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Tag: Capital Gains Tax (CGT)

Tax Court confirms auditor’s advice is not ‘Get-Out-Of-Jail-Free’ card

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The Tax Court has again confirmed that there is no safety for taxpayers in relying on their auditor’s views to justify a tax position adopted. To the contrary, where a taxpayer infers that their tax position is justified 'because my auditor said so', it can actually result in a larger tax penalty.

Protecting your legacy: family trusts under the spotlight

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Wealthy parents are often concerned about the preservation of their hard-earned family fortunes for their children, and rightly so: research has shown that around 70% of young heirs end up failing as custodians or stewards of the family wealth, sometimes squandering it within a few years after inheritance.

Cryptocurrency – a primary concern for tax authorities

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Cryptocurrency has heralded a new dawn of investment, and regulators worldwide have been sluggish to respond. However, it is now firmly on the tax radar for revenue authorities globally; and the South African Revenue Service (SARS) position seems to be no different.

Common money saving mistakes and how to avoid them

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With the cost of living increasingly expensive, it is important to know how and where to save money. In this way, you can get a handle on your finances and feel more in control. We all have different money management styles. Along the way can find ourselves making mistakes, which can cost us a lot and possibly set us back on our money saving quest.

Relaxation of loop structures – but at what tax cost?

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The envisaged future relaxation of the prohibition on 'loop structures' will be accompanied by amended tax laws, but current proposals are likely to result in more tax on certain structures. National Treasury has proposed a number of amendments to tax legislation as a result of the potential future relaxation of the SA Reserve Bank's current prohibition on so-called 'loop structures'. 

Tax tips for claiming home office expenses

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The COVID-19 pandemic has necessitated many employees to work remotely from their homes during the lockdown period. This in turn has meant that employees had to ensure that a space, or part of their home, was set up in such a manner that it was conducive for them to work from home effectively and productively.

When can losses on shareholders’ loans be claimed as a tax...

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It is an inevitable consequence when operating in a distress economy, such as we find ourselves in South Africa these days, that shareholders will find themselves disposing of companies for less than they paid for them, whether the companies were formed or purchased by those shareholders.

Pieces of financial wisdom for 2020

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January marks the start of both a new year and a fresh and exciting new decade with many more challenges and surprises in store. So, as we wrap up 2019 and prepare to set off into the roaring 20s, I found myself pausing to reflect on the key financial lessons that life has taught me thus far, offered here for the benefit of others walking their own financial journeys.

Naspers capitalisation could be taxing

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SA investors taking up stock in Prosus when it lists next month may be liable for capital gains tax. Naspers has cautioned investors on the tax implications ahead of next month's listing of its international assets in Amsterdam.

Anti-dividend stripping provisions

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On 20 February 2019, Finance Minister Tito Mboweni announced new anti-dividend stripping tax avoidance provisions relating to 'disguised sales', which is intended to address perceived abuse of the dividend stripping provisions that were enacted in 2017.

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