Understanding the Foreign Services Income Exemption: The Requirement for Service Rendering
Many articles have been written about the application of the foreign income exemption provided for under Section 10(1)(o)(ii) of the Income Tax Act. This section provides for an exemption from South African tax from specific employment income earned while rendering services outside South Africa. The section limits such income qualifying for the exemption to any […]
Tax ‘Tune-Up’ for 2024
Tweaks to help make your filing easier this year…and save some tax! “Time sure flies when you’re having fun”, so the old saying goes. The other day I was listening to Footloose being played over our local movie complex’s PA system, and it dawned on me that this Kenny Loggins classic will be 40 years […]
Deducting income tax and CGT for estate duty
Deducting income tax and CGT for estate duty Is subjecting taxpayers to estate duty on post-death asset growth appropriate? In 1789 Benjamin Franklin said that “in this world nothing can be said to be certain, except death and taxes”. He was right about death—but anyone who has had to interpret our tax laws would know […]
Tax compliance lives beyond death
A deceased estate takes on a (tax) life of its own while being wound up I started my first job back in September 1987 at the tender age of 18, and approximately nine months later I received my very first income tax return from the Receiver of Revenue (as SARS was known in those days), […]
How to qualify as a public benefit organisation
Non-profit organisations can apply for approval as a “public benefit organisation” (“PBO”) in terms of section 30(3) of the Income Tax Act1 in order to qualify for tax exemption under section 10(1)(cN) of the Income Tax Act. In terms of these provisions, the organisation’s sole or principal object must be the carrying on of one or more public benefit […]