SARS Binding Private Ruling 280
Date: 4 October 2017 Act: Income Tax Act 58 of 1962 Summary: This ruling determines the income tax consequences for the debtors and creditors that form part of the same group of companies, following the forgiving of a loan and subsequent liquidation of the debtors. This binding private ruling is valid for a period of […]
SARS Binding Private Ruling 279
Date: 14 September 2017 Act: Income Tax Act 58 of 1962 Summary: This ruling determines that the participation exemption from capital gains tax (CGT) is available in relation to the disposal of assets by a controlled foreign company (CFC) since the parties are not connected persons at the time of the proposed transaction, albeit that […]
SARS Interpretation Note 92
SARS has released their Interpretation Note 92 (documentary proof prescribed by the Commissioner). For access to the entire note, please click here
Launch of Special Voluntary Disclosure Programme (SVDP)
National Treasury released the following media statement on the special VDP for offshore assets. For access to the entire media statement, please click here. SARS have also updated the guide for special VDP, please click here to access the guide. Interestingly, the last version of the bill that proposed to include to the special VDP […]
Draft Taxation Laws Amendment Bill, 2016: (second batch) Revisions and Additions for Public Comment
Notable revisions include: Changes to section 7C (trusts and loan accounts) to remove the deemed interest imputation for loans to trust and replacing same with a deemed donation provision and removing the R100 000 annual donations tax exclusion prohibition. Extension of the Employment Tax Incentive to 28 February 2019; Dividends on restricted equity instrument will no […]