February 14, 2020

Intra-group transactions and the subsequent sale of assets

The South African Revenue Service (“SARS”) issued a private binding ruling (BPR329) on 27 September 2019 on the tax implications of intra-group transactions and the subsequent […]
February 14, 2020

How are assets distributed during liquidation?

The South African Revenue Service (“SARS”) issued Binding Private Ruling 336 on 6 December 2019. In terms of this ruling, a listed resident company (“the Company”) […]
January 31, 2019

Ring-fencing of assessed losses of certain trades – Part 2

Section 20A of the Income Tax Act[1]ring-fences losses incurred by natural persons from certain trades under specific circumstances. If applicable, the natural person will not be […]
January 31, 2019

Non-resident sellers of immovable property

Section 35A of the Income Tax Act[1] came into effect on 1 September 2007 and sets out the capital gains tax consequences of the sale of […]
January 15, 2019

Ring-fencing of assessed losses of certain trades – part 1

Persons are generally allowed to set off any losses incurred in respect of one trade against the income derived from another trade, thereby reducing their overall […]
October 11, 2018

Valuation of preference shares

In income tax, the question of valuation of shares often causes a great deal of uncertainty, especially where shares are not traded on a recognised exchange. […]
August 17, 2018

SARS verifications, audits – when, why and what to do

Being selected for an audit and being selected for verification are two different processes. Verification: Once you have submitted your return, it could be selected for verification. A […]
August 17, 2018

Employees’ tax (part ii): are you a labour broker for tax purposes?

The deduction of employees’ tax is dependent upon three elements being present. These elements are all defined in the Fourth Schedule to the Income Tax Act[1] […]
July 18, 2018

Employees’ tax (part 1): Personal service providers

For there to be an obligation for PAYE to be withheld is typically dependent on three elements being present. These elements are all defined in the […]