Section 24C of the Income Tax Act, No. 58 of 1962 (“Act”) provides for an allowance in relation to moneys received upfront in terms of a contract where expenditure will be incurred at a future stage. More specifically, the section applies if the income of any taxpayer in any year of assessment includes or consists

Tax Consequences Globalisation has created wonderful opportunities for businesses to expand their reach across the borders of various jurisdictions and increase their market share significantly. In addition, it has enabled many investors and companies to invest in operations beyond the jurisdictions in which they reside or are registered. Markets are no longer compartmentalised based on

Why should you and your business care about the carbon tax? There is no doubt that South Africa, along with the rest of the world, is at the start of a long and inevitable economic transformation where business must take place within the context of constrained resources. Similarly, the legal and governance environment within which