The book contains detailed commentary and examples illustrating the existing and new tax law provisions. Our aim is to explain South African tax law in a simple and clear manner in order to save you time and help you understand both the existing and new tax law provisions easily.
Phillip Haupt’s knowledge of business and tax law, gained over a period of 41 years, is invaluable to the explanation of the tax law principles in the book.
The most notable tax law amendments for 2021 include changes to the following provisions:
- New tax rates, rebates and medical tax credits
- Controlled foreign company provisions
- Learnership agreements sunset clause
- Set off of assessed loss provisions
- Limitation of interest deduction provisions
- Acquisition of assets in exchange for shares once again amended extensively
- Corporate Rules amendments
- New income tax section addressing the right to receive an asset in consequence of services rendered or to be rendered
- New VAT section addressing temporary letting of residential property
- COVID relief amendments to the Disaster Management Tax Relief Act
- This edition includes many new summaries on the latest (2020 and 2021) tax cases.