January 8, 2020

Technology makes the financial world go around

Accounting has moved from pen and paper to the cloud, monthly payments can be done through online banking apps, and big purchases like houses and other property can be […]
January 8, 2020

Deductible or not deductible?

On 15 November 2019, the Cape Town Tax Court handed down judgement in ITC24614. It is yet another judgement concerned with the distinction between expenses of […]
November 15, 2019

Farming operations: Tax implications

Farming in South Africa is like second nature to most South Africans, but the tax implications on farming operations seem to raise some questions when determining […]
November 15, 2019

Usufructs and tax consequences

A usufruct is a limited real right in property. The usufruct construct takes the form of a common-law personal servitude, which, as a limited real right, […]
November 15, 2019

Employee trust 101

Binding Private Ruling 330 (“BPR330”) was issued on 3 October 2019 and relates to the tax implications arising from distributions of dividends and other amounts from […]
October 15, 2019

How Transfer Duty is calculated

Section 2(1) of the Transfer Duty Act[1] imposes transfer duty on the value of any property acquired by any person by way of a transaction, or […]
October 15, 2019

Additional tax considerations

The distinction between amounts received of a capital nature as opposed to a revenue (or income) nature is essential for income tax purposes. Non-capital amounts received, […]
October 15, 2019

Leasehold responsibilities

Certain lease agreements regarding land and property stipulate that the lessee, as part of his/her obligation under the agreement, is expected to make improvements to the […]
October 15, 2019

How to purchase without profit

In a recent Binding Private Ruling 324 (“BPR 324”)[1], the South African Revenue Service (“SARS”) determined the tax implications arising from the acquisition of listed Black […]
September 19, 2019

GETTING YOUR PUBLIC BENEFIT DUCKS IN A ROW

Non-profit organisations can apply for approval as a “public benefit organisation” (“PBO”) in terms of section 30(3) of the Income Tax Act[1] in order to qualify for tax exemption under […]