Explore the Category

Further tax relief extended to property developers of rental units

29 January 2015 | Tax

Temporary relief to property developers allowing them to let residential property without incurring a VAT liability has further been extended for a period of three years, according to new tax legislation. Since 10 January 2012 property developers have enjoyed temporary tax relief under the provisions 18B of the Value-Added Tax Act. The current provisions of the Value-Added Tax Act (‘VAT Act’) have enabled property developers to let residential units for a period of 36 months while holding stock in trade from the date of conclusion of a lease agreement, without having to account for VAT.

Draft ruling on unbundling transactions

09 December 2014 | Tax

The South African Revenue Service (SARS) recently issued a draft Binding General Ruling (BGR) that addresses the interpretation of the words "at the end of the day after that distribution" as used in s46(3)(a)(v) of the Income Tax Act 58 of 1962 (Act). Section 46 of the Act deals with unbundling transactions and provides parties to such a transaction with relief from various taxes that would otherwise become payable.

Tax: No evidence justifying penalty

02 December 2014 | Tax

Judgment was handed down in the Tax Court on 18 November 2014 in the case of AB (Pty) Ltd v The Commissioner for the South African Revenue Service (case number 1132, as yet unreported).

The treatment of foreign pensions

25 November 2014 | Tax

In terms of s10(1)(gC)(ii) of the Income Tax Act, No 58 of 1962 (Act) a pension received by or accrued to a resident from a source outside South Africa as consideration for past employment outside South Africa is exempt from the payment of tax. In terms of s9(1)(i) of the Act it is indicated that an amount is deemed to be sourced within South Africa if the amount constitutes a pension or annuity and the services in respect of which the amount is received or accrued were rendered within South Africa. However, if an amount is received or accrued in respect of services which were rendered partly within and partly outside South Africa, only so much of the amount as bears to the total of the amount the same ratio as the period during which the services were rendered in South Africa bears to the total period during which the services were rendered must be regarded as having been received by or accrued to the person from a source within South Africa.

quick poll

Question

If you had to choose one approach to protect your hard-earned investment cash from today’s market madness, which would it be?

Answer