Legal updates and opinions

Introduction On 23 October 2024, when the Minister of Finance presented his Media-term Budget Policy Statement to Parliament, he also tabled various fiscal Bills.  In this [...]

Introduction The controlled foreign company (CFC) rules are contained in section 9D of the Income Tax Act, 1962 (the Act) and are designed as an anti-avoidance provision [...]

Taxpayers have multiple tax risk management options at their disposal when entering into complex transactions with each option having its own advantages and disadvantages. The complexity [...]

Section 46 of the Tax Administration Act, 2011 (TAA) allows SARS to request 'relevant material' in relation to a taxpayer for the purposes of administering a [...]

and Luke Magerman, Candidate Attorney A recent ruling published by SARS deals with the anti-avoidance implications of the disposal of an asset by a company shortly [...]

DOWNLOAD PDF On 1 November 2023, when the Minister of Finance presented his Medium Term Budget Policy Statement to Parliament, he also tabled various fiscal Bills.  [...]

The latest feedback received from National Treasury regarding the proposal to require foreign employers to register for employees' tax (Pay-As-You-Earn) has been significantly watered down but [...]

and Benedict Ngobeni - Candidate Attorney Reviewed by Ernest Mazansky - Director, Werksmans Tax (Proprietary) Limited Currently, income arising in a South African trust that is [...]

  An indispensable requirement for the claiming of an income tax deduction is that the taxpayer must be carrying on a trade and the expenditure in [...]

  Until the recent decision of TWK Agriculture Holdings (Pty) Ltd v Hoogveld Boerderybeleggings (Pty) Ltd and Others[1] (TWK) it had become vogue for courts to [...]

  The SCA recently handed down two judgments dealing with certain procedural aspects of dispute resolutions as provided for in the TAA. The key takeaway in [...]

  Many South Africans were unaware that, until 13 June 2023, if they acquired citizenship in another country (other than by birth) they would lose their [...]

  Many South Africans were unaware that, until 13 June 2023, if they acquired citizenship in another country (other than by birth) they would lose their [...]

  As every taxpayer knows, SARS has extremely wide powers under the various fiscal Acts to enforce and collect tax.  One of the protections given to [...]

  Currently, income that arises in a South African trust which is awarded to a foreign beneficiary during the same tax year is disregarded in the [...]

and Luke Magerman, Candidate Attorney A recent tax court judgment added valuable jurisprudence to the often-litigated issue of the interpretation of two conflicting legislative provisions. In [...]

and Luke Magerman, Candidate Attorney The draft legislation to give effect to the two renewable energy tax incentives announced in the 2023 Budget Speech was published [...]

by Benedict Ngobeni, Candidate Attorney   Concerns around money laundering and other illicit financial activities have been gaining traction over recent years, with authorities seemingly chasing [...]

Over the past 10 years, there has been large-scale domestic and international financial fraud in South Africa. Sometimes, trusts and foundations are involved, including both South [...]

Important Legal Changes It has been widely publicised that, in an attempt to head off grey-listing, there have been legal changes, two Acts were passed by [...]

In the September 2022 edition of Legal Weks we published an article titled "When is CTC not available as CTC" relating to the proposed amendment of [...]

By Kyle Fyfe, Director Tax Administration Act In a recent judgment of the High Court in a claim for declaratory relief against Dr Christo Wiese, to [...]

by Nicholas Fairbairn, Associate and, Kelly Sease, Candidate Attorney (Reviewed by Doelie Lessing) Cross-border transactions As a result of globalisation and the digitalisation of the economy, [...]