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Filter: Tax
Is your business being liquidated?

16 May 2018

Many businesses fail and consequently have to face financial crises that few recover from and in most instances, results in business owners... shutting doors for good. If your business has no assets or liabilities, the more simpler process of deregistration takes place. The liquidation process needs to be followed if your business has assets, liabilities or both.

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734
Article
Is the interest-free loan to a trust dead?

08 March 2017

For estate planning purposes a few years ago I moved some of my assets into a family trust and financed... the disposal to the trust with an interest free loan in my name. I understand that recent tax amendments will now impose unfavourable tax consequences on me in relation to this interest free loan. Is this true?

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433
Article
Reaping the benefits of empowering your employees

09 November 2016

I am the owner of a construction business. In our industry skills development is very important and I invest where... possible in training my staff. I understand that if I allow my staff to take up learnerships through my company there are certain tax benefits that I can use to help cover the costs of the learnerships. Is this correct?

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433
Article
The link between CGT and income tax

23 March 2016

The name “Capital Gains Tax” (CGT) can create the impression that CGT stands on its own as a seperate tax... from the rest of the taxes but this is not the case. CGT forms part of the Income Tax system and capital gains and capital losses must be declared in the annual Income Tax return of a taxpayer.

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462
Article
Can donations tax be payable on a sale of property?

13 October 2015

I recently established a trust. I want to sell one of my properties to the trust by way of an... interest-free loan with the trust owing me the purchase price of the property. However, I was advised that such an interest-free loan may give rise to donations tax. Is this so? Is there any way to avoid this?

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391
Article
Must I pay capital gains tax if I sell my house?

06 August 2015

I bought my house, which I’ve always lived in since buying it, for about R1 million in 2000, and on... my auditor’s advice had it appraised in October 2001 for R1.1 million. Over the years I had about R200 000 worth of improvements done to the house. I maintained the house well and recently put it up for sale to move to a smaller townhouse. I now received an offer of R3.7 million for the house. However I understand that I might have to pay capital gains tax on the sale, and am worried about how much that may be?

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394
Article
Tax implications of an interest-free loan to your subsidiary company

08 July 2014

Holdco (Pty) Ltd has recently established a subsidiary company Subco (Pty) Ltd. As a new company, Subco is in need... of a cash injection. Accordingly, Holdco provides a voluntary interest-free loan to Subco to help it out with some much-needed capital to help grow its business. But what are the tax implications of this interest-free loan, if any?

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430
Article

BEST LEGAL Q&A 2021, EDITION 6

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BEST LEGAL Q&A 2021, EDITION 6

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