Corporate Tax
SARS and Tax Assessment Prescriptions
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 […]
Carbon Tax
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 […]
Photovoltaic Solar Energy Plants
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 […]
Trusts
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 […]
Employment Tax Incentive
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
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 […]
New filing requirements for insolvent taxpayers
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 […]
Corporate Income Tax Returns
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 […]