Tax defaults can linger beyond 8 years
Some debts tend to be rescinded or nullified after the lapse of a certain number of years or period. Such...
No CGT exemption on company-owned houses
Generally, the Income Tax Act provides a tax relief for individuals who dispose of their houses. In such cases, the...
Thin capitalisation tax rules don’t affect SOEs
The background The Income Tax Act was amended to restrict or limit loan interest deductions for tax purposes. The restriction...
Private societies and trusts pay tax
The private societies Basically, private societies relate to those organisations formed or created by private individuals, partnerships or private organisations....
Transfer duty due even on 1% share purchase
The basics Basically, transfer duty is levied on the disposal or transfer of immovable property. The tax is paid by...
No VAT claims on hotel expenses
Input tax Firstly, it is vital that we lay down a few basic VAT principles before we get to the...
Loans forgiven trigger donations tax
More often than not, individuals forgive each other and cancel out debts. However, in as much as a cancelled or...
Private use of business assets triggers VAT
The basics To fully comprehend this seemingly complex matter it is vital to take a step back and understand a...
No VAT claims on private phone calls
Today we want to analyse one of the most common mistakes done by some VAT registered taxpayers when it comes...
Rent-to-buy deals not VAT-smart
Allow us to clarify and demonstrate why rent-to-buy schemes may prove to be VAT-inefficient for suppliers, per the current VAT...
