Selling shares and options at a loss

A recent Tax Court ruling sheds light on capital gains tax, abandoned options, witness testimonies and understatement penalties.

Spending other people’s money

South Africa’s taxpayers finance our welfare system, but as the list of recipients keeps on growing, is it sustainable?

Understanding the contra fiscum rule

This common law rule is applied where the interpretation of a particular tax statute is ambiguous.

SARS is a creditor like any other

The taxman has to wait his turn in the creditors’ queue after a liquidation.

Tax: who are the good guys and who are the bad?

The Organisation for Economic Cooperation and Development (OECD) was formed in 1961, ostensibly to promote economic and social well-being. It is made up of members of developed countries and is...

The diesel rebate: what does the law actually say?

Are farmers entitled to claim the diesel rebate when they or their contractors fill up vehicles at the market?

8 ways to avoid paying tax

Although government has closed some of the loopholes, there are a number of creative, legal ways for South African businesses to avoid paying tax.

Clarity on VAT and foreign companies

A recent Supreme Court of Appeal judgement relating to VAT and foreign tour operators will be of interest to wildlife farmers and safari lodges.

Challenging a disallowed assessed loss

An interesting ruling involving assessed losses was recently released by the Western Cape Division of the Tax Court.

How to negotiate with SARS

If you want peace, prepare for war, goes the ancient adage. This is certainly a maxim to live by when it comes to negotiating with SARS.

Understanding income tax and capital gains tax

Many readers have asked about income tax, deductions and capital gains tax. Here is a very short overview of how it all works.

Contesting a pulpable loss

A court recently found that grapes were ‘held’ by a farmer even after being pulped into grape juice and mingled with grape juice from other producers.

More trouble than it’s worth?

A fairly generous deduction is allowed under the Income Tax Act in respect of research and development, but it’s not that easy to claim.

How SARS hampers your lawyers

Time constraints, e-filing codes, queues, admin delays .... SARS red tape makes it well nigh impossible for a lawyer to fight a tax dispute.

Beware the time bar in future payment agreements

A High Court judgement clarifies the issue of capital gains when a property is returned, as well as the time limits for making objections to SARS rulings.

SARS, coconuts & pulp fiction

A recent SCA ruling restates the methods of interpretation of tariff headings and their applicability to products subject to the Customs and Excise Act.

Is tithing tax deductible?

The question of tax and tithing recently came up and the answer is likely to interest many readers.

Writing off capital debt

Reduction in a company’s debt is covered by Paragraph 12A of the 8th Schedule to the Income Tax Act.

Well played in Durban!

A recent Tax Court judgement is relevant to those wishing to challenge reassessments.

Saving your assessed losses

An assessed loss can be a valuable asset that helps you pay less tax – but it must be protected.

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Tax Advice