Latest News

March 23, 2018

RECENT CHANGES TO SECTION 7C

BACKGROUND Section 7C of the Income Tax Act came into effect on 1 March 2017. This section specifically deals with Interest Free- or Low Interest Loans to Trusts. The aim […]
March 23, 2018

RESEARCH AND DEVELOPMENT: INCOME TAX TREATMENT

The need to become more technology proficient and being actively engaged in the scientific and technological innovation space, has become a top priority for a lot of companies because of […]
February 6, 2018

Welcoming Tax news for franchise owners

The Tax Court has upheld a decision that a tax deduction allowed by section 24C of the Income Tax Act may be applied to franchisee costs. Section 24C permits the […]
February 2, 2017

Tax implications of international branches

Irrespective of whether a South African company is expanding its business offshore, or whether international businesses set up shop in South Africa, companies trading internationally are often confronted with the […]
November 25, 2016

Misuse of assessed losses

An assessed loss for income tax purposes is a potentially valuable asset:  it represents past losses made by a taxpayer which is able of being carried forward to subsequent tax […]
October 26, 2016

The general anti-avoidance rules

The Income Tax Act, 58 of 1962 (‘Income Tax Act’) contains various specific anti-avoidance rules aimed at preventing the abuse of certain specific sections in the Income Tax Act. However, […]
September 28, 2016

Financial assistance to directors

A company lending money to its directors may not be as simple a process as it may initially appear to be – not even in the case of so-called “one-man” […]