The Income Tax Act contains a number of special rules, often referred to as the corporate rules, to facilitate certain...
Assumption of contingent liabilities in restructuring transactions
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Corporate and business tax
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...
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...
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...
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...
Kangra Group case: Deductibility of damages settlement payment
The tax implications of arrangements involving claims for damages are often complex, whether viewed from the perspective of the...