Important dates for November 2014

For more information on the voluntary third provisional tax payment for the tax year ended 28 February 2014, please refer to the section below the table. Important dates 24-10-2014 – Submission and Payment of VAT201 – Manual Registered Vendors 31-10-2014 – Submission and Payment of VAT201 – Registered VAT eFilers 31-10-2014 – Employer Interim Reconciliation ends 07-11-2014 – Submission and Payment […]

Usufruct and Capital Gains Tax

Usufruct is often applied as part of estate planning in order to save on Estate duty, as the calculated value of the usufruct qualifies as deduction for Estate duty, should the usufructuary be the surviving spouse. E.g. a woman may bequeath her property to her son provided that her spouse has lifelong usufruct from it. Obviously this kind of bequest […]

Capital Gains Tax and the sale of a property

What is meant by Capital Gain? A person's capital gain on an asset disposed of is the amount by which the proceeds exceed the base cost of that asset.   What is base cost? The base cost of an asset is what you paid for it, plus the expenditure. The following can be included in calculating the base cost: The […]

Introduction

Dear Friends and Clients, Welcome to the first edition of our new monthly newsletter. We are ending this year with some exciting new initiatives – evident in our new look logo and a brand new website. It was time for a change and we are excited to share it with you. Visit our website to read more about the different […]