SUMMARY Background The Mr Z (the “Appellant”) was diagnosed with multiple sclerosis and peripheral polyneuropathy. As a result thereof, he claimed medical tax credits in terms of section 6B(1) of the Income Tax Act 58 of 1962 (the “ITA”) for the expenses that he contended he had incurred for treating his disability. The Appellant disputed
SUMMARY The Supreme Court of Appeal (the “SCA”) recently upheld an appeal against the decision of the Tax Court that had upheld an appeal by Clicks Retailers Ltd (the “Respondent”) against the refusal by the Commissioner for the South African Revenue Service (the “Appellant”) to approve an allowance in terms of section 24C of the
SUMMARY The taxpayer namely, B (Pty) Ltd (the “Appellant”) instituted appeal proceedings in the Tax Court against the Commissioner for the South African Revenue Service (“SARS”) (the “Respondent”).   Issue The Court in this matter was called upon to decide on whether the expenditure or loss of R18,273,271.26 (Eighteen Million Two and Seventy-Three Thousand Two
As a young professional, it is not necessary to revolt against paying taxes in order to protect your hard earned income. As important as it is to have independent financial advice when starting out your career, so too is continual tax planning. By understanding the tax implications of your financial products and investments, you will
SUMMARY The Supreme Court of Appeal (the “SCA”) recently set aside a decision of the Tax Court of South Africa, held in Gauteng (the “Tax Court”), in terms of which the Tax Court increased understatement penalties levied by the South African Revenue Services (“SARS”). Purlish Holdings (Pty) Ltd (the “Appellant”), having paid provisional tax to
BACKGROUND During 2007 to 2011, Char-Trade 117 CC (“the Respondent”), made various loans to related close corporations and companies within its group of companies. The Respondent reported these loans in its annual financial statements as ‘unsecured, bear interest at current rates and have no fixed terms of repayment’. The Commissioner for the South African Revenue
BACKGROUND In May 2014, the South African Revenue Service (“SARS”) audited a taxpayer (the appellant) and assessments were raised against the taxpayer in or during December 2014. The taxpayer lodged an objection against these assessments on 5 June 2015, despite the fact that the taxpayer was obliged to lodge said objection within 30 (Thirty) business
This article explains the different types of legal entities that charitable donations can be made to and the tax consequences of those donations. The aim of this article is to educate donors in order that they can organize their tax affairs in the most tax efficient manner possible within the parameters of our law. What
Summary The Applicant wanted to donate his farm to his grandchildren, but in order to avoid the tax implications thereof, he established a trust to which the farm was transferred.  The agreement for the purchase of the farm was signed by one of the trustees prior to either of them being authorised to act as
This article discusses the issue of whether services that are rendered to foreigners within South Africa are zero rated for VAT in terms of the Value Added Tax Act 89 of 1991 (the “VAT Act”). XO Africa Safaris CC (“XO Africa”) was a registered VAT vendor who assembled tour packages to foreign tour operators who