June 22, 2018

TAX ALLOWANCES AGAINST ASSETS USED FOR PURPOSES OF TRADE

The Income Tax Act[1] allows for various income tax allowances to be claimed in respect of moveable assets used for purposes of a taxpayer’s trade. Most […]
June 22, 2018

THE DEDUCTIBILITY OF GENERAL BUSINESS EXPENSES REVIEWED

The recent Cape Town Tax Court judgment of S G Taxpayer v The Commissioner for the South African Revenue Service[1], delivered on 9 May 2018, re-affirmed […]
June 22, 2018

HOW THE VAT INCREASE AFFECTS YOUR BUSINESS

Consumers and suppliers have by now had an opportunity to familiarise themselves with the increased Value-Added Tax (VAT) rate of 15% since 1 April 2018. There […]
May 24, 2018

UNDER WHAT CIRCUMSTANCES CAN A PRIVATE COMPANY AND/OR CLOSE CORPORATION BE DEREGISTERED?

During the registration of a company or close corporation that entity acquires a legal personality. This legal personality comes to an end when the directors and/or […]
May 24, 2018

EMPLOYEES’ TAX RECONCILIATION 2018

April to May each year is the time that employers are given to perform their employees’ tax reconciliation. During this Employer Reconciliation process, employers are required […]
May 24, 2018

CHANGES TO INCOME TAX RETURNS FOR TRUSTS

The South African Revenue Service (“SARS”) implemented several changes to the income tax returns for trusts (the ITR12T) on 26 February 2018. These changes apply in […]
May 24, 2018

CRYPTOCURRENCY

Cryptocurrency and blockchain has been the hot topic in the media the past year.  It is a concept that few truly understand, and could change the […]
April 13, 2018

THE VAT INCREASE AND REAL ESTATE SALES

On 21 February 2018, former Finance Minister, Malusi Gigaba announced National Treasury’s decision to increase the VAT rate from 14% to 15%, with effect from 1 […]
April 13, 2018

FRINGE BENEFITS PROVIDED TO EMPLOYEES

The Seventh Schedule to the Income Tax Act[1] lists various benefits that employers may grant to employees which will attract income tax for the employee,[2] and […]
April 13, 2018

WHY IT IS IMPORTANT TO KNOW THE VALUE OF YOUR BUSINESS

A properly considered business valuation can be the first step in many essential business processes and activities. Although there are many examples, these might include procurement […]
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