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 […]
Capital Gains Tax
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 […]
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 […]
Addressing the Tax Challenge Arising from the Digitalisation of the Economy – OECD and International Tax Legislation
Applicable Legislation and Documents: Income Tax ActOECD’s Inclusive Framework for Base Erosion and Profit Shifting (BEPS)A previous article from Fincor dated 04 June 2020: The International Corporate Tax Problem – […]
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 […]
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 […]
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 […]
Non-profit organisation-related law and benefits in South Africa – article 1 of 2
In this article, we will discuss some legal aspects of non-profit organisations and the benefits thereof. Applicable Laws • Constitution of the Republic of South Africa, Act 108 of 1997 […]
Tax and retirement
Reference sites, guides and legislation: www.sars.gov.zaGuide on the calculation of the tax payable on lump sum benefitsRates and Monetary Amounts and Amendment of Revenue Laws ActIncome Tax ActTax Administration Laws […]