I was recently asked an interesting question by someone who, due to circumstances beyond her control, found herself without her employment just after the start of the Covid 19 pandemic and, like many other brave people, she formed a company to start a new business. The business is finally starting to reap the benefits of … Continue reading Does SARS ‘come to the party’ when it comes to helping small businesses get off the ground? →

Most of us associate the Spur Steak Ranches with beef burgers, steaks and special sauces. Not tax! However, in October last year (2021) a judgment was issued by the Supreme Court of Appeal (“SCA”) that showed that one’s ‘taste for life’ can be severely inhibited if your tax return is not completed fully and honestly. … Continue reading If you have a “Taste for Life” best you complete your tax return properly →

When the 25 year-old son of a family friend called me to ask how SARS will treat the gains he may derive on the Bitcoins he invested his pocket money in over a number of years, I gave him a brief verbal answer thinking the amounts will probably be quite small. However, out of curiosity … Continue reading How will SARS tax your Bitcoin gains? →

2020 has been a difficult year for many and it isn’t getting any easier. People have lost their jobs and, with the latest lockdown, more are likely to. But perhaps one of the better traits of the human race is its ability to adapt and to be innovative, especially in times of difficulty. So, we … Continue reading How to move your small business into a company tax-free →

The Lockdown period, for those who still have some income, has given time for reflection and the opportunity to make some firm decisions about the future. In a recent article it was reported that the number of enquiries from South Africans to a global emigration advisory company during this time showed a significant spike, as … Continue reading Leaving South Africa for good? What does this mean from a tax perspective? →

In my previous article I talked about the possibility of some income tax relief that you may qualify for whilst working from home. This is particularly relevant given many people have little choice but to do so under the Lockdown. However, one needs to also be aware of the negative tax consequences of working from … Continue reading Working (‘Trading’) from your home and the impact on the R2 million CGT primary residence exclusion →

In my last article I spoke about the fact that the VAT treatment differs for different uses of immoveable property, but I left the “commercial accommodation” aspect for today’s article. The holidays are a good time to address this issue as it looks at various types of ‘holiday accommodation’ and whether there is a need … Continue reading How the VAT works for holiday accommodation →

Confusion continues to reign when it comes to fixed (immoveable) property (which I shall simply refer to ‘property’ here) and VAT. The key is to be aware of the use to which you are putting the property, and to make sure you are treating the VAT correctly (I won’t look at the documentary requirements here … Continue reading VAT for fixed property can be a minefield →

You are probably aware that, notwithstanding that you may be a registered vendor for VAT purposes and you obtain valid VAT tax invoices for everything you buy for your business, you are generally not allowed to claim the VAT charged to you for the purposes of ‘entertainment’ as an input tax deduction on your VAT … Continue reading Incorrectly claiming VAT when your business spends money on food, beverages, hospitality and other “entertainment” could prove costly. →