The objective of the authors and publishers of Silke: SA Income Tax is to provide a book that simplifies
the understanding and application of tax legislation in a South African context for both students
and general practitioners.
This is the 25th edition of the book. This edition is up to date with the amendments that were issued in
Bill format or that were promulgated during 2022. As far as income tax is concerned, most of the
amendments apply to the 2022 year of assessment, that is, years of assessment ending on 28 February
2023 for persons other than companies, and financial years ending during the period of
12 months ending on 31 March 2023 for companies. Nevertheless, some amendments may have
other effective dates.
In this edition we again attempt to assist the students preparing for the qualifying examination of
chartered accountants. All the discussions in the book that fall outside the 2024 syllabus of the Initial
Test of Competence (ITC) are shaded in the headings of the relevant paragraphs. We have also
included a new chapter, chapter 35, that is aligned with the tax morality, strategy and risk management
competencies of the SAICA 2025 Competency Framework. Students preparing for the Tax
Professional qualification should, however, still include the shaded sections in their preparation.
This edition is, again, a collaborative effort by several authors and co-workers. The task of producing
a book of this nature so early is made so much more difficult by the fact that the amending legislation
is, regrettably, not only becoming increasingly complex, but is promulgated so late in the year.
We appreciate any suggestions that you may offer for improvement, since we continue to strive
to produce a work that will be useful to general practitioners and students without sacrificing accuracy
or quality.
Madeleine Stiglingh
Alta Koekemoer
Linda van Heerden
Jolani Wilcocks
Pieter van der Zwan
January 2023
Author(s): Madeleine Stiglingh
Publisher: LexisNexis
Year: 2023
Language: English
City: Johannesburg
Tags: Silke Tax Law
Preface .............................................................................................................................. v
1 General principles of taxation ...........................................................................................1
2 Taxation in South Africa .................................................................................................11
3 Gross income ........................................................................................................25
4 Specific inclusions in gross income................................................................... 59
5 Exempt income .................................................................................................................... 77
6 General deductions.............................................................................................................. 123
7 Natural persons .................................................................................................................... 149
8 Employment benefits............................................................................................................ 195
9 Retirement benefits .............................................................................................................. 249
10 Employees’ tax ..................................................................................................................... 281
11 Provisional tax ...................................................................................................................... 321
12 Special deductions and assessed losses ........................................................................... 339
13 Capital allowances and recoupments ................................................................................. 383
14 Trading stock ....................................................................................................................... 495
15 Foreign exchange ................................................................................................................ 517
16 Investment and funding instruments.................................................................................... 551
17 Capital gains tax (CGT)........................................................................................................ 601
18 Partnerships ......................................................................................................................... 697
19 Companies and dividends tax ............................................................................................. 715
20 Companies: Changes in ownership and reorganisations.................................................... 761
21 Cross-border transactions ................................................................................................... 821
22 Farming operations .............................................................................................................. 899
23 Turnover tax system ............................................................................................................ 933
24 Trusts.................................................................................................................................... 941
25 Insolvent natural persons ..................................................................................................... 969
26 Donations tax ....................................................................................................................... 977
27 The deceased and deceased estate ................................................................................... 1001
28 Transfer duty ........................................................................................................................ 1045
29 Securities transfer tax........................................................................................................... 1053
30 Customs and excise duty..................................................................................................... 1059
31 Value-added tax (VAT) ......................................................................................................... 1065
32 Tax avoidance ...................................................................................................................... 1157
33 Tax administration ................................................................................................................ 1179
34 COVID-19 tax relief measures ............................................................................................. 1235
35 Tax morality, strategy and risk management....................................................................... 1241
Appendix A: Tax monetary thresholds ......................................................................................... 1249
Appendix B: Rates of tax and other information .......................................................................... 1254
Appendix C: Travel allowance ..................................................................................................... 1257
Appendix D: Expectation of life and present value tables........................................................... 1257
Appendix E: Write-off periods acceptable to SARS .................................................................... 1260
Table of cases .............................................................................................................................. 1263
Special court cases ...................................................................................................................... 1267
Table of provisions ....................................................................................................................... 1269
Subject index................................................................................................................................ 1277
