When taxpayers are aggrieved by an assessment or not satisfied with a decision taken by SARS, and if the decision is subject to objection and appeal, they have a right […]
Income Tax
TAX RETURNS TO BE SUBMITTED BY A PERSON IN TERMS OF SECTION 25 OF THE TAX ADMINISTRATION ACT
It’s that time of the year again when we need to prepare our annual tax return for SARS to process. The details of who must do so is defined in […]
Tax Exemption Guide for Recreational Clubs – Issue 5 (2025)
This article extracts some basic information from the updated SARS Guide – Issue 5, not covered in a previous article published in 2021 on www.fincor.co.za named “Recreational Clubs and Taxation”. […]
Income tax return for Trusts—part 2
Source: SARS’ Comprehensive Guide to the Income Tax Return for Trusts—External Guide, Revision 22, effective 12 December 2024 The date for the Trusts filing season was 16 September 2024 to […]
Income tax return for Trusts – part 1
Source: SARS’ Comprehensive Guide to the Income Tax Return for Trusts—External Guide, Revision 22, effective 12 December 2024 The date for Trusts filing season is 16 September 2024 to 20 […]
Tax consequences of impermissible tax avoidance
Legislation: Income Tax Act, Sections 80 and 103 Tax avoidance is a complex concept that creates uncertainty in the South African tax law system and results in revenue loss. Tax […]
Wear-and-tear or Depreciation Allowance
This article (part 2) discusses the basics of policies on determining the allowance’s amount and methods for determining it. It refers to an Annexure; this is merely a list of […]
Application of proviso to Section 8EA(3) of the Income Tax Act
Section 8EA of the Income Tax Act, No 58 of 1962 (Act) constitutes an anti-avoidance provision which, if applicable, has the effect that the amount of any dividend or foreign […]
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 […]