Tax Court on the capital gains tax rules pertaining to the reduction of proceeds after sale

Extracted by Pieter Esterhuizen,CA(SA) TEP, from an article first publised on and then posted by Jerome Brink (CFH) on SAIT newsletter on 20 March 2017


It is a general principle of South African income tax that a taxpayer is taxed on the receipt or accrual of an amount. However, it is often necessary and equitable to take into account certain events arising subsequent to the accrual of an amount in pursuance of the disposal of an asset for capital gains tax (CGT) purposes.

Read more: Tax Court on the capital gains tax rules pertaining to the reduction of proceeds after sale

Threshold registration requirement for the skills development levy


Extracted and slightly adaptedby Peter Stewart, CA(SA)from CMV, published 21 October 2016


It seems like there is recently an increased level of audits being conducted by the South African Revenue Service in relation to taxpayers’ obligations in terms of the Skills Development Levies Act, 9 of 1999 (SDL Act). The focus appears to be specifically on non-compliant taxpayers who fail to register as required in terms of section 5 of the SDL Act, and thus for these employers to pay the requisite levy over to SARS.

Read more: Threshold registration requirement for the skills development levy

Direct offshore investment and tax: Effect of Currency gains and losses for CGT purposes

Adapted and corrected by Pieter Esterhuizen, CA(SA) TEP RA from an article by Tertius Troost,  CA(SA), originally published on Moneyweb on 30 May 2016


The rand's volatility that South Africa is used to these days and the market volatility worldwide, have the effect that we as investors should have a relook at what the effect of this is on us for Capital Gains Tax (CGT) purposes.

Read more: Direct offshore investment and tax: Effect of Currency gains and losses for CGT purposes

Filing season 2016: No income, no tax return?

Extracted by Peter Stewart, CA(SA) from SAICA’s website, published 22 June 2016


You could still be required to submit a tax return even if you didn’t earn any income.


Tax season is on us, typically starting on the 1st of July every year. So brace yourself for the media flurry and the many advertisements by the South African Reserve Services (SARS) encouraging you to submit your annual income tax return.

Read more: Filing season 2016: No income, no tax return?

Who are to be treated as accountholders under CRS rules?

Extracted from and comments by Pieter Esterhuizen from an article on STEP-website, first published on 9 June, 2016


The OECD has confirmed that a protector of a trust classed as a reporting financial institution under the Common Reporting Standard must always be treated as an accountholder, and thus subject to the CRS' regime of automatic information exchange between jurisdictions.

Read more: Who are to be treated as accountholders under CRS rules?




Kruger Human
Marakalalo Safaris Trust
On behalf of Marakalalo Safaris Trust, we want to thank LUMENROCK for the outstanding advice and services rendered to the business. We value the honesty, professionalism and very high ethical standards of the company, directors and staff. It is a pleasure and honour to be associated and to do business with LUMENROCK.
Franco van der Westhuizen
Thanks a million - you guys are legends!
Hugo de Wet
Business Manager: Gijima
I have known Pieter Esterhuizen, the CEO of LUMENROCK, for more than 10 years. In this time he has been very involved in my business affairs. Pieter is always available to assist me whenever I need his advice. LUMENROCK is a trusted advisor. I trust and value their inputs when it comes to tax structuring or general business advice.



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