by Tony Davey | Dec 9, 2019 | Davey's Locker
CGT, estate duty and income tax upon death Any tax-structuring should always take cognisance of its impact on other taxes. For CGT purposes, the default position is that a deceased person is assessed on a ‘deemed disposal’ as at date of death, with the death-exclusion...
by Tony Davey | Nov 9, 2019 | Davey's Locker
A change of tax-residency status is the only sure-fire way to fully obviate the impact of the RSA tax on foreign employment income exceeding R1 million, effective as from 1 March 2020. As I said in 192 TSH 2019, your tax-residency status is one of fact and determined...
by Tony Davey | Oct 2, 2019 | Davey's Locker
SARS has recently issued a draft binding general ruling on the two-tier donations tax regime (see the Monthly Listing).Dual rate of donations tax An amendment came into operation on 1 March 2018, to the effect that a 20% rate applies to the aggregate value of property...
by Tony Davey | Sep 6, 2019 | Davey's Locker
Relief coming soon In circumstances in which annual tax-deduction limits to retirement fund contributions are exceeded, a taxpayer may carry forward the nondeductible portion to the following tax year, under s 11F of the Income Tax Act.Ultimately, upon retirement,...
by Tony Davey | Aug 9, 2019 | Davey's Locker
Tax harmonisation of retirement fund contributions As from 1 March 2016, all contributions to retirement funds (pension, provident and retirement annuity funds) are treated similarly for tax-deduction purposes, under s 11F of the Income Tax Act. The tax-deduction...
