ABUSING TAX COURT PROCESSES WORK?

[Durban, 03 March 2021] The full bench of the Western Cape High court recently delivered judgment¹ (Cloete J dissenting) in a favour of a taxpayer who, according to

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COVID-19: HOME OFFICES AND TAX DEDUCTIONS

The media is rife with comments regarding the economic impact of the outbreak of the COVID-19 virus (the so-called “Coronavirus”) in South Africa. Many people have been asked,

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FINANCIAL EMIGRATION, TAX RESIDENCY AND SA BUDGET 2020: HAS THE CAT BEEN LET OUT OF THE BAG?

Many seem to be surprised by comments in the 2020 Budget Review documents released on 26 February 2020 to the effect that financial emigration status and tax residency

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SARS KNOWS ABOUT YOUR RENTAL PROPERTY

[vc_row][vc_column][vc_column_text]At the launch of the 2019 filing season, SARS publicly stated that “Many taxpayers still do not declare rental income from properties and we will improve our data

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SARS’ VERIFICATIONS, IT14SD, ADDITIONAL ASSESSMENTS AND UNDERSTATEMENT PENALTIES

[vc_row][vc_column][vc_column_text]Most companies would by now have filed their ITR14 for the 2021 tax year and many would have been selected for verification. This means they will have to

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TAX CLEARANCE CERTIFICATES: LAW CHANGES

Law ChangesThe importance of a tax clearance certificate for most businesses cannot be overstated. It often happens though that SARS raises an assessment giving rise to an unexpected

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THE EMPLOYEE’S BAD DEBT DEDUCTION

Many businesses are struggling to make ends meet. Unfortunately, in these circumstances, employers may be unable to pay salaries but nevertheless still issue IRP5 certificates indicating the salary

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SA Tax Penalties on Companies

Tax Penalties on CompaniesOn 14 December 2018, the public notice that allows the South African Revenue Service (“SARS”) to impose penalties on companies for not submitting income tax

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Should deposits be included in gross income?

The question of whether deposits should be included in a taxpayer’s gross income has become a contentious topic in recent months following SARS’ increased interest in deposits. Taxpayers

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TAX ON PROFIT ONLY?

In layman’s terms, the general rule is that taxpayers who carry on a trade only pay tax on “profit” (taxpayers registered for turnover tax being one obvious exception

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