SARS issued a Binding General Ruling (#58) on 04 November 2021 regarding the purchase of different types of annuities at retirement. The purpose of this BGR is to confirm that, […]
Retirement
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 […]
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 2
In this article we will continue discussing the basics of Capital Gains Tax with an emphasis on the methods of cost base valuation. Refer to part 1 for introductory information. […]
RETURNS TO BE SUBMITTED BY A PERSON IN TERMS OF SECTION 25 OF THE TAX ADMINISTRATION ACT, 2011 (ACT NO. 28 OF 2011)
Gazette Number 43495 dated 03 July 2020 was published by the Commissioner of the South African Revenue Service (SARS) and is an update to the requirements for submitting / not-submitting […]
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 […]
TAX ON INHERITANCE, DONATIONS AND A DECEASED ESTATE
In 2018 the Estate Duty rate increased from 20% to 25% on dutiable amount of estates of more than R30 million. When a person dies, the deceased person and all […]
SARS’ Official Functions
Have you ever wondered what SARS’ official functions may be in terms of legislation? Collection of Income Tax is merely one aspect everyone is aware of. SARS is the only […]
Tax filing season starts on 01 July
Filing season for taxpayers who have been making use of e-Filing will start on 01 July or 01 August 2019 depending on your tax classification. Non-provisional taxpayers who use e-Filing […]