PKF Cape Town

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2015 - 20 Mar 2018

Will SARS allow you to deduct your Company/Close Corporation’s assessed loss?

Under normal circumstances SARS will allow a taxpayer to carry forward the previous tax year’s assessed loss and set it off against the current tax year’s taxable income. However, there are certain circumstances under which SARS will not allow a taxpayer to carry forward the previous year’s assessed loss and the assessed loss will be lost for set off against future taxable income as well.

2018 - 13 Mar 2018

Alexa Muller

PKF Cape Town is proud to introduce that we have appointed an inhouse tax specialist to assist our clients with their taxation needs.

2018 - 05 Mar 2018

Tell us what it costs you to comply with the tax system in South Africa

SAICA, in a joint initiative with the Financial Intelligence Department of the University of South Africa (UNISA), are conducting a survey of small, medium and large businesses as well as of individuals to evaluate and compare the costs/benefits of compliance with the tax system on them as taxpayers.

2018 - 21 Feb 2018

2018 Budget Speech Highlights and 2018/2019 PKF Tax Guide

Finance Minister Malusi Gigaba delivered his maiden 2018 budget speech on 21 February 2018. The highlights of the tax related budget proposals announced by the Minister are as follows:

2018 - 29 Jan 2018

Avoid Interest and Penalties! Submit your Provisional Tax Return by 28 February 2018!

A provisional taxpayer must, during every period submit an estimate of the total taxable income which will be derived in that year of assessment. Provisional tax payments must be made by natural persons on or before 28 February and 31 August each year. The South African Revenue Service ("SARS") also allows for a third "voluntary top up" or "additional" provisional payment, which must be paid on or before 28 September.

2018 - 23 Jan 2018

PKF in numbers

In South Africa PKF is the 8th largest Auditing and Accounting Network. PKF Cape Town (formerly known as Rademeyer Wesson), was founded in 1994. We are situated in Cape Town and mainly operate in the Western Cape. We provide the following audit services to clients of all sizes:

2018 - 23 Jan 2018

Summary of amendments to IFRS for SMEs

The International Accounting Standards Board (IASB) has published amendments to its 'International Financial Reporting Standard for Small and Medium-sized Entities' (IFRS for SMEs). The amendments are the result of the first comprehensive review of that standard, which was originally issued in 2009. The amendments are effective for annual periods beginning on or after 1 January 2017 with earlier application permitted, therefore these amendments are applicable to all clients with a 31 December 2017 year-end, that are applying IFRS for SMEs. Most of the changes are rather minor. Please contact your audit partner for more information in this regard.

2018 - 23 Jan 2018

Belangrike Belasting Datums

Dit wil voorkom asof daar al hoe meer deur die SAID gefokus word op die nakoming van alle belastingvereistes (dit sluit in administratiewe en berekeningsvereistes). Ons beklemtoon dus weer die onderstaande belangrike datums om te verseker dat daar geen onsekerheid rakende hierdie datums bestaan nie. Nie-nakoming van hierdie vereistes kan lei tot die oplê van boetes, maar dit sluit ook ander potensiële implikasies in. Ander implikasies wat as gevolg van die nie-nakoming ontstaan is die feit dat belastingbetalers nie in staat sal wees om aansoek te doen vir 'n belastingklaringsertifikaat nie, of dat die SAID nie 'n versoek, vir die uitstel van die betaling van 'n beweerde belastingskuld, sal toestaan terwyl die belastingbetaling in 'n geskil met die SAID betrokke is nie.

2018 - 23 Jan 2018

Securities Transfer Tax

Levied at 0.25% of the value of shares transferred (transferred includes the buying back, redemption or cancellation of shares). Securities transfer tax ("STT") is a tax often neglected and forgotten. Introduced in 2008, the tax is levied on the transfer of shares held in South African companies or the transfer of membership interests held by South African close corporations. The following share transactions do not constitute a transfer for purposes of the Securities Transfer Tax Act:

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