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Capital gains tax: Envisaged disposal

Capital gains tax: Envisaged disposal

CAPE TOWN – My previous article ended on a sombre note: the favourite yellow submarine was scuttled and we could not buy love on Penny Lane. But all is not lost. I did tell you that proceeds, disposals assets and base cost are defined words and terms that have a...
OPINION: The ‘Yellow Submarine’of Taxes

OPINION: The ‘Yellow Submarine’of Taxes

JOHANNESBURG – The PA system at the track booms: “Your Silver Coin is out of the gate. He passed gross income and is a receipt of a capital nature.” Your palms get sweaty, your heart is racing, you’re winning! So what? What now? The money you received for...
OPINION | UNDERSTANDING EVERYTHING ABOUT TAXES

OPINION | UNDERSTANDING EVERYTHING ABOUT TAXES

What does a car need to move? Well, other than the driver and operator it goes without saying that the internal combustion engine does not function under any circumstances if the fuel tank is empty. Our country works pretty much the same way. It needs fuel to start...
Two things are certain in life: death and taxes

Two things are certain in life: death and taxes

JOHANNESBURG – You may have in the past felt like writing a letter to SA Revenue Service, and request to have your subscription to PAYE cancelled. The bad news is you can’t cancel the subscription. The Professional Tax Handbook Volume 1 contains 1 018 pages and I...
Be sure not to neglect the VAT gremlin – ever

Be sure not to neglect the VAT gremlin – ever

JOHANNESBURG – The Vaue Added Tax Act was introduced in 1991, roughly 27 years ago. You will be forgiven if you were under the misconception that VAT is a secondary tax. It’s not, and many intricacies can trip you up. Let’s get your VAT navigation pointing due...