The high court has overruled the tax court in a case involving the disposal of property, finding the revenue authority failed to prove its case and imposed a fine under the wrong section of the tax act
A recent dispute between the South African Revenue Service and Lance Dickson Construction shows it’s worthwhile to play open cards about your tax affairs — even if Sars doesn’t immediately recognise that it has been given a peek at the hand a taxpayer is holding.
In September 2016, LDC sold a property to its construction arm, Kwali Mark Construction , for R25.2m. The sale was based on the calculation that the property, once subdivided, would consist of 72 erven, each valued at R350,000. ..A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.
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