Special Board Decision no. 188, a decision of the Germiston Special Board, will be of interest to one-man businesses who are under severe pressure to convince SARS they're legitimate corporate entities.
The SA Revenue Service has been busy opening offices (namely the new Corporates Office in Megawatt Park, Johannesburg - see the article on page 3 of this issue) and closing loopholes (the latest being a Secondary Tax on Companies avoidance scheme - details also on page 3).
September saw the relocation of the SARS Corporate Tax Centre from Randburg to its new home in Megawatt Park, Johannesburg. The new office will be called the SARS Corporates Office and will cater for large corporate taxpayers, among them listed companies, parastatals and unlisted companies with a turnover of more than R250m.
The South African Revenue Service has discovered that some multinational companies have avoided paying an estimated R200m in Secondary Tax on Companies (STC) by using their foreign parents as a shield.
Divorce and separation could mean that you are exposed to unexpected capital gains tax. So either kiss and make up, or make sure you understand how transfers between spouses can attract CGT down the line.