by Pieter van der Zwan | Jul 1, 2018 | Corporate and business tax, Individuals and wealth planning
The venture capital company (VCC) tax incentive was introduced in 2008 to assist small and medium entities in raising equity funding. An investor in a VCC can deduct the amount of the investment from his taxable income, despite this being a capital investment. The VCC...
by Pieter van der Zwan | Jun 10, 2018 | General tax matters
The Tax Administration Act (TAA) makes provision for prescription of tax assessments. This provides taxpayers with finality in relation to assessments after a period of time. The SCA considered in CSARS v Char-Trade whether an assessment had prescribed by the time...
by Pieter van der Zwan | May 11, 2018 | General tax matters
The previous article on the topic of understatement penalties (USP) concluded that taxpayers need to carefully consider the quality of and critically assess the soundness of advice obtained if they wish to rely on it as a basis to have reasonable grounds for a tax...
by Pieter van der Zwan | May 8, 2018 | Corporate and business tax
ividend income is subject to tax treatment, which if viewed only from the perspective of the recipient thereof, is more favourable than most other income. It is exempt from normal tax. Dividends paid by one South African company to another are furthermore exempt from...
by Pieter van der Zwan | Apr 17, 2018 | General tax matters
Most additional assessments raised by SARS following an audit into the affairs of a taxpayer include the imposition of an understatement penalty (USP) in terms of the Tax Administration Act (TAA). The USP is determined as the shortfall amount multiplied by a...
