Treasury downplays impact of schools’ forced VAT deregistration
ISASA says there has always been a distinction between exempt (educational) and taxable (commercial) supplies.
Tax
What ‘capital’ could be in a CIS capital distribution
A proposed amendment to the Income Tax Act will tax unit trust investors on capital distributions before disposals, without any base cost offset.
Treasury favours conditional access to retirement pot for retrenched workers
It is also open to discussions on letting members transfer all their vested savings into their retirement and savings components.
Tax amendments under fire for squeezing out revenue at the expense of growth
Industry stakeholders say poorly consulted proposals risk undermining investment, savings, and innovation.
Draft Bill hides a ‘stealth tax’ in your unit trust investments
Proposed amendments could undermine the tax-efficient compounding that makes a collective investment scheme an attractive investment vehicle.
Influencers in the tax net: SARS clarifies approach to digital income
Remuneration extends beyond cash payments – products, services, and travel perks must also be declared as taxable income.
Draft amendments narrow taxpayers’ ‘bona fide inadvertent error’ defence
The proposal restricts the ‘bona fide inadvertent error’ defence under the understatement penalty regime to cases where the tax shortfall is a ‘substantial understatement’.
SA residents face taxation on previously untaxed foreign pension benefits
The amendment treats foreign pension benefits like other residence-sourced income, shifting the retirement planning landscape for South Africans who worked overseas.
Treasury publishes tax changes affecting pensions, trusts, and individuals
In addition to foreign pensions and trust income, the measures affect death benefits, child maintenance, capital distributions by unit trusts, and assessed losses.
VAT-registered schools may face cashflow shock
The proposed blanket exemptions for goods and services supplied by schools will force VAT-registered schools to deregister and lose input-tax recovery.
Tax disputes: compliance and the interests of justice trump rigid timelines
The Supreme Court of Appeal found in favour of SARS despite it ignoring a 45-day timeline for more than a year.
Understanding the CGT implications of convertible preference shares
Knowing whether your conversion is ‘fixed’ or ‘contingent’ is crucial to avoid unexpected capital gains tax bills.
SARS: Almost 100% of its auto assessments are accurate
Tax practitioners say the headline statistic may obscure the true extent of incomplete auto assessments.
New Sygnia fund offers crypto exposure in a life insurance structure
The Life Bitcoin Plus Fund uses a ‘portable alpha’ strategy to generate returns beyond the performance of the iShares Bitcoin Trust ETF.
SCA confirms validity of a tax opinion when it is correct in fact and law
Supreme Court rejects SARS’s argument that the expert’s opinion was tainted by self-interest because of the fee he would earn.
Need for trust and taxpayer support to drive voluntary tax compliance
Despite improvements in taxpayer education and system simplification, low trust in government remains the biggest barrier to voluntary compliance in Africa.
SARS escalates crypto crackdown – how to advise clients
Whether clients are long-term holders of crypto or occasional traders, transparency now is better than an audit later.
