It's now law : taxpayers will get stiff penalties if their second provisional tax payments are less than 80% of the final tax due - which is likely to cause a headache for many.
When can you deduct an expense? Section 11(a) contains the general principles.
This time of the year tends to be the "lull before the storm", with relatively little happening on the tax front as National Treasury gets ready for Finance Minister Trevor Manuel to present his Budget for the ensuing fiscal year.
You missed the valuation deadline, have sold the asset, and now you need to calculate the base cost..
How far can the deduction requirement "in the production of the income" be stretched?
What impact will this new tax have? What role will intermediaries play? Who does the liability for payment rest with?