Income Tax Act

October 19, 2021October 19, 2021 Marc DerfoldyIncome Tax Act, Tax Administration Act

TAXATION OF THE RECEIPT OF DEPOSITS

Relevant Acts Tax Administration Act 28 of 2011; Income Tax Act 58 of 1962; and SARS published Interpretation Note 177 in May 2021 providing guidance on the words “received by” […]

October 12, 2021October 12, 2021 Marc DerfoldyCompanies Act, Corporate Tax, Income Tax Act, Tax Administration Act

Being Audited or Selected for Verification by SARS

In this article, we discuss the difference between a verification and an audit? Being selected for an audit and being selected for verification are two different processes. Verification is a […]

October 6, 2021October 6, 2021 Marc DerfoldyCapital Gains Tax, Carbon Tax, Corporate Tax, Income Tax Act, P.A.Y.E, Personal Income Tax, Tax Administration Act

Deferral of payment arrangements with SARS

Relevant Acts and documents Income Tax ActSARS Deferral of Payment Arrangements Guide on eFiling Acronyms relevant to this Guide and process: CIT Corporate Income TaxDWT Dividends Withholding TaxMCP My Compliance […]

September 28, 2021September 28, 2021 Marc DerfoldyCompanies Act, Corporate Tax, Income Tax Act

Tax treatment of customer loyalty programmes

Reference Acts Income Tax Act no. 58 of 1962Value-Added Tax Act no. 89 of 1991 Sections 1(1) – definition of “gross income”, 11(a), 23(g) and 23h of the Income Tax […]

September 20, 2021September 20, 2021 Marc DerfoldyCapital Gains Tax, Income Tax Act, Investments, Pension Funds, Tax Administration Act

Inheritance tax explained

Reference guides, standards and legislation SARS Accounting Guideline GRAP 23 – Revenue From Non-exchange TransactionsAccounting Standards Board – Standard of Generally Recognised Accounting Practice – Revenue From Non-exchange Transactions (taxes […]

August 19, 2021August 19, 2021 Marc DerfoldyCompanies Act, Income Tax Act, Non-profit organisation

Things to know about Section 18A donations

In this article we list the basics of what you should know for Section 18A donations and the relevant laws. The reader is advised to also read our other articles […]

July 15, 2021July 15, 2021 Marc DerfoldyCapital Gains Tax, Companies Act, Corporate Tax, Income Tax Act, P.A.Y.E, Personal Income Tax, Tax Administration Act

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 […]

July 1, 2021July 1, 2021 Marc DerfoldyCompanies Act, Income Tax Act, P.A.Y.E, Tax Administration Act

Fringe benefits and tax

Reference documents Income Tax ActIncome Tax Act Schedule 7Tax Administration Act What is a fringe benefit? Fringe benefits usually refer to non-cash benefits granted to employees, but do not constitute […]

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 […]

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