Income tax and VAT consequences for a lessee

Background Taxpayers may not be aware of the differences between an instalment sale agreement and finance lease, with many Taxpayers assuming both contracts are the same since both require regular repayments. Since they are different agreements, both have different regulations and norms when it comes to tax deductions and VAT. A finance lease arises when […]

The Taxation of Cryptocurrency : What You Need To Know

Summary Many South Africans have jumped on the cryptocurrency bandwagon in recent years, with some even making their millions in the digital realm. In light of these advances in digital currency technology, SARS has announced that cryptocurrency will be subject to normal income tax rules. SARS regards cryptocurrency as an intangible asset, and any income […]