Corporate Tax – Fincor

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 […]

July 13, 2021July 13, 2021 Marc DerfoldyCompanies Act, Corporate Tax, Income Tax Act

Debt reduction provisions of the Income Tax Act and Taxation Laws Amendment Act

Reference Acts Income Tax actTaxation Laws Amendment Act (TLAB) In this article, we briefly discuss the debt reduction provisions of the Income Tax Act and Taxation Laws Amendment Act. Section […]

June 29, 2021June 29, 2021 Marc DerfoldyCapital Gains Tax, Companies Act, Corporate Tax

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 […]

June 22, 2021 Marc DerfoldyCompanies Act, Corporate Tax, Income Tax Act, Labour Relations

Physical Impairment or Disability Expenditure

Reference Acts and DocumentsSection 6B(1) of the Income Tax Act 58 of 1962 In this article we look at a recent document published in May 2021 by SARS for public […]

May 27, 2021May 27, 2021 Marc DerfoldyCapital Gains Tax, Companies Act, Corporate Tax, Income Tax Act, P.A.Y.E, Personal Income Tax, Tax Administration Act, UIF, Value Added Tax

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 […]

May 18, 2021May 18, 2021 Marc DerfoldyCompanies Act, Corporate Tax, Income Tax Act

Companies and taxation in South Africa

Reference documents and sites: The Companies Act, No. 71 of 2008Income Tax Act, No. 58 of 1962Value Added Tax Act, No. 89 of 1991http://www.cipc.co.za/za/ In this follow up article, we […]

April 14, 2021April 14, 2021 Marc DerfoldyBudgets, Corporate Tax, Income Tax Act, Non-profit organisation

Donations Tax

Reference Acts and documents Income Tax Act, as amendedForm IT144 – Declaration by donor / doneeTax Administration Laws Amendment Act 24 of 2020 (TALA, 2020) In this article, we briefly […]

March 25, 2021March 25, 2021 Marc DerfoldyCorporate Tax, Tax Administration Act, Value Added Tax

Notional VAT

Reference Acts and Documents Value-Added Tax ActSARS VAT Tax Form 264SARS Binding General Ruling (VAT)43 (BGR43)SARS Interpretation No. 49 – Notional VAT and second-hand property What is Notional VAT? Subject […]

March 11, 2021 Marc DerfoldyCompanies Act, Corporate Tax, Employment Tax Incentive, Income Tax Act, Labour Relations, P.A.Y.E, Personal Income Tax, Tax Administration Act

Earnings thresholds, Income Tax thresholds and Minimum Wage updates

Reference documents Basic Conditions of Employment Act, as amendedIncome Tax Act, as amendedNational Budget Speech, February 2021National Minimum Wage Act, as amended This article gives a brief overview of salary […]

January 14, 2021January 14, 2021 Marc DerfoldyCapital Gains Tax, Carbon Tax, Companies Act, Corporate Tax, Income Tax Act, P.A.Y.E, Personal Income Tax, Tax Administration Act

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 […]

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