Relevant Act: Tax Administration ActGovernment Notice 787 of 01 October 2012; Gazette 35733Electronic Communications and Transactions ActCompanies Act A person must keep records, books of account, or documents. The retention […]
Companies Act
Deregistration of Tax Types – part 1 of 2
This article (1 of 2) outlines the relevant procedures to be followed when a taxpayer applies for deregistration of a tax type. One does not suddenly and simply “deregister”. Extensive […]
Section 11D of the Income Tax Act – Research & Development (R&D) tax incentive’s proposed amendments
The Government is proposing to extend the Research & Development (R&D) tax incentive beyond 31 December 2023 – likely for a period of 10 years following a consultation process with […]
Tax Avoidance and Income Tax Act
Section 80A(c)(ii) of the Income Tax Act 58 of 1962, as amended, introduced a new concept to the South African income tax environment: misuse or abuse of the provisions of […]
Employee Allowances for the 2023 Tax Year
SARS updated their Employers Guide for Tax Allowances related to Subsistence Allowance, Travelling Allowances and Public Office Holder Allowances in line with the budget presented in February 2022. SUBSISTENCE ALLOWANCE […]
Construction Industry Development Board (CIDB)
Construction Industry Development Board (CIDB) Construction plays a vital role in South Africa’s economic and social development. It provides the physical infrastructure and backbone for economic activity. It is also […]
Mining rehabilitation of a Company or Trust: Deductibility of amounts paid and compliance with Section 37A of the Income Tax Act – part 1 of 2
SARS published a Guidance Note in March 2022 discussing matters of compliance with Section 37A and mining rehabilitation. This SARS Note provides guidance on the interpretation and application of section […]
Turnover Tax
Turnover tax is a simplified system aimed at making it easier for micro business to meet their tax obligations. The turnover tax system replaces Income Tax, VAT, Provisional Tax, Capital […]
Tax returns and the 3-year limitation period of the Tax Administration Act
Legislation:Income Tax Act – ITATax Administration Act (Section 99) – TAA Before the TAA came in to use, the Income Tax Act provided that SARS could only issue an additional […]
Export incentives – part 2
This is a follow-up article; please read part 1 too. A recap of the definition and applicable websites are given below: Export incentives are intended to encourage exports by providing […]