A sole proprietorship is a business that is owned and operated by a natural person (individual). This is the simplest form of business entity. The sole proprietorship is not a […]
Capital Gains Tax
Tax Guide for Share Owners
This article (number one of a series of articles) summarises some of the key aspects holders of shares need to be aware of in computing their liability for income tax […]
Transparency and Beneficial Ownership – Legal Entities and Legal Arrangements
Filing of Beneficial Ownership information is required by the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act 22 of 2022. The Act amended the Companies Act and gave […]
Contributed Tax Capital and Preference Shares
The concept of contributed tax capital (CTC) was introduced into the Income Tax Act, No 58 of 1962 (Act) with effect from 1 January 2011. The relevance of the concept […]
Contributed Tax Capital and Preference Shares
The concept of contributed tax capital (CTC) was introduced into the Income Tax Act, No 58 of 1962 (Act) with effect from 1 January 2011. The relevance of the concept […]
Withholding Tax on Royalties (WTR)
Documents referred to in this article: WTR01 – return form Withholding Tax on Royalties Declaration (WTRD) Withholding-Tax-on-Royalties-Summary-of-DTA-Rates-Africa Withholding-Tax-on-Royalties-Summary-of-DTA-Rates-Rest-of-the-World This article summarizes the detail of the Withholding Tax on Royalties. The […]
The SARS Voluntary Disclosure Programme (VDP)
VOLUNTARY DISCLOSURE RELIEF SARS allows taxpayers to avoid criminal prosecution and regularise their tax affairs by making a disclosure under the VDP. A successful VDP application allows for an applicant […]
Assessed losses under the Income Tax Act
Section 20(2) of the Income Tax Act defines an “assessed loss” as “any amount by which the deductions admissible under section 11 exceeds the income in respect of which they […]
Tax Deductions (PAYE) on your Pension or Annuity
The following info is based on commentary from SARS dated 19 January 2022. Where a pensioner has ONE source of income during a tax year, the SARS employees’ tax (PAYE) […]
Tax Free Investments
Tax Free Investments (TFIs) were introduced as an incentive to encourage household savings. This incentive became available from 1 March 2015. Your money can grow faster in a tax-free savings […]