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There are several different capital allowances allowed by the South African Revenue Service (SARS) with regards to buildings, this article focuses on 2 of these capital allowances:
Following the 2023 National Budget on 21 February 2023, draft legislation was published on 28 July 2023 where it was proposed by National Treasury (NT) that all foreign employers would be required to register for Employees Tax (PAYE) and make the necessary payments to the South African Revenue Service (SARS) in respect of remuneration paid to any employees located in South Africa (SA).
As from 28 August 2023, the South African Revenue Services (hereafter “SARS”) has embarked on a mission to protect documents with passwords in order to ensure that the intended recipient can access the information.
In terms of current law, should trust income be vested in a discretionary beneficiary of such trust during the same year of assessment in which it is received by or accrues to the trust, the income flows through the trust as a conduit and is taxed in the hands of the beneficiary.
In Henque 3935 CC t/a PQ Clothing Outlet (In Business Rescue) v C:SARS (High Court, Gauteng Division, Case No. 2020/35790), the court was required to consider this question.