In this second NPO-related article, we continue discussing some legal aspects of non-profit organisations and the benefits thereof. Please refer to article 1 of 2 as well. Applicable Laws • […]
Companies Act
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 refunds from SARS
Reference documents and sites www.sars.gov.zaITR12 – annual tax return submitted by the taxpayerITA 34 – SARS notification to the tax payer via e-Filing and emailIncome Tax ActTax Administration Act In […]
Wilful conduct (misconduct) for tax related offences – proposed amendments as per 2020 Draft Taxation Laws Amendment Bill (Draft TLAB) and the 2020 Draft Tax Administration Laws Amendment Bill (Draft TALAB)
Reference documents: Income Tax Act, 1962, as amended, paragraph 30 of Fourth ScheduleTax Administration Act, 2011, section 234(p)Section 58 of the Value Added Tax Act, 1991 The days of using […]
Dividends tax: proposed amendments to the taxation of manufactured dividends
Reference documents available on the SARS website; www.sars.gov.za: Income Tax Act of 1962 as amended 2020 draft Taxation Laws Amendment Bill (“DTLAB”) was released on 31 July 2020 Draft Response […]
Bargaining Councils, what are they?
South Africa currently has over 40 bargaining councils operating nationwide. What exactly is a bargaining council? A bargaining council is a body that is established by one or more employers’ […]
Defining “Goodwill” and it’s tax treatment
Studies on goodwill have dated as far back as the late 1800’s and have remained a topic of argument and debate to present day. Goodwill in accounting is an intangible […]
SECURITIES TRANSFER TAX
This articles discusses the basics of Securities Transfer Tax. Relevant Legislation: Securities Transfer Tax Act No. 25 of 2007Securities Transfer Tax Administration Act No. 26 of 2007Income Tax Act No. […]
IFRS and IFRS 3 – Business Combinations
IFRS is short for International Financial Reporting Standards. IFRS originated in the European Union, with the intention of making business affairs and accounts accessible across the continent. IFRS is the […]
Sections 225 and 360 of the NOCLAR provisions – Obligations for Professional Accountants
This article is a follow-on from a previous NOCLAR article published on 21 September 2020. A professional accountant (PA) in public practice may come across or be made aware of […]