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 […]
Marc Derfoldy
Capital Gains Tax for Companies – part 2
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. […]
Capital Gains Tax for Companies – part 1
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 […]
RETURNS TO BE SUBMITTED BY A PERSON IN TERMS OF SECTION 25 OF THE TAX ADMINISTRATION ACT, 2011 (ACT NO. 28 OF 2011)
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 […]
Public Benefit Organisations: Capital Gains Tax – part 2
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 […]
Public Benefit Organisations: Capital Gains Tax – part 1
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 […]
Financial fallout from the COVID-19 pandemic
Prior to the World Health Organisation declaring COVID-19 a pandemic South Africa’s economy had already contracted in the last two quarters of 2019. Arising from the subsequent lockdown in South […]
The International Corporate Tax Problem – Base erosion and profit shifting (BEPS)
Corporate tax revenue in the Treasury Department’s 2020/2021 fiscal year budget accounts for 16% of total revenue collection in South Africa. Given that this figure is higher than many other […]
Donations tax implications of subscribing for shares at a discount
Income Tax Act 58 of 1962 sections 55(1) and 58(1) SARS released a private binding ruling (BPR343) in May 2020 explaining the outcome of a request from an applicant as […]
Section 23H of the Income Tax Act, No 58 of 1962 – deductions claimed for prepaid expenditure
Section 23H of the Income Tax Act is one that is often carefully reviewed by SARS for correct application by businesses. This portion of the Income Tax Act, No 58 […]