In 2017, the International Ethics Standards Board for Accountants (IESBA) updated the rule that dictates how accountants can respond to a client’s non-compliance with laws and regulations (NOCLAR). For the […]
Companies Act
The similarities and differences between non-profit (NPO) and for-profit organisations and the legal requirements for a NPO
This article is number two of two in this NPO series and provides further insight in to non-profit organisations and the legal framework around them. Section 21 companies: what is […]
Capital Gains Tax for Companies – part 2
In this article we will continue discussing the basics of Capital Gains Tax with an emphasis on the methods of cost base valuation. Refer to part 1 for introductory information. […]
Financial fallout from the COVID-19 pandemic
Prior to the World Health Organisation declaring COVID-19 a pandemic South Africa’s economy had already contracted in the last two quarters of 2019. Arising from the subsequent lockdown in South […]
Donations tax implications of subscribing for shares at a discount
Income Tax Act 58 of 1962 sections 55(1) and 58(1) SARS released a private binding ruling (BPR343) in May 2020 explaining the outcome of a request from an applicant as […]
Section 23H of the Income Tax Act, No 58 of 1962 – deductions claimed for prepaid expenditure
Section 23H of the Income Tax Act is one that is often carefully reviewed by SARS for correct application by businesses. This portion of the Income Tax Act, No 58 […]
Clarifying the interaction between the Employment Tax Incentive and Special Economic Zone provisions
In January 2020 Gazette 42951 related to the Tax Laws Amendment Act, 2019 (also know as TLAB 2019) was published. This gazette covers a number of amendments to the TLAB, […]
Tax-based incentives offered by Government to businesses operating in South Africa(part2)
Covered in part 2 of Tax-based Incentives Industrial policy projectsSpecial Economic Zones (SEZs)Energy efficiency savings incentiveInternational shipping incentiveVenture capital companies Industrial policy projects In 2008, a ZAR 20 billion incentive […]
Tax-based incentives offered by Government to businesses operating in South Africa
Ever wondered what the list of tax-based incentives offered by Government to businesses operating in South Africa may be? Below is a list for your use. The inner workings of […]
WSP & ATR submission
It’s that time of the year again; businesses will soon need to begin compiling their workplace skills plan and annual training report and submit them online. Businesses submit info for […]