Refundable ‘premium’ sinks taxpayer’s insurance deduction
The High Court finds that most of the payment was a recoverable, interest-bearing deposit rather than expenditure incurred for genuine insurance cover.
#taxdeduction
Applying excess retirement contributions: implications for lump sums, annuities, and estates
Allan Gray’s Carla Rossouw clarifies excess contributions in relation to deduction limits, annuity income taxation, and the treatment of benefits at death.
Excess retirement contributions: when they help – and when they hurt
Converting discretionary savings into retirement vehicles can cut tax on living annuity drawdowns – but may reduce long-term value.
Budget strengthens saving for retirement, says Sanlam
The changes include the increase in the annual tax-deduction cap, and new annuitisation and living annuity commutation thresholds.
Farmer wins court battle over R10m insurance deduction
The Tax Court rules against SARS in a dispute over a contingency insurance deduction, reaffirming the legitimacy of the policy and its role in protecting income-generating activities.
