Category Archives: Tax

Budget 2020 highlights

“Ex Africa Semper aliquid novi,” winning requires hard work, focus, time, patience and resilience. Finance Minister Tito Mboweni delivered his National Budget Speech on 26 February 2020, leaving South African taxpayers pleased by the implementation of tax relief on personal income … Continue reading

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Everything you’ll ever need to know about death and taxes in South Africa

In South Africa, like in most countries, death and taxes go together in the form of inheritance taxes. These are taxes that the deceased estate has to pay, in addition to the personal tax of the deceased person for their … Continue reading

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Expat tax exemptions: No double taxation

On 1 March 2020, an amendment to the foreign employment income exemption comes into operation. There have been misperceptions about those expatriates that will be affected by this change to the tax law. Currently the exemption applies to South African … Continue reading

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Complexities of loans between related parties

Loans between related parties are a common occurrence in the SME business environment. These loans arise due to various reasons, such as assets being sold on loan account; money being drawn out, trust distributions made or dividends declared on loan … Continue reading

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Tax free investment savings accounts

Our clients will have noted the various advertisements on radio and in the media generally of financial service providers inviting the public to invest in their respective so-called ‘tax free savings’ investment products.  These accounts are made possible by section 12T of the … Continue reading

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Changes to bad debt allowance

Most South African businesses are at some point in time exposed to credit risk in the form of bad debts. Although taxpayers would undoubtedly prefer to recover the debts, the Income Tax Act[1] provides for some relief in cases where debts … Continue reading

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Interest free loans with companies

The latest annual nation budget presented in Parliament proposed the dividends tax rate to be increased with almost immediate effect from 15% to 20%. The increased rate brings into renewed focus what anti-avoidance measures exist in the Income Tax Act[1] that … Continue reading

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Alles wat jy moet weet oor skenkingsbelasting

Is jou kennis genoegsaam oor skenkingsbelasting? Dink jy dalk daaraan om ń familielid finansieel by te staan, of om ń kind te help met ń deposito vir die aankoop van ‘n huis of motorvoertuig? Voor jy die transaksie aangaan is … Continue reading

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Tax breaks for South Africans who install solar power systems

South Africa’s government, energy regulator and Eskom have often been criticised for obstructing the introduction of distributed, small-scale embedded generation (SSEG) which would help businesses to cut costs and ensure the stability of their power supply during load shedding. But … Continue reading

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Tax consequences of company loans to connected persons

The current article will focus on the provisions of section 64E(4), a section that determines the income tax consequences of low-interest or interest-free loans between companies and connected persons. Loans between companies and their connected persons are not uncommon in … Continue reading

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