Foreign employment income amendments

Myths abound ‘Financial emigration’ Amidst the panic created by the amendments to s 10(l)(o)(ii) of the Income Tax Act, which, with effect as from 1 March 2020, will subject to tax in the RSA foreign employment income in excess of R1 million earned by RSA taxpayers...

Late objections and appeals

Issue 5 of Interpretation Note 15 On 21 December 2018, SARS issued an updated Interpretation Note 15 (Issue 5). This pertains to the exercise of a senior SARS official’s discretion to condone a late objection or appeal. The legal principles underlying the relevant...

Donations tax conundrums

Festive gifts It’s the festive season and ’tis the season for giving. Maybe it is coincidental that the topic of donations to political parties, high-profile persons and others features prominently in the press. Donations tax is levied by s 54 of the Income Tax Act,...

Retirement Tax Fund

Provident fund annuitization I canvassed the harmonization of all retirement funds (pension, provident and retirement annuity funds) in 153 TSH 2015. In essence, as from 1 March 2016, contributions to such funds are treated similarly for tax purposes. Thus provident...