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

POPIA and third-party access to credit information

When it comes to the protection of personal information, there are two acts that govern businesses and those working with such information. The Protection of Privacy […]
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 is a “transaction” for transfer duty purposes?

According to reports, given current low interest rates, there have been an uptick in property transactions. Therefore, it is worthwhile considering the potential impact of any transfer duty taxes to […]
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