by Pieter van der Zwan | Oct 12, 2019 | Individuals and wealth planning
Since 2000, when South Africa changed from a source-based to a residence-based tax system, South African residents earning employment income for services rendered outside South Africa enjoyed an exemption of such income if: the person spend more than 183 days outside...
by Pieter van der Zwan | Oct 8, 2019 | Corporate and business tax
A number of cases dealing with the valuation of trading stock have been considered by the courts in recent years. In C:SARS v Volkswagen SA (Pty) Ltd (‘VWSA case’) the SCA held that net realisable value (NRV), as determined for accounting purposes, does not reflect...
by Pieter van der Zwan | Jul 20, 2019 | Amendments
The draft Taxation Laws Amendment Bill for 2019 (draft TLAB) was published by the National Treasury on 21 July 2019. The draft bill contains proposals for amendments to be made as part of the 2019 legislative cycle. This article briefly reviews a selection of the...
by Pieter van der Zwan | May 5, 2019 | Corporate and business tax
The tax implications of lease arrangements may be inherently complex in nature. This includes the tax treatment of lease premiums and leasehold improvements. The tax court recently considered a case dealing with lease premiums in case no 14189. This article provides...
by Pieter van der Zwan | Apr 14, 2019 | Corporate and business tax
The Income Tax Act contains a number of special rules, often referred to as the corporate rules, to facilitate certain restructuring arrangements in a tax neutral manner. These rules were amended in 2017 by the addition of a definition of debt, which specifically...
