Posts by editor
Income Tax Act amendment regarding roll-over of capital gains tax
Paragraph 51A of the Eighth Schedule of the Income Tax Act, introduced in 2010, pertains to companies and trusts being used to purchase residences to avoid the imposition of transfer duty. Read more…
Read MoreKey Person Insurance Policies Revisited
Amendments to the tax legislation on key person insurance policies require employers to take action in respect of certain policies before 31 August 2012. Read more…
Read MoreNew Tax Administration Bill discussed
The Tax Administration Bill (TAB) is expected to come into effect during the last quarter of 2012. Some of the most noteworthy advantages and disadvantages of several new provisions of the Bill are discussed here. Read more…
Read MoreNew fringe benefit for employees
For many years, employers were allowed to deduct their contributions made to employee disability or death policies on behalf of their employees, with no matching accounting for a fringe benefit in the hands of their employees. This changed on 1 January this year. Read more…
Read MoreIncreased accountability for estate agents
From 1 March 2011, all estate agents have had to meet the requirements of the Financial Intelligence Centre Act 38 of 2001 (FICA). Read more…
Read MoreTax incentives in the pipeline for VCC investors
According to the Draft Taxation Laws Amendment Bill published in June 2011, a new venture capital company (VCC) regime will apply from 1 January 2012, should the draft amendments be implemented. Read more…
Read MoreAmending Memoranda of Incorporation
Since the new Companies Act of 2008 came into effect on 1 May 2011, companies have been faced with challenges regarding compliance with its numerous provisions, including the Memoranda of Incorporation. Read more…
Read MoreRetention periods for accounting documents
Due to various legislative requirements, accounting documentation should be retained for a certain period. To assist clients with ascertaining the relevant retention periods, a summary of the most important acts and provisions is supplied. Read more…
Read MorePermanent Voluntary Disclosure Programme for tax payers
Although the Voluntary Disclosure Programme (VDP) for tax payers ended on 31 October 2011, all is not lost for those who missed the deadline. A permanent VDP is in the pipeline. Read more…
Read MoreMinimise tax liability with tax-free earnings
From 1 March 2011 increases in rebates and the so-called foreign dividend and interest exemption for individuals have enabled taxpayers to earn a reasonable amount before becoming liable for normal tax. Read more…
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