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 […]
The Carbon Tax Act Number 15 of 2019 published in Gazette #42483 dated 23 May 2019 took effect on 01 June 2019. The Act may be downloaded here. South Africa […]
In October 2018, SARS issued a binding private ruling determining the deductibility of expenditure to be incurred to install photovoltaic solar energy plants at sites owned and leased by the […]
In South Africa, Trusts can be classified as follows: An “ownership trust”, under which the founder or settlor transfers ownership of assets or property to a trustee(s) to be held […]
The Employment Tax Incentive was introduced by the Employment Tax Incentive Act 26 of 2013 which was promulgated on 18 December 2013. This Act has since been amended on a […]
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 […]
SARS published a new guide on 25 January 2019 stating that, as from 25 January 2019, individual taxpayers that are voluntarily or mandatorily sequestrated must submit income tax returns in […]
Business owners, Shareholders, Directors, Financial Directors, Financial Managers and Accountants should keep the following in mind as per Section 25 of the Tax Administration Act. Company Income tax returns must […]
