in market value reflected in the […]
November 22, 2021

Transfer of assets between spouses: What are the tax implications?

Section 9HB of the Income Tax Act provides for a roll-over of a capital gain or loss when an asset is transferred between spouses during their lifetimes. […]
October 8, 2021

Auditing your own taxes? Here’s what you need to know

Taxpayers who make use of the South African Revenue Service’s (SARS) electronic filing system (or as it is generally known, eFiling) will know that, in addition to containing a history […]
October 8, 2021

Balancing your business’s losses and taxes

In line with the 2020 Budget Announcement, Government proposes to broaden the corporate income tax base by restricting the offset of the balance of assessed losses […]
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 […]
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