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Employee trust 101

Binding Private Ruling 330 (“BPR330”) was issued on 3 October 2019 and relates to the tax implications arising from distributions of dividends and other amounts from an employee trust to beneficiaries on the termination of their employment. The taxpayer (a

SAAudit November 4, 2019November 5, 2019 Tax Read more

Farming operations: Tax implications

Farming in South Africa is like second nature to most South Africans, but the tax implications on farming operations seem to raise some questions when determining a taxpayer’s taxable income. The taxation of farming operations is subject to a unique

SAAudit November 4, 2019November 5, 2019 SARS, Tax Read more

Foreign employment income: Taxation

South Africa has a residence-based tax system, which means residents are taxed on their worldwide income, regardless of where that income was earned. South African tax residents living overseas and earning remuneration in respect of services rendered outside of South Africa are exempt from tax in South

SAAudit November 4, 2019November 5, 2019 Tax Read more

Usufructs and tax consequences

A usufruct is a limited real right in property. The usufruct construct takes the form of a common-law personal servitude, which, as a limited real right, grants the holder (the usufructuary) the right to use someone else’s property, including the

SAAudit November 4, 2019November 5, 2019 Tax Read more

What’s new in the world of tax?

On 21 July, National Treasury and the South African Revenue Service (SARS) released the second batch of draft tax amendments for the 2019 legislative cycle, which includes both proposed substantive tax amendments, and administrative changes. This follows the release of

SAAudit September 23, 2019September 23, 2019 Tax Read more

The different VAT supplies

There are a few instances where VAT is not charged at the standard rate of 15%. In the following newsletter, we distinguished between the different supplies that attract VAT but does not necessarily have the impact of a standard rate

SAAudit September 13, 2019September 13, 2019 Tax Read more

SARS dispute: What are the reasons?

Generally, disputes with the South African Revenue Service (SARS) are the result of an assessment which has been issued by SARS to a taxpayer. An assessment is the determination of an amount of a tax liability or refund, by way

SAAudit September 13, 2019 Tax Read more

What you need to know about Property Tax

Investing in a property or buying your dream home is an exciting and rewarding experience. But one of the not-so-exciting, but crucial parts of any property purchase is the calculation and payment of one or more different kinds of tax.

SAAudit July 17, 2019July 17, 2019 Property, Tax Read more

Tax season 2019: Improvements made to eFiling

SARS recently released two media statements, in which it notes several improvements made to eFiling for the 2019 tax season, including the issue of customised notices indicating specific documents required in the event of an audit or verification and a

SAAudit July 17, 2019July 17, 2019 Tax Read more

Income vs Revenue in the Sale of Shares

The distinction between amounts of a capital nature as opposed to a revenue (or income) nature is essential, and over the years, few other topics have enjoyed so much attention in our tax courts. Although most taxpayers appreciate this distinction,

SAAudit July 17, 2019July 17, 2019 Tax Read more
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Recent Posts

  • Employee trust 101
  • Farming operations: Tax implications
  • Foreign employment income: Taxation
  • Usufructs and tax consequences
  • Employees can make themselves at home

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