SHORT DESCRIPTION

A summary of the most recent and relevant tax laws. May 2020.

WHAT YOU WILL LEARN

After attending this webinar you will be able to:

• Advise clients as to the latest tax amendments.
• Train your staff to prepare tax returns in line with the latest amendments.
• Issue a newsletter to your clients informing them about relevant tax law, rulings, notes, judgments, and developments in tax law.
• Develop new tax structures for clients.
• Adjust your tax working procedures.

DESCRIPTION

Join Professor Jackie Arendse for the Monthly Tax Update 2020 where she will present an overview of the most important and interesting budgetary proposals that will impact individuals, households and businesses in the year to come. Being prepared for the intended and upcoming changes means being an efficient and informed tax professional who can guide clients in the right direction in the ever-changing tax environment.
The webinars are presented in conjunction with SAIT and The Tax Faculty and presents you with a recording of an expert presenter. Join us to have your questions answered!

PRICE

The following pricing apply:

• Adhoc: R475.00
• Subscription: Included for free in Accountant in Practice plus Tax package.

CONTENT

Topic 1 – COVID-19 Tax Amendments – Update

• 12 May 2020 – Loan Guarantee scheme opens Questions and Answers for the COVID-19 Loan Guarantee scheme
• 8 May 2020 – ITAC VAT Rebate 412.11 List of CRITICAL MEDICAL SUPPLIES re COVID-19 (Version 3 – 6 May 2020) AND Update on 412.11 and 621.08
• 7 May 2020 – Request for Duty Payment Relief
• 6 May 2020 – Updated list of CRITICAL MEDICAL SUPPLIES AND SARS VAT 412.11 Mapping of ESSENTIAL GOODS re COVID-19 – 6 May 2020
• Rivised Covid-19 Draft Tax Bills and Draft rule amendments released 1 May 2020.
• Amended ETI formula
• SDL Holdiay
• Deferral of Carbon Tax payments
• Special dispensation for COVID-19 trusts
• Enhanced s18A deduction for donations to the Solidarity Fund
• Vat Refunds
• How to apply for waiving of penalties for tax debt
• Normal debt queries
• Payment arrangement in the TAA
• Penalty provisions in the TAA
• Remittance in exceptional circumstances (s218)

Topic 2 – Recent Judgment

• SIP Project Managers (Pty) Ltd v CSARS [2020] ZAPGGHC (case no. 11521/2020)
  Tax Administration Act s 179
  Liability of third party appointed to satisfy tax debts
  Rule 3(2)(b)(ii) of the Rules for Electronic Communications
  Background and findings

Topic 3 – Recent SARS Documents

• Updated process for tax directives
  • eFiling enhancement
  • Harship directives
• Interest rates –  Table 3
• Binding private rulings
  • BPR341 – 30 April 2020 – Distribution of a bank account as dividend in specie
  • BPR342 – 30 April 2020 – Donation by a resident to a foreign trust of property received from another foreign trust
  • BPR343 – 14 May 2020 – Donations tax implications subscribing for shares at a discount

Topic 4 – Position Paper On Crypto Assets

Intergovernmental Fintech Working Group’s Position Paper on Crypto Assets
Purpose of the position paper and the recommendations made.

Topic 5 – 2020 Filing Season Heads-Up

SARS Commissioner Media conference notice and Deadlines.REQUIREMENTS

1. There are no preconditions for this course.
2. Moderate level.
3. Recorded webinar made available on a specified date.

PRESENTER

PROF JACKIE ARENDSE

PhD MTP(SA) Chartered Accountant (SA)

After completing her training at Deloitte and qualifying as a CA (SA), Jackie was Group Financial Accountant for a top-100 listed company before moving to academia where she has authored, lectured and researched on all aspects of tax for more than 20 years.
Jackie has presented tax seminars and webinars to tax practitioners and businesses around the country for many years and has authored numerous books, articles and publications in the field of taxation including Silke on South African Income Tax. She is the managing author of Silke on Tax Administration, published by LexisNexis and updated annually.
She is involved in an exciting new collaboration with The Tax Faculty to digitise tax training materials.

ADDITIONAL MATERIAL

By attending this webinar, you will be provided with:   

• Summarised slide presentation.  
• Reference documents and / or course material where available. 
• Access to a technical knowledge base.
• Recorded webinar that includes an expert presenter and participant interaction.