It’s not often that SARS offers tax relief but when it is presented as an option it should be used without delay. Within Section 13 of the Income Tax Act […]
Capital Gains Tax
SARS’ Official Functions
Have you ever wondered what SARS’ official functions may be in terms of legislation? Collection of Income Tax is merely one aspect everyone is aware of. SARS is the only […]
Goodwill – Capital Gains Tax and Accounting
This article discusses the basics of “Goodwill” from an accounting perspective. Relevant Legislation: Income Tax Act 58 of 1962 (as amended) Taxation Laws Amendment act 5 of 2001 (and various […]
SARS and Tax Assessment Prescriptions
Section 99 of the Tax Administration Act regulates the prescription of tax periods. The most important circumstances in which SARS is barred from raising further assessments in relation to a […]
Tax filing season starts on 01 July
Filing season for taxpayers who have been making use of e-Filing will start on 01 July or 01 August 2019 depending on your tax classification. Non-provisional taxpayers who use e-Filing […]
Capital Gains Tax
Capital Gains Tax (CGT) was introduced in South Africa with effect from 1 October 2001 (referred to as the “valuation date”) and applies to the disposal of an asset on […]