Taxpayers may deduct an allowance for expenditure not yet incurred in the circumstances set out in section 24C of the...
Section 24C: The ‘contractual sameness’ requirement
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Corporate and business tax
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...
Tax consequences of debt relief
Debt restructuring arrangements are likely to become more prevalent in the tough economic conditions that South Africa currently...
Telkom case: Exchange losses on shareholder loans
The Supreme Court of Appeal (‘the SCA’) delivered judgment in Telkom SA SOC Limited v C:SARS (Case no 239/19) [2020] ZASCA 19 on...