Monthly Archives: June 2016

FINANSIëLE HULP DEUR MAATSKAPPYE MET UITREIKING VAN AANDELE

Afdeling 38 van die Maatskappywet, 61 van 1973 (nou herroep), het ‘n verbod bevat op maatskappye wat aandele op leningsrekening uitreik aan voornemende aandeelhouers. Dit is geïdentifiseer as een van die struikelblokke wat spesifiek in die pad van SEB-bemagtigingsooreenkomste gestaan … Continue reading

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MISBRUIK VAN BERAAMDE VERLIESE

‘n Beraamde verlies vir die doeleindes van inkomstebelasting is potensieel ‘n waardevolle bate: dit verteenwoordig vorige skuld van ‘n belastingbetaler wat oorgedra kan word na daaropvolgende belastingjare waarteen toekomstige belasbare winste verreken kan word. Die verrekening van vorige verliese – … Continue reading

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MISUSE OF ASSESSED LOSSES

An assessed loss for income tax purposes is a potentially valuable asset: it represents past losses made by a taxpayer which is able of being carried forward to subsequent tax years against which future taxable profits are able of being … Continue reading

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FINANCIAL ASSISTANCE BY COMPANIES TO ISSUE SHARES

Section 38 of the Companies Act, 61 of 1973 (now repealed) contained a prohibition against companies issuing shares to prospective shareholders on loan account. This was identified as one of the hurdles in the way of BEE empowerment deals specifically … Continue reading

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TAX PENALTIES: UNDERSTATEMENT PENALTIES IN THE TAX ADMINISTRATION ACT

The Tax Administration Act, 28 of 2011, introduced the notion of ‘understatement penalties’ which are levied on a percentage based method. The penalties are levied depending on which behaviour is exhibited by the taxpayer, to be classified in terms of … Continue reading

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SALARY SACRIFICE SCHEMES – LATEST JUDGMENT BY THE SUPREME COURT OF APPEAL

Salary sacrifice schemes are popular in practice. Typically, they involve employers paying a decreased salary to their employees, with an added fringe benefit to make up for the lost ‘cost to company’ sacrificed by the employee to obtain the benefit. … Continue reading

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