Legislation and Rules administered by SARS for the purposes of the Carbon Tax Act: Customs and Excise Act No. 91 of 1964: Sections 20(4), 27, 54A – F, 87, 88, […]
Marc Derfoldy
Home Office expenses, deductions and tax
Reference Acts: Income Tax Act, Sections 11 and 23 This article deals with home office usage for business purposes and the associated tax implications. It has become very common for […]
Debt reduction provisions of the Income Tax Act and Taxation Laws Amendment Act
Reference Acts Income Tax actTaxation Laws Amendment Act (TLAB) In this article, we briefly discuss the debt reduction provisions of the Income Tax Act and Taxation Laws Amendment Act. Section […]
Fringe benefits and tax
Reference documents Income Tax ActIncome Tax Act Schedule 7Tax Administration Act What is a fringe benefit? Fringe benefits usually refer to non-cash benefits granted to employees, but do not constitute […]
Interest-free shareholder loans, interest-bearing loans and loans to Trusts
Reference Acts Income Tax ActSchedule 7 of the Income Tax ActSection 24J of the Income Tax ActSection 19 of the Income Tax ActSection 7C of the Income Tax ActTax Administration […]
Physical Impairment or Disability Expenditure
Reference Acts and DocumentsSection 6B(1) of the Income Tax Act 58 of 1962 In this article we look at a recent document published in May 2021 by SARS for public […]
Cryptocurrencies and tax
Relevant Acts Taxation Laws Amendment BillIncome Tax Act Do you mine cryptocurrencies and/or trade in them? If so, there are tax implications to consider. SARS is investing in its IT […]
Small businesses and taxation
Relevant documents and sites: www.sars.gov.zawww.cipc.org.zaIncome Tax ActVAT Tax Act Other terminology of importance Income Tax, VAT, Provisional Tax, Capital Gains Tax, Dividends Tax, Corporate Income Tax (CIT), Pay-As-You-Earn (PAYE), Turnover […]
Recreational Clubs and tax
This first article of three briefly discusses the essence and responsibilities of forming a recreational club; in articles two and three, the following taxes that may affect organisations approved as […]
Companies and taxation in South Africa
Reference documents and sites: The Companies Act, No. 71 of 2008Income Tax Act, No. 58 of 1962Value Added Tax Act, No. 89 of 1991http://www.cipc.co.za/za/ In this follow up article, we […]