by Simone | Mar 23, 2018 | Tax
Tags: 1 March 2017, Income Tax Act, Section 7C Reading Time: 5 minutes 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 of Section 7C is to...
by Simone | Mar 23, 2018 | Tax
Tags: Draft Taxation Laws Amendment Bill., Income Tax Act, Section 11D Reading Time: 5 minutes 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...
by Simone | Feb 6, 2018 | Tax
Tags: Income Tax Act, Tax Court, Tax news Reading Time: 3 minutes 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 deduction of certain expenses in the...
by Simone | Feb 2, 2017 | Tax
Tags: Income Tax Act, Tax implications Reading Time: 4 minutes 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...
by Simone | Nov 25, 2016 | Tax
Tags: General anti-avoidance rules, Income Tax Act, SARS Reading Time: 3 minutes 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 years...
