The South African Revenue Service (“SARS”) implemented several changes to the income tax returns for trusts (the ITR12T) on 17 September 2018. These changes are in […]
Determining the tax consequences in respect of any lump sum benefits from retirement funds can be complex and various legislative changes have been incorporated over the last […]
The Income Tax Act[1] provides for a natural person who derives income from farming operations to elect (within three months after a year of assessment) to […]
Being selected for an audit and being selected for verification are two different processes. Verification: Once you have submitted your return, it could be selected for verification. A […]
With the 2018 tax-filing season for individuals in full swing, it is worthwhile looking at a common misconception regarding the determination of capital gains tax for […]
Tax legislation allows a taxpayer to claim certain expenses which were incurred during a year of assessment against the income received. Nevertheless, the nature of expenses […]
The South African Income Tax Act contains a number of rules which give rise to onerous tax consequences where a taxpayer’s debts owing is forgiven. These […]
Our clients who earn only a salary will know that very few tax deductions are available against salary income for income tax purposes and whereby they […]
