This article follows on from a previously published article of January 2020 with newly published info from SARS Carbon Tax Act Roadshow of August 2020. This article focuses on the fact that the Carbon Tax Annual Return is due as from 01 October 2020 for the 2019 tax period and…

This article is number two of two in this NPO series and provides further insight in to non-profit organisations and the legal framework around them. Section 21 companies: what is a Section 21 company? Section 21 of the original Companies Act 61 of 1973 (followed by the new Companies Act…

This article provides an insight in to non-profit organisations and the legal framework around them and is split in to two articles. Firstly, one should understand the similarities between non-profit (NPO) and for-profit organisations. Both NPO’s and for-profit organisations are private, non-government organisations with self governing boards accountable to their…

In this article we will continue discussing the basics of Capital Gains Tax with an emphasis on calculations and information regarding gains or losses. Recall from article "part 2" the following formula for Time-apportionment base cost method The time-apportionment base cost method may be used when a company has a…

The Companies Act 71 of 2008 (“the Act”) provides for the authorisation and issue of various classes of shares by a company. Although shares can hold many different descriptions, shares can be basically divided into two categories, namely ordinary shares and preference shares. Various different rights and obligations are attached…

In this article we will continue discussing the basics of Capital Gains Tax with an emphasis on the methods of cost base valuation. Refer to part 1 for introductory information. The CGT provisions are mostly contained in the Eighth Schedule to the Income Tax Act 58 of 1962 (the Act),…

In this article we will discuss the basics of Capital Gains Tax and in subsequent articles provide examples of capital gains tax for businesses. Capital gains tax (CGT) was introduced in South Africa with effect from 1 October 2001 and applies to the disposal of an asset on or after…

Gazette Number 43495 dated 03 July 2020 was published by the Commissioner of the South African Revenue Service (SARS) and is an update to the requirements for submitting / not-submitting tax returns for the 2020 year of assessment. Firstly, let's deal with the requirements when a return is NOT essential.…

This article follows on from part 1 published on 22 June 2020. Capital Gains Tax is a complex matter to understand and more so when it is applied to Public Benefit Organisations. The information relevant to this matter is extensive and will be dealt with in more than one article…

Capital Gains Tax is a complex matter to understand and more so when it is applied to Public Benefit Organisations. The information relevant to this matter is extensive and will be dealt with in more than one article with respect to disposal of an asset by a PBO in paragraph…