Tax Breaks Newsletter - Volume 2015, Issue 352, 2015
Volume 2015, Issue 352, 2015
Author Arthur KampSource: Tax Breaks Newsletter 2015, pp 1 –2 (2015)More Less
The South African National Treasury noted in 2013 that small, micro, and medium enterprises account for 55 per cent of employment in South Africa. Accordingly, small business has been a focal point for the National Development Plan, including National Treasury's tax policy, in recent years.
Source: Tax Breaks Newsletter 2015, pp 2 –3 (2015)More Less
The late Robin Williams, in his role as Reverend Frank in the movie Licence to Wed, has put together what is probably the most, shall we say, 'innovative' marriage course ever devised. I mean, if your marriage can survive blindfold driving, learning to 'fight fair', and the little Hitler from the 'Ministers of Tomorrow' programme, then it will last forever!
Author Mandy KyleSource: Tax Breaks Newsletter 2015, pp 4 –5 (2015)More Less
The Sars Commissioner issued a public notice in the Government Gazette on 16 March 2015, listing reportable arrangements and excluded arrangements for purposes of the reportable arrangement provisions of the Tax Administration Act (TAA). The public notice is effective from the date of publication, and replaces all previous notices.
Author Peter SurteesSource: Tax Breaks Newsletter 2015, pp 5 –6 (2015)More Less
If a taxpayer receives money, goods and services from sponsors in return for providing branding and marketing services to the sponsors, output VAT is payable on the value of these receipts. The question is, if the sponsors decline to furnish tax invoices for the money, goods, and services they receive from the taxpayer in return, may the taxpayer infer an input claim from available evidence?
Source: Tax Breaks Newsletter 2015, pp 6 –7 (2015)More Less
Although the foreign capital allowances for South African residents were increased with effect from 1 April 2015, some industry players say that SARS' procedures still leave them in the same position they were before - that is, they get tax clearance on amounts up to R4 million (usually within a few days), but are referred for audit where amounts exceed R4 million.
Source: Tax Breaks Newsletter 2015, pp 7 –8 (2015)More Less
Author Wessel SmitSource: Tax Breaks Newsletter 2015 (2015)More Less
Unexpectedly receiving a large sum of money can go a long way in easing some financial pressure or building a nest egg - but often the situation can look very different after the taxman took his cut of the pie. These are the tax implications of three types windfalls for individuals.