The reduction in the corporate tax rate to 27% triggers the effective dates for two sets of amendments made during 2021. One of...
Revised rules for utilising tax losses carried forward
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Corporate and business tax
Tax proposals in the 2022 Budget Review
The National Treasury published the 2022 Budget Review on Wednesday 23 February 2022. Amongst others this document sets out the...
Section 24C: The ‘contractual sameness’ requirement
Taxpayers may deduct an allowance for expenditure not yet incurred in the circumstances set out in section 24C of the...
The mechanics of asset-for-share transactions
Asset-for-share transactions qualify for relief under the corporate rule in section 42 of the Income Tax Act (‘the ITA’). In the...
Tax deductions for future expenses
Taxpayers are generally only entitled to deduct expenses in determining their taxable income when they actually incur the...
Tax treatment of bad and doubtful debts
In the current business conditions lenders increasingly face the prospect of not being able to fully recover debts. These debts...