To submit or not to submit
The 2015 tax season (March 2014 to February 2015) opens on 1 July 2015 and this raises the annual question of which individuals are required to submit an IT12 annual tax return. As per Government Gazette 38874 dated 12 June…
Read moreSubordinated Debt Interest Deduction
From 1 April 2014, interest incurred on subordinated debt is no longer tax deductible. Section 8F of the Income Tax Act 58 of 1962 (“the Act”) is an anti-avoidance provision which deems the interest to be a dividend in specie and effectively…
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