All Articles
Budget 2019: Business and corporate tax perspective
The National Treasury published the Budget Review 2019 (‘BR2019’) on 20 February 2019. No significant adjustments were made to tax rates and the general perception of commentators appears rule to be that the BR2019 was less eventful from a tax perspective than in...
Deductions allowed for future expenditure
Taxpayers are taxed on income at the earlier of the date of receipt or accrual and are entitled to deduct expenditure to produce this income when such expenditure has been incurred. While the these two sets of events may in some instances fall in the same year of...
Timing of accrual of proceeds from cash sales of property
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...
Amendments to the debt relief tax rules
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...
Changes to venture capital company tax regime
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...
Valuation of trading stock for tax using IFRS as a basis
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...
Trust our expert knowledge and experience to reduce your uncertainty and solve your complex tax problems.
Need Advice?
We regularly advise and assist clients with South African tax matters. Do you need an opinion on the South African tax implications of a transaction or arrangement? Do you require assistance to resolve a tax dispute?