For more information please refer to our morning seminar on the Tax Administration Act to be held on Thursday 18 October 2012. We can also arrange an in-house workshop on the Tax Administration Act to be presented to your personnel, if this is more convenient for you. Please refer to the draft agendas for either the seminar or inhouse-workshop attached.
Directors of companies should take note of the provisions regarding financial assistance to directors or director-related parties, as laid down by the new Companies Act of 2008 and, particularly, section 45 of the Act. Read more…
SARS now has access to all one’s bank details, including all payments made or amounts received in one’s accounts. Read more…
One of the draft regulations to the new Tax Administration Act deals with the keeping of records in electronic format. Should these regulations come into force, taxpayers might be well advised to seek the assistance of an IT specialist when compiling certain documents. Read more…
Joining a professional organisation may represent an outstanding return on what amounts to a modest, manageable investment of time, money and effort. The connections you make, the resources you have access to and the ideas and advice you’ll discover may turn out to be beneficial to both your professional development and your career. Read more…
The Tax Administration Act, No. 28 of 2011, which came into effect on 1 October 2012, has given the South African Revenue Services (SARS) certain information gathering powers. This article gives a broad overview of the rights and limitations to the powers of SARS when visiting a taxpayer’s premises without prior notice. Read more…
In October this year, the Department of Trade and Industry (DTI) issued revised Black Economic Empowerment (BEE) Codes for comment. The proposed changes will have some positive and various severely negative effects. Read more…
When a business is sold, goodwill qualifies as an asset for capital gains tax purposes. It is therefore important to establish the value of the proceeds of the sale and the base cost of the goodwill. Read more…
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…
Transactions across international borders are complex. Adding the tax effects of such transactions into the mix can turn them into a mine field. The domestic tax laws of each of the contracting states have to be considered, as well as the implications of a double tax agreement between the two states, if applicable. Read more…