Ruling sheds light on SARS’s application of section 12B tax incentive
Binding Class Ruling 88 provides guidance on what qualifies as a ‘generation asset’ and how the allowance applies to limited partners investing in solar PV energy assets.
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Income from influencer activities is taxable
A common misconception among influencers earning income from international sources is that payments from abroad are not subject to taxation in South Africa.
SARS can seize the property of third parties on the premises identified in a warrant
The suspicion that the third party’s vehicle contained material relevant to the taxpayer under investigation was sufficient for it to be searched, SCA finds.
Budget 2024: how the inflation monster will affect taxpayers
The Budget Review suggests that National Treasury does not intend adjusting the tax brackets for at least another two years.
Kieswetter agrees to extended term as SARS head amid economic challenges
The commissioner says the Revenue Service has put measures in place to meet the revised estimate for revenue collection.
SARS’s R4.8bn damages claim has no merit, says Sasfin
The summons is a result of SARS’s purported inability to collect taxes owed by former clients that were allegedly part of an international criminal syndicate.
Another amendment coming to curb tax avoidance when making an interest-free loan to a non-resident trust
The context to Treasury’s concern is where the arm’s length interest rate is lower than the official rate of interest.
Fiscal risks to SA remain despite government’s debt-containment measures
National Treasury continues to toe the line between fiscal continuity, consolidation, and declining revenues amid an increasingly stagnant local economy.
Godongwana’s financial juggling is no substitute for economic growth
Whether the objectives as set out in the Budget are achievable will be determined by the government’s political will to anchor expenditure and put resources to better use.
Tax-smart giving: support education with section 18A amid funding challenges
Danielle Luwes, tax director at Hobbs Sinclair Advisory, provides clarity on the process and benefits of section 18A donations.
Understand the nuances of anti-avoidance rules, or get a binding ruling
Sars binding private ruling highlights the importance of regularly reviewing the nature of a preference share or an equity instrument.
Prosecution challenges threaten South Africa’s exit from FATF grey list
The National Prosecuting Authority Amendment Bill will play a pivotal role in bolstering South Africa’s prosecution capabilities, says CDH’s Louis Botha.
Industry and organised labour respond to new proposed two-pot date
All stakeholders emphasise the need to finalise the amendments to the Income Tax Act and the Pension Funds Act.
Two pots: proposed implementation date is neither 1 March 2024 nor 1 March 2025
The Minister of Finance responds to the Standing Committee on Finance’s call for the implementation date to be moved to 1 March next year.
Considerations when deciding whether to keep a company dormant or close it
An entity can formalise its dormancy by way of a liquidation process or by deregistering with the Companies and Intellectual Property Commission.
South Africans abroad must review their Sars profiles for tax compliance
The South African Revenue Service is flagging tax returns that have not been filed and where it has third-party information available to it.
Tax professionals ‘should prepare for more major shifts in SA’s tax system’
The compliance landscape has shifted from ticking the boxes to risk anticipation, risk identification, and proper disclosure.
