Articles

The Chain of Publication – Social Media Update

Be very careful about posting controversial, defamatory or abusive messages on social media sites… you could end up in court staring down a very hefty legal bill.

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Productive Asset Allowance – Revenue or Capital in Nature

The issue which arises in the Appeal case of Volkswagen South Africa (Pty) Ltd / The Commissioner for the South African Revenue Service (1123/2016 ZASCA 190) is whether the accrual of rebates calculated with reference to capital expenditure, and to which the Appellant became entitled under a government scheme to support the local motor industry, should be regarded as accruals of a revenue or capital nature.

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Share Buy-Backs and Capital Gains

On 18 December 2017, the Taxation Laws Amendment Act, No. 17 of 2017 was promulgated, whereby amendments were made to paragraph 43A of the Eighth Schedule to the Income Tax Act. The amendment made to Paragraph 43 of the Eighth Schedule effectively provides that buy-backs that meet certain criteria are to be treated as proceeds for CGT purposes.

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What to Expect from February’s Budget Speech

South African citizens and investors are feeling slightly more optimistic now that Cyril Ramaphosa is the President of the ANC. That being said, however, February’s budget speech is still going to be a tense affair.

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B-BBEE and Trusts

There have been many questions raised recently regarding the correct application of the principles
of B-BBEE to ownership by trusts.

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Not So Sweet

As most people are aware, the Sugary Beverages Levy (“SBL”) will come into effect on 1 April 2018 and applies to consumers, manufacturers and importers of sugary beverages. It is a new Health Promotion Levy introduced in support of the Department of Health’s deliverables to decrease diabetes, obesity and other related diseases in South Africa.

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Second Draft Carbon Tax Bill

National Treasury published a second draft Carbon Tax Bill for introduction in parliament, as well as for public comment on 14 December 2017.
The actual date of implementation of the carbon tax will be determined through a separate and later process by Minister Gigaba through an announcement during 2018 or at the Budget 2019, taking into account the state of the economy.
Stakeholders are invited to submit written comments on the draft carbon tax bill by close of business on 09 March 2018 to carbontaxbillcomments@treasury.gov.za.

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The National Minimum Wage Bill

The purpose of the National Minimum Wage Bill is to improve the wages of the lowest paid workers and to protect them from being paid unreasonably low wages. The minimum wage will apply to all employees as defined in the The Basic Conditions of Employment Act, No. 75 of 1997, and only excludes independent contractors and members of the South African National Defense Force, the National Intelligence Agency and the South African Secret Service.

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Ho, Ho, Ho, It’s Off to School We Go! A Head’s Up Regarding School Indemnities

With the kids back at school, many parents receive the school's Consent, Indemnity and/or Waiver in respect of general school activities, outings which they are told to sign. Do you know what you are signing?

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Cause to be Concerned: The Competition Amendment Bill

On 1 December 2017, the Minister for Economic Development slipped the Competition Amendment Bill, 2017 into the Government Gazette allowing 60 days for comment........Make no mistake, if passed, these changes will have an enormous impact on the way firms do business in South Africa.

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