July 16, 2018

DEBT REDUCTION RULES: NEW TAXPAYER FRIENDLY AMENDMENTS EXPECTED

The South African Income Tax Act contains a number of rules which give rise to onerous tax consequences where a taxpayer’s debts owing is forgiven. These […]
July 16, 2018

TAX DEDUCTIONS AGAINST SALARY EARNINGS

Our clients who earn only a salary will know that very few tax deductions are available against salary income for income tax purposes and whereby they […]
July 16, 2018

CUSTOMS FOR INDIVIDUALS TRAVELLING ABROAD AND RETURNING TO SA

The South African Revenue Service (SARS) recently published a media release to clarify the confusion about the customs requirements for South African travellers returning from abroad […]
June 22, 2018

IS IT POSSIBLE TO BACKDATE AN AGREEMENT?

A popular question which comes up during a consultation with a client when the drafting of commercial documents is discussed is, “what is the effective date […]
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 […]