NEWS | A DEADLINE APPROACHES
The Section 12J Venture Capital Company (VCC) sector is fast approaching its moment of reckoning, as a sunset clause comes into effect in June 2021.
The Section 12J Venture Capital Company (VCC) sector is fast approaching its moment of reckoning, as a sunset clause comes into effect in June 2021.
SARS Views – Not a Law Unto Itself It is an unfortunate sight when tax advisors from varied backgrounds, but more so those who do not have a legal background, turn a blind eye to South African tax legislation and rather submit to the ever-dominating “views” of SARS.
A recent amendment to section 10(1)(o)(ii) of the Income Tax Act, affecting South Africans working abroad, has resulted in major panic and concern. South African tax residents working abroad will now find themselves having to pay tax on their income insofar as it exceeds R1 million.