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2014 Basic Mining Tax Training
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2014/11/26
When: 26 November 2014
From 08:30 until 16:30(registration from 08:00)
Where: KPMG Johannesburg Crescent Auditorium
85 Empire Road
Parktown, Gauteng 
South Africa
Contact: Silvia Motaung


Online registration is closed.
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Overview:

  • Are you looking for an understanding of basic mining tax principles?
  • Would you like to be able to complete a mining tax return?
  • Do you want to feel confident in being able to prepare your CAPEX schedules?
  • Are you unsure of the different tax forms required for mineral royalties?
  • Do you want to be able to reconcile your mineral royalty calculation?
If your answer is YES to any of the above, then you should attend our KPMG Basic Mining Tax Training and learn about these topics!

Download the agenda

Course Content:

Topics that will be covered include:


  • Basics of Mining Tax including:
    • Definition of 'mining' and ‘mining operations' as per sec 1 of The Income Tax Act
    • Mining vs non-mining/manufacturing
    • S36(11) - Definitions of 'capital expenditure', 'capital
    • Expenditure incurred', 'expenditure on shaft sinking' and 'expenditure
    • S15(a) & S36(7), (10) - capital expenditure and the capital ring-fencing provisions
    • S15(b) - prospecting expenditure
    • Disposal of mining assets, including:
      • Para(j) of the 'gross income' definition
      • CGT
      • The requirement for an effective valuation
    • Mine Closure & Rehabilitation Trusts
      • Sec 11(a)
      • Sec 37A and 37B
      • Sec 23L limitations
      • Insurance policies and alternative investment products
    • Specific Gold-mining tax issues
  • How to practically complete a mining tax return including manner of disclosing capex and prospecting expenditure
  • Basics of Mineral Royalty Tax and how to complete various MPR forms.
  • Diesel Rebates – who is entitled to claim and who not?
  • Overview of some basic VAT issues related to prospecting and mining.

 CPD:

This event and successful completion of the online assessment will secure 8 hours verifiable output CPD points/units.. 

Including the following professional bodies: (AICA, CIMA, SAIPA, SAIBA, ACCA, FPI, CSSA, LSSA, FISA, ICBA, IAC, AAT)


Event Investment:

Cost: R2 500 (incl. VAT)

Payments & Cancellations

All payments must be made by EFT or by credit card, at least 3 working days before commencement of an event.

  • Proof of payment will be requested at registration, if payment at that point in time has not been reflected on SAIT's bank account.
  • Only written notice of cancellation will be recognised.
  • Conditions:
    • If the cancellation occurs more than 30 days prior to the event no cancellation fee will be charged.
    • If the cancellation occurs less than 30 but more than 10 days prior to the event a 50% cancellation fee will apply.
    • If the cancellation occurs less than 10 days prior to the event a 100% cancellation fee will apply.
  • Delegates who book and fail to attend will be liable for the full event fee.
  • SAIT's liability in the case of an event being cancelled will be limited to a refund or credit of the event fee.
 


 

WHY REGISTER WITH SAIT?

Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.

MINIMUM REQUIREMENTS TO REGISTER

The Act requires that a minimum academic and practical requirments be set to register with a controlling body. Click here for the minimum requirements of SAIT.

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