GA Mac Lachlan Inc | Registered Chartered Accountants and Auditor

On 27 September 2019, just over a year since delivering judgement in another matter with very similar facts, the Supreme Court of Appeal in CSARS v Atlas Copco South Africa (Pty) Ltd (834/2018) [2019] ZASCA 124 gave a judgement on the valuation of trading...

Certain lease agreements regarding land and property stipulate that the lessee, as part of his/her obligation under the agreement, is expected to make improvements to the leased asset.
This doesn’t appear to be very beneficial for the lessee, as the asset that is improved on his/her expense, does not belong to them. Thus, the Income Tax Act No. 58 of 1962 provides for specific provisions relating to leasehold improvements....

Farming in South Africa is like second nature to most South Africans, but the tax implications on farming operations seem to raise some questions when determining a taxpayer’s taxable income. The taxation of farming operations is subject to a unique...

South Africa has a residence-based tax system, which means residents are taxed on their worldwide income, regardless of where that income was earned.
South African tax residents living overseas and earning remuneration in respect of services rendered outside of South Africa are exempt from tax in South Africa, provided that the individual is outside of South Africa for a period or periods exceeding...