by Pieter van der Zwan | Mar 3, 2020 | Amendments
The National Treasury published its annual Budget Review on 26 February 2020 (‘the Budget Review’). The above-inflation proposed adjustments to the progressive tax brackets, rather than anticipated increases in tax rates, surprised many commentators. Chapter 4 and...
by Pieter van der Zwan | Feb 2, 2020 | Corporate and business tax
Section 24C of the Income Tax Act provides an allowance for certain obligations to incur expenditure in future. The Supreme Court of Appeal (SCA) delivered its judgment in the matter between C:SARS v Clicks Retailers (Pty) Ltd (‘the Clicks case’), which related to the...
by Pieter van der Zwan | Nov 5, 2019 | Corporate and business tax, Individuals and wealth planning
The National Treasury announced in the 2019 Budget Review that the anti-dividend stripping rules will be amended to apply to certain dilutive arrangements that undermined these rules. The Taxation Laws Amendment Bill of 2019, which was introduced in Parliament on 30...
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...
