October 7, 2020

Tax deductions against salary earnings

Our clients who earn only a salary will know that very few tax deductions are available against salary income for income tax purposes and whereby they […]
October 7, 2020

Bursaries and scholarships: The tax rules are changing

Over the past several years, many employers and employees have made use of the beneficial tax treatment of bursary and scholarship schemes, as provided for in […]
August 4, 2020

The give and take of share transfers

Many business transactions are concluded in terms of section 42 of the Income Tax Act. The section essentially allows a transfer of an asset by a person to a company, in […]
May 5, 2020

Fringe benefits and retirement funds

Binding Class Rulings (BCR) are issued in response to applications by a specific class of taxpayers (usually persons that will have the same tax consequences apply to them from a transaction) and clarifies how the Commissioner for […]
May 5, 2020

Transferring assets from persons to companies

Many business transactions are concluded in terms of section 42 of the Income Tax Act. This section essentially allows a transfer of an asset by a […]
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 […]