Taxpayers and tax practitioners are reminded that the 'window of opportunity' to dispose of a residence from a company or trust free of transfer duty, capital gains tax, secondary tax on companies and dividends tax in terms of paragraph 51A of the Eighth Schedule ends on 31 December 2010.
SARS issued an updated guide dealing with such disposals. Click here to download the updated guide.
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.