Reference documents from www.sars.gov.za (latest news sub-section) Rates and Monetary Amounts and Amendment of Revenue Laws Act, 2020, (Act No. 22 of 2020)Taxation Laws Amendment Act, 2020 (Act No 23 […]
Investments
The Financial Sector Conduct Authority’s proposal to make crypto assets a financial product
Reference documents: Press Release – Draft Declaration of Crypto Assets as a Financial Product by the FSCA, dated 20 November 2020Statement in support of the Draft Declaration of Crypto Assets […]
Dividends tax: proposed amendments to the taxation of manufactured dividends
Reference documents available on the SARS website; www.sars.gov.za: Income Tax Act of 1962 as amended 2020 draft Taxation Laws Amendment Bill (“DTLAB”) was released on 31 July 2020 Draft Response […]
Government Employees Pension Fund and Child Pension
WHO IS GEPF? The Government Employees Pension Fund (GEPF) is Africa’s largest pension fund with more than 1.2 million active members, in excess of 450 000 pensioners and beneficiaries, and […]
Defining “Goodwill” and it’s tax treatment
Studies on goodwill have dated as far back as the late 1800’s and have remained a topic of argument and debate to present day. Goodwill in accounting is an intangible […]
SECURITIES TRANSFER TAX
This articles discusses the basics of Securities Transfer Tax. Relevant Legislation: Securities Transfer Tax Act No. 25 of 2007Securities Transfer Tax Administration Act No. 26 of 2007Income Tax Act No. […]
Capital Gains Tax for Companies – part 3
In this article we will continue discussing the basics of Capital Gains Tax with an emphasis on calculations and information regarding gains or losses. Recall from article “part 2” the […]
Different types of shares; ordinary versus preference shares
The Companies Act 71 of 2008 (“the Act”) provides for the authorisation and issue of various classes of shares by a company. Although shares can hold many different descriptions, shares […]
Capital Gains Tax for Companies – part 1
In this article we will discuss the basics of Capital Gains Tax and in subsequent articles provide examples of capital gains tax for businesses. Capital gains tax (CGT) was introduced […]
Financial fallout from the COVID-19 pandemic
Prior to the World Health Organisation declaring COVID-19 a pandemic South Africa’s economy had already contracted in the last two quarters of 2019. Arising from the subsequent lockdown in South […]