Don’t lose that tax loss!

Sustaining losses on certain activities, blissfully assuming that SARS will chip in at year-end? Make sure that this loss is not ‘lost’ forever. Many people have invested in second properties based on the knowledge that, for the first few years at least, they would have to fund the shortfall until such time as the rents […]

Is a maintenance payment a ‘Donation’?

Helping someone out may be exempt from donations tax—but as always, the devil is in the detail… Donations tax is one of those strange taxes where people often question its existence.  After all, why would SARS be so mean as to want to tax someone’s generosity?  The main reason is estate duty—or, more specifically, the […]

Transfer duty – No surprises – Part 2

The Transfer Duty Act 40/1949 (“the Act”) states that transfer duty (duty) is to be levied on any property acquired by any person by way of a transaction. The Act is clear as to whom and by when the duty is to be paid. It states that the duty shall be payable by the person […]

What to do after discovering fraud in your business

Anyone who’s ever had the misfortune to fall prey to credit card fraud, knows that it’s a huge hassle. If you’re running a business, you should be aware that your business may be at an even greater risk of having its financial data compromised, which can have much more serious implications compared to that of […]

ESCAPING THE HIGHER CAPITALS GAINS TAX RATE

By Barry Ger, senior manager for corporate tax at KPMG 01 April 2012  A window of opportunity opens for some companies.  If your company is thinking of selling any capital assets and its year end is not February  or March there may be a window of opportunity to do it at the lower effective tax rate for […]