Debt Archives - T Roos | Dynamic Tax and Accounting Firm

September 18, 2018

Published by Admin at September 18, 2018

VERANDERINGE AAN SLEGTE SKULD TOELAE

Die meeste Suid-Afrikaanse besighede word een of ander tyd blootgestel aan kredietrisiko in die vorm van slegte skulde. Alhoewel belastingbetalers ongetwyfeld verkies om die skuld te verhaal, bied die Inkomstebelastingwet[1] ’n mate van verligting in gevalle waar skuld sleg of twyfelagtig geword het. Nie alleen maak Artikel 11(a) voorsiening vir die aftrekking van verliese wat werklik aangegaan is in die produksie van inkomste nie, maar artikel 11(i) en 11(j) is spesifiek gemik op ’n aftrekking of toelaag vir slegte skuld en twyfelagtige skuld onderskeidelik. Hierdie twee bepalings is egter omstrede hoofsaaklik om twee redes. Eerstens is daar geen riglyn in […]

July 3, 2018

Published by Admin at July 3, 2018

DEBT REDUCTION RULES: NEW TAXPAYER FRIENDLY AMENDMENTS EXPECTED

The South African Income Tax Act contains a number of rules which give rise to onerous tax consequences where a taxpayer’s debts owing is forgiven. These rules were in recent years the subject of comprehensive legislative amendments. During the 2018 budget process, National Treasury indicated that it was aware of unintended tax consequences that arise from these new debt relief rules in the Income Tax Act that became effective for years of assessment beginning on or after 1 January 2018. On 31 May 2018, the South African Institute of Chartered Accountants (SAICA) published a feedback summary report from a recent […]