New Cryptocurrency rules on the horizon

Tags: Income tax, Tax Reading Time: 4 minutes The 2022 Budget speech included a very important update on government’s stance on cryptocurrency.  Although recent income tax developments in the crypto space have largely focused on taxation of crypto profits, government...

Offshore Investing – know the potential risks

Tags: Income tax, Tax Reading Time: 4 minutes Estate duty and inheritance tax may arise on foreign assets in the event of the South African resident investor’s death. The overall benefits of owning offshore investments are generally well understood, while the...

Update on Exit Tax on retirement interest

Tags: Income tax, Tax Reading Time: 3 minutes The National Treasury has recently proposed to impose an income tax on retirement interest withdrawals for individuals who are no longer South African tax residents. This proposal has been reworked to avoid conflicts with...

Important considerations in Offshore Investing

Tags: Income tax, Tax Reading Time: 4 minutes The present political and economic climate in South Africa has resulted in a rise of local investors seeking to invest offshore. The desire for greater returns, asset stability and protection are significant drivers for...

Update on utilisation of Assessed Losses

Tags: Assessed loss, Income tax, Tax Reading Time: 4 minutes Company assessed losses are regulated by Section 20 of the Income Tax Act and state that a company can carry forward assessed losses should the entity continue to trade. If the assessed losses brought...