by Pieter van der Zwan | Mar 9, 2021 | General tax matters
Introduction Taxpayers who find themselves in a loss-making position often intuitively assume that as long as they are not liable to pay tax due to the fact that they have an assessed loss, they would not be exposed to understatement penalties (‘USPs’). This...
by Pieter van der Zwan | Mar 1, 2021 | Amendments
The National Treasury published the Budget Review 2021 on 24 February 2021. This document contains the announcements of tax rates and scales, but also proposals for various tax amendments of a more technical nature that the National Treasury intends to make as part...
by Pieter van der Zwan | Nov 22, 2020 | Amendments
The National Treasury recently published a number of bills that contain the amendments to the tax laws for the 2020 legislative cycle. This article reviews a selection of amendments that are likely to be of broad relevance to taxpayers and advisors. It is not intended...
by Pieter van der Zwan | Oct 1, 2020 | Corporate and business tax, Individuals and wealth planning
Asset-for-share transactions qualify for relief under the corporate rule in section 42 of the Income Tax Act (‘the ITA’). In the course of advising on these transactions or reviewing transactions proposed to taxpayers, I realised that taxpayers are often not aware of...
by Pieter van der Zwan | Sep 15, 2020 | General tax matters
Income tax legislation and accounting standards generally operate independently. Despite the fact that both ultimately aim to determine a measure of profitability, each has its own definitions and methodology to achieve a specific purpose. There have always been clear...
