Tag: Ernest Mazansky
When can losses on shareholders’ loans be claimed as a tax...
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.
Offshore trust rules to be tightened?
The general principle is that South African resident individuals who have settled offshore trusts are taxed on the income and capital gains of that trust (or its underlying subsidiary) in terms of the Income Tax Act, 1962 (the Act).
TAX JUDGEMENT | Revocation of tax compliance status
A recent judgment handed down in the Pretoria High Court last month highlights SARS’s intransigence when applying certain aspects of the Tax Administration Act, 28 of 2011 (the TAA).
PODCAST: Paradise Papers – not a clear-cut debate
Ernest Mazansky, Tax Director, Werksmans Attorneys and Dr Ivor Blumenthal, discuss the controversy of the recent leak of hacked client records called the Paradise...
Tax avoidance could be a tax trap
In 2016, the Income Tax Act (“the Act”) was amended to provide for a further tax burden where (by and large) individuals had advanced...
