All Articles
Valuation of trading stock for tax purposes
A number of cases dealing with the valuation of trading stock have been considered by the courts in recent years. In C:SARS v Volkswagen SA (Pty) Ltd (‘VWSA case’) the SCA held that net realisable value (NRV), as determined for accounting purposes, does not reflect...
Proposed tax amendments for 2019
The draft Taxation Laws Amendment Bill for 2019 (draft TLAB) was published by the National Treasury on 21 July 2019. The draft bill contains proposals for amendments to be made as part of the 2019 legislative cycle. This article briefly reviews a selection of the...
Tax complexities of lease arrangements
The tax implications of lease arrangements may be inherently complex in nature. This includes the tax treatment of lease premiums and leasehold improvements. The tax court recently considered a case dealing with lease premiums in case no 14189. This article provides...
Assumption of contingent liabilities in restructuring transactions
The Income Tax Act contains a number of special rules, often referred to as the corporate rules, to facilitate certain restructuring arrangements in a tax neutral manner. These rules were amended in 2017 by the addition of a definition of debt, which specifically...
VAT: Separation of supplies into parts
Where a supply consists of parts that would be subject to different VAT rates if consideration had been charged separately for each part, the VAT Act requires that such parts be treated as separate supplies (section 8(15) of the VAT Act). This article briefly reviews...
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...
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