“Whether the delivery of food orders to the taxpayer’s customers constitute a service supplied by it for consideration in the course, or furtherance, of its enterprise (and therefore whether same is within ambit of Value Added Tax Act, No. 89 of 1991). If so, whether VAT falls to be paid on taxpayer’s delivery charges or […]
This ruling determines the income tax consequences resulting from cash contributions to be made by the applicant to a special purpose vehicle (separate property company) established to provide housing for the employees of the joint venture and the group of companies of which the Applicant forms part. The separate property company (SPV) will obtain funding […]
This Binding Private Ruling deals with the reinstatement of a deregistered company in order to complete a transfer of immovable properties, pursuant to an amalgamation transaction. It concerns section 44(13) of the Income Tax Act, section 8(25) of the VAT Act, and section 9(1)(l)(iB) of Transfer Duty Act. Click on the button below to view […]
SARS recently changed their dispute process on e-filing to include additional functions such as allowing taxpayers to request suspension of payments online or submitting a request for remission of interest and admin penalties. The system furthermore compiles the DISP01 on your behalf and only requires the taxpayer to select the amounts under dispute and to […]
SARS provides unhappy taxpayers with the following three ways to submit a complaint: Via E-filing; At a SARS branch; and Through the SARS Compliant Management Office (CMO) The CMO should be contacted telephonically on 0860 12 12 16 and taxpayers should only submit a compliant where they have the relevant case reference number. As the […]
National Treasury would like to inform all members of the public that the tax harmonisation reforms of retirement funds will be implemented from 1 March 2016. This is in terms of the current law legislated in 2013, and amended in 2014 by shifting the effective date to 1 March 2016 (i.e. the Taxation Laws Amendment […]
It is that time of the year again when Medical Aid Schemes are releasing their premium rates for the 2016 calendar year. In a comparison, conducted by Remuneration Consultants South Africa, the 2015 and 2016 contribution rates of seven of the most prominent Medical Aid Companies in South Africa revealed an on average contribution rate […]
Whilst political opportunism, some would argue, delayed the Minister of Finance, Nhlanhla Musa Nene, from delivering his medium term budget statement in parliament in October 2015, the Minister eventually had an opportunity to address parliament. Amidst the building chaos outside of the parliament building and the weakening rand, the Minister announced a few important and interesting […]
The first automatic exchange of information between tax jurisdictions took place in September 2015. The system is aimed at assisting revenue authorities across the globe with combatting base erosion and profit shifting. South African taxpayers who has been using offshore bank accounts to evade South African tax will be well advised to seek professional assistance […]
Let’s face it: as a general populace, we aren’t great at managing money. But it’s no wonder why: From taxes to investing to debt-busting, there’s a lot that goes into financial planning. And while we’re all for learning to do it yourself, there are a number of reasons you’d enlist the help of an advisor. […]