2021 News • 2021-11-26
The consequences of not completing the “yes/no” questions accurately on your tax return
The Respondent is Spur Group (Pty) Ltd (Spur). The Commissioner for the South African Revenue Service (SARS) approached the Supreme Court of Appeal of South Africa (SCA)1 seeking to appeal the judgment and order of the Western Cape Division of the High Court, Cape Town.
In 2004, Spur implemented a share incentive scheme where their eligible employees would have the opportunity to participate in said scheme. In order to implement and regulate this scheme, Spur established a discretionary trust. Subsequently, Spur concluded a contribution agreement with the trust and an amount of about R48 million was contributed to the trust.