Global Tax Village

International tax noose tightens ‘Global village’, according to Wikipedia, is a term relating to the constant presence between one another due to the use of telecommunica­tions. The term is credited to Canadian-born Marshall McLuhan. In his books The Gutenberg Galaxy:...

Donations tax exemption and the VDP/SVDP

Section 56(1)(g) of the Income Tax Act Donation of foreign assets In the course of regularizing their offshore tax affairs under the normal Voluntary Disclosure Programme or the Special Voluntary Disclosure Programme, many taxpayers need, amongst other things, to...

Loans Between Trusts

Yet more on s 7C of the Income Tax Act In essence, s 7C of the Income Tax Act subjects to an annual donations tax, effective as from 1 March 2017, an interest-free or low-interest loan to a resident trust. The effect of applying the 20% donations tax rate to the 8%...

The Special Voluntary Disclosure

Extend the deadline! A group of tax practitioners (me included) is lobbying the National Treasury, requesting the Minister of Finance to grant an extension to the SVDP. Complexity During the 2002/2003 forex and tax amnesty process there was one valuation date for the...

Primary Residence Exemption

More on s 7C of the Income Tax Act Effective as from 1 March 2017, s 7C of the Income Tax Act subjects to an annual donations tax an interest-free or low-interest loan to a resident trust (167, 168 TSH 2017; see also the Monthly Notebook in this issue). An exemption...