DRAFT SARS GUIDE ON THE SOLAR ENERGY TAX CREDIT PROVIDED UNDER SECTION 6C – February 2024 Following on from our article “Renewable Energy Incentives” dated 23 November 2023, herewith follows […]
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Transfer Pricing Methods – The Cost Plus Method
Before explaining the Cost Plus Method, a summary of why certain Methods are chosen must be given. Also, please read the previous articles regarding Transfer Pricing principles before reading these […]
Interest deductibility in South Africa
In South Africa, interest is deductible under the Income Tax Act, whether or not the interest is capital in nature, provided the interest is incurred “in the production of income” […]
Commission earnings and taxation
Commission earners who earn more than 50% of their total remuneration as commission income are not limited in the type of business expenses they can claim, as long as these […]
Leasehold improvement allowance and Section 11(h) of the Income Tax Act
Source: Private Binding Ruling BPR 401 of 14 December 2023 This ruling determines the tax consequences for a lessor in respect of improvements effected by a lessee. In this ruling […]
Donations tax implications on the issue of shares at nominal value to enhance B-BBEE credentials
ACT: Income Tax Act 58 and a SARS General Binding Ruling, Number 400. This ruling by SARS determines whether donations tax will be payable on the amendment of a company’s […]
Taxpayers and retention of records as per the Tax Administration and Companies Acts
Relevant Act: Tax Administration ActGovernment Notice 787 of 01 October 2012; Gazette 35733Electronic Communications and Transactions ActCompanies Act A person must keep records, books of account, or documents. The retention […]
Tax Consequences of the Termination of an En Commandite Partnership
Binding Private Ruling 391 ACT: INCOME TAX ACT 58 OF 1962SECTION: PARAGRAPH 1 – DEFINITION OF “ASSET”, “DISPOSAL” and “VALUE SHIFTING ARRANGEMENT”, and PARAGRAPH 11 OF THE EIGHTH SCHEDULE TO […]
Disposal of shares subsequent to a property development arrangement.
Disposal of shares subsequent to a property development arrangement, BINDING PRIVATE RULING 398, November 2023 This ruling describes the tax consequences of the disposal of ordinary shares in a property […]
Section 18A – Audit Certificates, Part 2
ACT: Income Tax Act 58 OF 1962, Section 18A(2B) AND (2C) This is part 2 of 2 in this series of articles. Please read part 1 before reading this second […]