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Tax Flash
On 29 April 2013, the National Treasury and SARS jointly released information on proposals to restrict the deductibility of interest under certain circumstances. These proposals are roughly alighted with those outlined in the 2013 Budget. Read More Date: 31 March 2013 Last month's Tax Flash focused on Budget related issues and so this issue is jam-packed with new items. Read More Tax Flash February 2013 - Budget Edition Date: 1 March 2013This issue of Tax Flash centers around the 2013 Budget. BDO has a web page dedicated to the 2013 Budget. Click here to visit it. Read More Date: 1 January 2013 We wish all our readers a happy and prosperous 2013! It is clear that tax does not take a break over the festive season judging from the tax legislation, binding rulings and regulations promulgated or issued during the latter part of 2012. Most significant during this period was the promulgation of the Tax Administration Laws Amendment Act (Act No 21 of 2012) on 20 December 2012. Note however that the Taxation Laws Amendment Bill of 2012 is yet to be enacted. Read MoreDate: 1 December 2012 In this final edition of Tax Flash for 2012 we take a closer look at two areas of proposed legislative amendments. These amendments are included in the Taxation Laws Amendment Bill of 2012 and in the Tax Administration Laws Amendment Bill of 2012 which are now due to be promulgated. Read More Date: 1 November 2012 In this November edition of Tax Flash we take a look at the introduction of a long-awaited concession allowing, in certain circumstances, for the deduction of interest incurred to finance the acquisition of shares. We also focus on the introduction on 1 July 2013 of withholding tax on interest paid to non-residents. If you missed our seminars in October on the introduction of the withholding tax on interest paid to non-residents and on the overhaul to the withholding tax on royalties be sure to read our article Embracing New Taxes. Read More Date: 1 October 2012 The focus of our October edition of Tax Flash is recent developments concerning the draft Taxation Laws Amendment Bill of 2012 (‘the draft TLAB'). Read More Date: 3 September 2012 Following from BDO's recent seminar on the Income Tax Act and Companies Act aspects of corporate restructurings, this September edition of Tax Flash looks at certain aspects of sections 41 to 47 of the Income Tax Act commonly referred to as the 'corporate rules'. These provisions provide for the tax neutral transfer of assets between companies where certain requirements are met and are frequently used to facilitate corporate restructurings. Read More Date: 1 August 2012 In this August edition of Tax Flash we concentrate on the Draft Taxation Laws Amendment Bill which was re-issued for public comment by SARS on 5 July 2012. The Bill gives effect to the majority of the changes to tax legislation announced by the Minister of Finance in his Budget speech of 22 February 2012. As is normal for such a Bill, it also includes other unannounced changes. Read More Date: 5 July 2012 In this July edition of Tax Flash we take a look at a recent Tax Court judgment which effectively eases the requirements for entities to qualify for the significant tax benefits enjoyed by small business corporations and micro businesses. Read More Date: 4 June 2012 In this June edition of Tax Flash we take a look at the Supreme Court of Appeal's recent judgment relating to the ‘exit tax' levied on the deemed disposal of assets triggered by a person ceasing to be resident in South Africa. The judgment prompted an immediate response from the Ministry of Finance suggesting that legislative changes may be required to restore the exit tax to its intended status however the effect of the judgment on the exit tax is questionable. Read MoreThe May edition of Tax Flash focuses on the proposed amendments to the Income Tax Act announced by National Treasury on 13 March 2012. We also consider the effect of the budget speech on SME's and keep you updated on important new releases from SARS. Read MoreIn this edition of Tax Flash we take a look at some of the practical issues around the administration of the payment of the dividends tax following its ‘go live' date on 1 April. We also discuss the proposed technical corrections to the dividends tax legislation which were recently announced. Paragraph 51A of the Eighth Schedule provides a window of opportunity to move a residence out of a trust or company without incurring tax, however the legislation is riddled with pitfalls. Our article on this ‘concession' reveals the potential downside of utilising the legislation and includes a discussion around the possible interpretations of the wording of the paragraph. Read MoreIn this March edition of Tax Flash, we discuss what steps your business can take to prepare for the impending Dividends Tax. Read MoreThe Taxation law Amendments Act, 2011(Act No.24 of 2011)Taxation Laws Amendment Act, 2011 (Act No. 24 of 2011) and the Taxation Laws Second Amendment Act, 2011 (Act No 25 of 2011) Taxation Laws Second Amendment Act, 2011 (Act No. 25 of 2011) were promulgated on the 10th January 2012 and 14th December 2011 respectively. With these amendments in mind this first issue of Tax Flash for 2012 takes a closer look at the recent and anticipated changes to South African income tax legislation with regard to cross-border transactions. Read MoreWelcome to the last edition of Tax Flash for 2011. In this year-end edition, we further explore the Tax laws Amendment Bill (TLAB) and the ways in which it will affect individual medical aid claims. BDO Tax specialist David Warneke also talks about the disposal of shares and how the TLAB will force company to pay higher Income Tax. Read More October's edition of Tax Flash focuses on a recent Supreme Court of Appeal judgment as well as issues relating to the new VAT system. Read More Date: 22 September 2011 Your September edition of the TaxFlash brings you insight into the scrapping of section 11(bA) of the Income Tax Act as well as an in-depth look into VAT refunding fraud. We'll explore property rental tax for the month of September which is national tourism month. Read More Date: 31 August 2011 In your August edition of the Taxflash, we explore the latest developments regarding the proposed changes to the corporate restructuring provisions and employee share trusts, as contained in the Draft Taxation Laws Amendment Bill of 2011. We also explore the proposed changes relating to Income Tax deductions for research and development expenditure and important VAT developments, unrelated to the Bill. Read More Date: 12 July 2011 Welcome to the July edition of Tax Flash. In this issue, we detail the developments of the Draft Taxation Laws Amendment Bill. You will also read about the progress of the voluntary disclosure programme launched by SARS at the beginning of the year as well as various VAT advancements. Read More Date: 3 June 2011 Your May edition of Taxflash explores the subject of renewable energy and how businesses could take advantage and benefit through tax deductions. We also look at new Interpretation Notes issued by SARS and a warning about giving out your banking details. You will also find information about our specialised tax training courses and a reminder to book for the VAT school in June. Places are limited so book early by to avoid disappointment. Read More Date: 8 April 2011 Did you know you could be receiving a tax incentive for research and development? This April edition of Tax Flash will give you more information about Section 11D of the Income Tax Act which is already resulting in tax savings for many of its applicants. We'll also tell you about Standard Income Tax on Employees legislation and its flaws. Read More Date: 21 January 2011 The first Tax Flash edition of 2011 is filled with interesting and enlightening information about the world of tax. We take an in-depth look at the latest court judgments and SARS's new draft guides. We also take a closer look at special trusts which have all the advantages of regular trusts but are also have significant added benefits in terms of tax. Read More In our previous 2 issues of TAXFLASH, we concentrated mainly upon the latest set of amendments. In the mean time, a host of rulings, tax guides, draft publications, rulings and interpretation notes have been issued, which add to the general body of tax knowledge. Read More On 24 August 2010, the Taxation Laws Amendment Bill was finally released. There was some indication of the shape of things to come in the form of a draft bill released on 11 June 2010. However, following public comment, the final bill contains many significant adaptations to the original proposals. Read More Welcome to the July edition of TAXFLASH. In this issue we reiterate the last minute relief measures relating to World Cup™ fringe benefits and analyse some of the key reforms proposed in the draft Taxation Laws Amendment Bill. Read More Tax Flash is our monthly publication for clients covering the latest developments in the tax arena. In our May edition, we examine the broad outline of the draft Tax Administration Bill, the increase of information requirement by SARS for tax returns and a new list of expenses and criteria for disability. Read More Date: 23 March 2010 Tax Flash is BDO's monthly tax newsletter for clients. In this issue we explore the proposed changes to the employment benefit rules as outlines in Finance Minister Pravin Gordhan's maiden Budget Speech in February. We also briefly examine three judgements recently handed down by our courts. Read More Date: 10 December 2009 Tax Flash is BDO Spencer Steward's monthly update on tax issues. In this issue we explore the issue of binding private rulings as they apply to the Advance Tax Rulings system. We also look at SARS' approval of the first Venture Capital Company (VCC) application in terms of section 12J of the Income Tax Act, and we warn you of some tough new penalties coming. Read More Date: 5 October 2009 In our previous two issues we focused upon the proposed changes under the draft amendment bills. Following numerous refinements, the drafts were formally tabled as bills before the National Assembly on 1 September 2009. Although the revisions to the drafts reflect a measure of compromise, there are some instances where further adaptation would have better catered for day-to-day practicalities. Read More Tax Flash is BDO Spencer Steward's monthly update on tax issues. In this edition we comment upon the continuing saga relating to the second provisional tax payment (P2). We also look at the remaining proposals according to the draft amendment bills issued at the beginning of June. Read More Tax Flash Special Issue - July 2009 PAYE – Beware of the latest penalty Tax Flash is BDO Spencer Steward's monthly tax update for clients. Read More Tax Flash is BDO Spencer Steward's monthly tax update for clients. Read More Tax Flash is BDO Spencer Steward's monthly update on tax issues. In this edition of Tax Flash we deal with topics such as Micro Business Tax Under the Microscopea and Tax Snippets Read More Tax Flash is BDO Spencer Steward's monthly tax update for clients. Read More Tax Flash is BDO Spencer Steward's monthly tax update for clients Read More In the September issue of Tax Flash we update you on the PAYE and personal tax return submission deadlines and draft changes to the Income Tax Act. We also outline a new interpretation note 46 which deals with sporting bodies. Read More Tax Flash is BDO Spencer Steward's monthly tax update for clients Read More In this issue : Substantial tax saving available for companies in respect of retained income and reserves; Increase in the compulsory VAT registration threshold; Submission of tax returns – a new system; and New tax guide on the deduction of medical expenses Read More In this edition of tax flash: PAYE – a tax risk to manage , Fringe benefits and foreigners working in the Republic of South Africa, Medical aid deductions – change in legislation Read More This issue covers tax related news and Secondary Tax on Companies (STC) vs. Dividend Tax on Shareholders... Read More This issue provides all the highlights of Budget 2008... Read More The proposed tax amendments that were published during the second half of 2007 were finally promulgated on January 8, 2008. The details of these expected amendments were published in the November 2007 edition of Tax Flash... Read More |
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