Latest News

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…

A new income tax return, the IT14SD, was recently introduced by the South African Revenue Service (SARS) to enhance tax compliance by companies and close corporations. Read more…

Exceed Private Client Services offer a variety of property-related services, including property valuations, rental administration and bond applications. Read more…

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…

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…

Section 7 of the Income Tax Act targets assets which are donated by a taxpaying person to another person with the intention of avoiding tax on the profits derived from these assets. Keeping Section 7 in mind is therefore crucial for effective annual tax planning. Read more…

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…