Marc Derfoldy – Page 4

October 19, 2021October 19, 2021 Marc DerfoldyIncome Tax Act, Tax Administration Act

TAXATION OF THE RECEIPT OF DEPOSITS

Relevant Acts Tax Administration Act 28 of 2011; Income Tax Act 58 of 1962; and SARS published Interpretation Note 177 in May 2021 providing guidance on the words “received by” […]

October 12, 2021October 12, 2021 Marc DerfoldyCompanies Act, Corporate Tax, Income Tax Act, Tax Administration Act

Being Audited or Selected for Verification by SARS

In this article, we discuss the difference between a verification and an audit? Being selected for an audit and being selected for verification are two different processes. Verification is a […]

October 6, 2021October 6, 2021 Marc DerfoldyCapital Gains Tax, Carbon Tax, Corporate Tax, Income Tax Act, P.A.Y.E, Personal Income Tax, Tax Administration Act

Deferral of payment arrangements with SARS

Relevant Acts and documents Income Tax ActSARS Deferral of Payment Arrangements Guide on eFiling Acronyms relevant to this Guide and process: CIT Corporate Income TaxDWT Dividends Withholding TaxMCP My Compliance […]

September 28, 2021September 28, 2021 Marc DerfoldyCompanies Act, Corporate Tax, Income Tax Act

Tax treatment of customer loyalty programmes

Reference Acts Income Tax Act no. 58 of 1962Value-Added Tax Act no. 89 of 1991 Sections 1(1) – definition of “gross income”, 11(a), 23(g) and 23h of the Income Tax […]

September 20, 2021September 20, 2021 Marc DerfoldyCapital Gains Tax, Income Tax Act, Investments, Pension Funds, Tax Administration Act

Inheritance tax explained

Reference guides, standards and legislation SARS Accounting Guideline GRAP 23 – Revenue From Non-exchange TransactionsAccounting Standards Board – Standard of Generally Recognised Accounting Practice – Revenue From Non-exchange Transactions (taxes […]

September 14, 2021September 14, 2021 Marc DerfoldyLabour Relations, Terminology

Moonlighting – employers and employees

Moonlighting is when a person earns extra money outside of working hours. Can the employee do moonlighting?Do employees have the right to have an additional job?Can the employer dismiss the […]

September 7, 2021September 7, 2021 Marc DerfoldyCompanies Act, Corporate Tax, Tax Administration Act

Tax treatment of doubtful debts and debt write-off

Relevant Legislation and Standards Income Tax ActIFRS 9 (for financial reporting purposes) Section 11(j) of the Income Tax Act 58 of 1962 (the Act), as amended, provides for an allowance […]

August 24, 2021August 24, 2021 Marc DerfoldyCapital Gains Tax, Companies Act, Corporate Tax

Tax implications arising from the conversion of par value shares to no par value shares

Reference documents and/or legislation Income Tax Act no. 58 of 1962, as amendedSecurities Transfer Tax Act no. 25 of 2007Companies Act No. 71 of 2008, as amended The reader is […]

August 19, 2021August 19, 2021 Marc DerfoldyCompanies Act, Income Tax Act, Non-profit organisation

Things to know about Section 18A donations

In this article we list the basics of what you should know for Section 18A donations and the relevant laws. The reader is advised to also read our other articles […]

August 5, 2021August 5, 2021 Marc DerfoldyCompanies Act, Corporate Tax, Labour Relations, Tax Administration Act

Employment tax incentives – students and the definition of employees

Reference documents and Acts Employment Tax Incentive ActBinding Private Ruling: BPR 367 from SARSIncome Tax Act The Employment Tax Incentive (ETI) was introduced in 2014 to encourage the employment of […]

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