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...
by Pieter van der Zwan | Aug 4, 2020 | Corporate and business tax
Taxpayers are generally only entitled to deduct expenses in determining their taxable income when they actually incur the expenditure. Section 24C of the Income Tax Act provides an exception to this rule. This article provides a brief overview of the provision and...
by Pieter van der Zwan | Jul 14, 2020 | Corporate and business tax
In the current business conditions lenders increasingly face the prospect of not being able to fully recover debts. These debts may include trade debts, for example, trade receivables, but also longer-term debts. This article provides an overview of the relevant tax...
by Pieter van der Zwan | Jul 1, 2020 | Corporate and business tax
Debt restructuring arrangements are likely to become more prevalent in the tough economic conditions that South Africa currently encounter. One of the key considerations when entering into such an arrangement is to understand the tax consequences. This article...
