case law

  • Tax Court, Johannesburg | XYZ (Pty) Ltd v CSARS (ITC 14189)

    • whether a receipt by the appellant taxpayer in respect of a lease premium was of a revenue nature or a capital nature, considered.
    • alternative argument of the taxpayer that if the receipt was not of a capital nature, the taxpayer should be entitled to a deduction in terms of section 11(h) of the Income Tax Act, 1962 (the "Act"), considered.
    • whether the appellant earned the amount of the lease premium as a result of the lease agreement, considered.
    • taxpayer's substance over form argument that the intention of the parties was a sale of rights, and not a lease, considered.
    • find a copy of this judgment here .

legislation and draft


  • publication of Explanatory Summary of the Customs and Excise Amendment Bill

    • the Minister intends to introduce the Bill in the National Assembly shortly.
    • find a copy of the summary here .
  • budget tips

    • Minister Mboweni invites South Africans to share their views about economic conditions and other issues they would like government to highlight in the Budget on 20 February 2019.
    • find a link to the invite here .

advance tax rulings

  • binding private ruling 316 | amalgamation of companies in terms of business rescue plan

    • section 44 of the Act and section 8(25) of the Value-Added Tax Act, 1991 (the "VAT Act").
    • this ruling determines the income tax and value-added tax effect of an amalgamation transaction for consideration involving the assumption of liabilities only.
    • find a copy of this ruling here .
  • binding private ruling 317 | disposal of business by way of asset-for-share transaction

    • sections 7B; 11(a) read with 23(g); and 42 of the Act.
    • sections 1(1) – definition of "vendor"; 8(25); and 16(3) of the VAT Act.
    • this ruling determines the income tax and VAT consequences of the disposal of a business by way of an "asset-for-share transaction" as envisaged in paragraph (a) of that definition in section 42(1).
    • find a copy of this ruling here .
  • binding private ruling 318 | corporatisation of a collective investment scheme in property by way of an asset-for-share transaction followed by an amalgamation transaction

    • sections 42 and 44 of the Act.
    • section 8(1)(a)(ii) of the Securities Transfer Tax Act, 2007.
    • this ruling determines the tax consequences arising out of the conversion of a collective investment scheme in property to a corporate REIT in accordance with the procedure set out in Notice 42 of 2014 issued by the Registrar of Collective Investment Schemes under the Collective Investment Schemes Control Act, 2001.
    • find a copy of the ruling here .

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