Administering of an estate

Posted on 2 of February, 2017 by in Estate

The administering of a deceased estate is regulated by the Administration of Estates Act No 66 of 1965 (as amended) and divided according to a valid will or the Intestate Succession Act No 81 of 1987 (as amended) or a combination of both acts. Various other acts and regulations may, however, also be applicable, like […]

Assets held as security by SARS when a company is being liquidated

Posted on 5 of January, 2017 by in VAT

The KwaZulu-Natal High Court previously granted an application brought by Van der Merwe and others (acting as liquidators) requiring the Commissioner for the South African Revenue Service to release certain assets held by him under his control in a customs warehouse. The assets in question were being held by the Commissioner as security for payment […]

Selling of Assets by individuals: When will it attract CGT?

Posted on 18 of September, 2015 by in Tax

Individuals who are residents for the purpose of the CGT Act (Capital Gains Tax), are liable for CGT on the disposal of South African and foreign assets. In addition, non-residents who dispose of immovable property or other assets of a permanent nature in South Africa are liable for CGT as well. As a disposal is […]