South Africa has strict foreign exchange controls that allow the South African Reserve Bank to keep track of the outflow and inflow of capital in South Africa. Taxpayers over the […]
Investments
Venture Capital Companies
What are Venture Capital Companies? One of the main challenges to the growth of small and medium-sized businesses and junior mining exploration is access to equity finance. To assist these […]
The SARS Voluntary Disclosure Programme (VDP)
VOLUNTARY DISCLOSURE RELIEF SARS allows taxpayers to avoid criminal prosecution and regularise their tax affairs by making a disclosure under the VDP. A successful VDP application allows for an applicant […]
Assessed losses under the Income Tax Act
Section 20(2) of the Income Tax Act defines an “assessed loss” as “any amount by which the deductions admissible under section 11 exceeds the income in respect of which they […]
Turnover Tax
Turnover tax is a simplified system aimed at making it easier for micro business to meet their tax obligations. The turnover tax system replaces Income Tax, VAT, Provisional Tax, Capital […]
Deduction for Photovoltaic Solar Energy Plants
Reference Acts Income Tax Act, as amended Tired of high electricity costs and the dreaded load shedding disaster affecting your business? It’s time to consider use of solar power solutions […]
Tax Free Investments
Tax Free Investments (TFIs) were introduced as an incentive to encourage household savings. This incentive became available from 1 March 2015. Your money can grow faster in a tax-free savings […]
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 […]
Non-profit organisation-related law and benefits in South Africa – article 2 of 2
In this second NPO-related article, we continue discussing some legal aspects of non-profit organisations and the benefits thereof. Please refer to article 1 of 2 as well. Applicable Laws • […]
Conduct of Financial Institutions Bill – second draft available and the effect on Pension/Retirement Funds
Following on the Financial Sector Regulation Act, 2017 (“FSR Act“), the Conduct of Financial Institutions Bill (“COFI“) was published by the Minister of Finance in December 2018 for public comment […]