May 11, 2021

Tax neutral liquidation distributions

The Income Tax Act contains various provisions in terms of which transactions can occur between specified parties without adverse tax consequences being incurred in respect of those transactions. These provisions […]
May 11, 2021

Can losses be distributed out of a trust?

On 18 March 2021, the Supreme Court of Appeal delivered judgment in the case of Massmart Holdings Limited v The Commissioner for the South African Revenue Service. The case dealt with […]
February 9, 2021

The tax legislative amendment cycle

As we approach the (expected) 24 February 2021 Budget Address by Finance Minister, Tito Mboweni, it is useful to consider how the proposed tax amendments raised during the Budget Speech eventually […]
February 9, 2021

2021 Budget expectations

On 24 February 2021, Finance Minister Tito Mboweni will deliver the annual budget address shortly on the heels of the State of the Nation Address a week earlier by […]
April 21, 2020

Death and (Capital Gains) Taxes

Section 9HA of the Income Tax Act deals with deemed disposals by a deceased person. This section of the Act often causes some confusion, especially where there are heirs or legatees other […]
April 4, 2018

SARS TO INTENSIFY ACTION AGAINST TAX OFFENDERS

Despite the fact that SARS has upheld their philosophy of education, service, and thereafter enforcement, they have noticed an increase in taxpayers not submitting their tax […]
January 10, 2017

ZERO RATED VAT: EXPORTS AND SERVICES TO FOREIGNERS

It is often confusing to determine when to charge Value Added Tax (VAT) on goods or services at zero rate (0%) instead of the standard rate […]
December 8, 2016

USUFRUCT AND CAPITAL GAINS TAX

What is a usufruct? “A usufruct provides to the usufructuary a right of use of property or assets, lifelong or for a specific period, but the […]
September 21, 2016

WILL SARS ALLOW YOU TO DEDUCT YOUR COMPANY/CLOSE CORPORATION’S ASSESSED LOSS?

Under normal circumstances SARS will allow a taxpayer to carry forward the previous tax year’s assessed loss and set it off against the current tax year’s […]
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