by VDT Attorneys | Jul 23, 2024 | Income Tax, Income Tax Act, Tax, Tax Advisory
Section 24O of the ITA can in certain circumstances be utilised in acquisition transactions when a company obtains financing to acquire equity shares in another company. The operative provision of this section essentially permits the interest levied on the financing...
by VDT Attorneys | Feb 21, 2024 | Donation, Donation tax, Tax, Tax Advisory, Tax liability, Tax planning, Wealth management
For tax purposes, a donation is defined as “any gratuitous disposal of property including any gratuitous waiver or renunciation of a right”. This means that the donation must be free or at no charge and should the donee (recipient) who receives a donation give...
by VDT Attorneys | Sep 8, 2023 | Estate Planning, Fiduciary Accounting, Tax Advisory, Tax Compliance, Wills and Trusts
With the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act 22 of 2022 (“Amendment Act”) having come into full effect on 1 April 2023, SARS has updated its online income tax return system to enable SARS to intensify the verification...
