Trusts

April 28, 2023 Robyn van der MerweMining, Mining, SARS

DEDUCTIBILITY OF MINING REHABILITATION INSURANCE PREMIUMS

INCOME TAX ACT 58 OF 1962, SECTIONS 8(4)(a), 11(a), 23(c), 23(g), 23H AND 23LSARS BINDING CLASS RULING: BCR 082 of October 2022 This SARS ruling determines the deductibility of insurance […]

January 17, 2023January 17, 2023 Robyn van der MerweSARS, Trusts, Uncategorized

Hybrid Equity Interest on Third-Party Shares

Source: BINDING CLASS RULING: BCR 081 dated 08 September 2022 from SARS ACT : INCOME TAX ACT 58 OF 1962, SECTIONS 8E AND 8EA This ruling determines whether a participatory […]

May 17, 2022May 17, 2022 fincorBudgets, Companies Act, Mining, Mining, Tax Administration Act, Trusts

Mining rehabilitation of a Company or Trust: Deductibility of amounts paid and compliance with Section 37A of the Income Tax Act – part 1 of 2

SARS published a Guidance Note in March 2022 discussing matters of compliance with Section 37A and mining rehabilitation. This SARS Note provides guidance on the interpretation and application of section […]

February 18, 2021February 18, 2021 Marc DerfoldyCapital Gains Tax, Income Tax Act, Pension Funds, Personal Income Tax, Provident Funds, Tax Administration Act, Trusts

Tax and retirement

Reference sites, guides and legislation: www.sars.gov.zaGuide on the calculation of the tax payable on lump sum benefitsRates and Monetary Amounts and Amendment of Revenue Laws ActIncome Tax ActTax Administration Laws […]

August 27, 2020August 27, 2020 Marc DerfoldyCapital Gains Tax, Investments, Pension Funds, Personal Income Tax, Trusts

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 […]

August 6, 2020August 6, 2020 Marc DerfoldyCapital Gains Tax, Companies Act, Corporate Tax, Income Tax Act, Retirement, Trusts

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. […]

July 16, 2020July 16, 2020 Marc DerfoldyCapital Gains Tax, Corporate Tax, Employment Tax Incentive, Income Tax Act, P.A.Y.E, Pension Funds, Personal Income Tax, Provident Funds, Retirement, Trusts, Value Added Tax

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 […]

March 6, 2020March 6, 2020 Marc DerfoldyBudgets, Terminology, Trusts

The 2020 Budget, tax matters, SAA, Eskom and a lower government employee wage bill

Earlier in February 2020 there appeared to be widespread panic around the upcoming 2020 Budget to be presented by Minister Mboweni. The concerns were that a significant increase in tax-related […]

September 16, 2019September 16, 2019 fincorCapital Gains Tax, Carbon Tax, Companies Act, Corporate Tax, Employment Tax Incentive, Income Tax Act, Non-profit organisation, P.A.Y.E, Pension Funds, Personal Income Tax, Provident Funds, Retirement, Tax Administration Act, Trusts, Value Added Tax

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 […]

May 21, 2019May 21, 2019 fincorCorporate Tax, Income Tax Act, Personal Income Tax, 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 […]

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