by Pieter van der Zwan | Feb 3, 2019 | General tax matters
A taxpayer is generally taxed on amounts at the earlier of accrual or receipt of those amounts. If one looks back at case law over the years, the timing of accrual of amounts has often been a contentious matter. The recent judgment in Milnerton Estates Ltd v CSARS in...
by Pieter van der Zwan | Jan 28, 2019 | Amendments, Corporate and business tax
The Income Tax Act contains specific rules that determine the tax implications if a taxpayer is relieved of its debts obligations. These rules were significantly amended during the 2017 legislative cycle. The National Treasury acknowledged various concerns with the...
by Pieter van der Zwan | Jan 13, 2019 | Corporate and business tax, Individuals and wealth planning
The South African National Treasury introduced the venture capital company (VCC) regime in section 12J of the Income Tax Act in 2008 as an incentive for investors to make equity funding available to small and upcoming businesses housed in qualifying companies. Despite...
by Pieter van der Zwan | Nov 7, 2018 | Corporate and business tax, General tax matters
Income tax returns are often prepared using financial statements as a starting point and making some adjustments to reflect the differences between accounting profits and taxable income. In C:SARS v Volkswagen SA (Pty) Ltd the SCA considered whether a taxpayer could...
by Pieter van der Zwan | Oct 18, 2018 | Value Added Tax
When it comes to property rental transactions a number of permutations exist from a VAT perspective. In brief, the agreement can give rise to a supply of residential accommodation (which is exempt), a supply of commercial accommodation (which is not fully subject to...
