- Did you know you can get roll-over relief on these three assets
- Whenever you sell an asset, you have to pay capital gains tax (CGT). But there are some situations where it's not fair for you to pay capital gains tax on the disposal of your asset if you're not getting instant financial gain.
In these cases, your capital gains tax consequences are rolled-over and the asset are transferred on a tax-free basis. This is done to defer a capital gain or loss.
... ››› more
- [03 June 2015]
- If your company's insolvent, SARS will treat it like this
- If your company's insolvent, there are tax consequences you need to know about. After all, just because you closed down, doesn't mean you don't still owe SARS.
To help you avoid any nasty surprises, we're revealing exactly how SARS treats insolvency...
Here's how SARS treats company insolvency
SARS used to regard insolvent companies as separate taxable entities, and the tr... ››› more
- [13 November 2014]
- Do you know what your creditor's tax consequences are if your company goes insolvent?
- In this tough economic climate, running a business is hard. It's the reason so many businesses have to liquidate because they don't have the money to keep running.
But if you're in that position, you need to know what the tax consequences are before you make the insolvency call.
This particularly applies to your company's creditors, if you have any.
Read on to discover the tax consequenc... ››› more
- [13 November 2014]
- Don't let the spirit of generosity land you in trouble with SARS
- With Mandela Day last Friday, you may still be feeling that giving spirit. Suddenly the urge to change the world for the better has taken over your company.
So you decide to make several sizable donations to help better the world. But before you put another cheque in the mail, let me warn you: There are tax consequences of making more than one donation.
That giving spirit may be great for h... ››› more
- [21 July 2014]
- Make sure you really know what goes into your gross income so SARS can tax you on the right amounts
- It's often quite difficult to decide what you should include in your gross income as revenue and what you should include in your capital gains as capital.
What you earn, make or receive during the year can lead to severe tax consequences if you don't get it right.
This is simply because SARS taxes income of a revenue nature very differently to that of a capital nature.
But, if you unde... ››› more
- [26 March 2014]
- Six more tax consequences for PBOs
- Did you know that there are tax consequences if you're a Public Benefit Organisation (PBO)? Continue reading to find out what they are so you can comply.
Make sure you're aware of these six tax consequences if you're a PBO
In this article, we gave you four tax consequences for PBOs. Now we're going to give you six more tax consequences so you can comply.
#1: PBOs fall within the Unemplo... ››› more
- [10 March 2014]
- What is a partnership and what are the tax consequences?
- The tax treatment of partnerships is very different to that of companies? That's because you and your partners are personally liable for any tax owed by the partnership. Sounds confusing? It's not. Continue reading to find out everything you need to know about partnerships and its tax consequences.
Before we tell you about the tax consequences of a partnership, let's look at what exactly a part... ››› more
- [29 January 2014]
- Revealed: Four things you SHOULD know about insolvency and tax
- Benjamin Franklin's often-quoted line about 'the certainty of death and taxes' is equally fitting in today's society. When death comes in the form of insolvency, taxes aren't too far behind. Here are the four things you should know about insolvency and tax.
According to the Practical Tax Loose Leaf Service, being declared insolvent means that the person or entity concerned (the debtor) is unabl... ››› more
- [24 October 2013]
- Insolvency and tax: Here are the tax consequences if you're the creditor
- Have you ever wondered where SARS stands when a business goes under? If you're the creditor, read on find out what to expect so you won't find yourself between a rock and a very hard place...
'There's a great deal of confusion when it comes to the role of the taxman in the case of an individual or business entity going insolvent,' says the Practical Tax Loose Leaf Service.
If you're also u... ››› more
- [24 October 2013]
- Three tax consequences that apply to amalgamation transactions
- Telecoms giant, Orange has expanded its reach in South Africa through a deal with Nashua Mobile. The deal will allow Orange to extend its brand presence in the country with products aimed at South Africans who travel to countries such as France and Botswana, reports Business tech. While corporate reorganisations provide an opportunity for companies to mutually benefit from each other, there's lega... ››› more
- [14 June 2013]