A Student's Approach to Taxation In SA 2026 Ed

This volume contains tax legislation dealt with in courses covering the content required for the Initial Assessment of Competence (IAC) of SAICA.

It is updated annually with the latest legislation. The following Acts are included: the consolidated Income Tax Act, 58 of 1962, Value Added Tax Act, 89 of 1991, Estate Duty Act, 45 of 1955, Transfer Duty Act, 40 of 1949, relevant sections of the Securities Transfer Tax Act, 25 of 2007, relevant sections of the Tax Administration Act, 28 of 2011.

This book combines in one volume the provisions of the Income Tax Act 58 of 1962, as it applies to individuals and businesses for a particular year of assessment.

It is written for undergraduate students using simple language and the relevant sections of the Act are provided and explained in simple terms, and can also be used by general accountants and tax advisors. The title is updated annually with the latest legislative amendments to the end of November each year.

Table of Contents:

Chapter 1 - Introduction

Chapter 2 - Value-added Tax (VAT)

Chapter 3 - Gross income

Chapter 4 - Special inclusions

Chapter 5 - The taxation of non-residents

Chapter 6 - Income exempt from tax

Chaopter 7 - General deduction formula

Chapter 8 - Specific deductions and allowances

Chapter 9 - Expenditure and allowances relating to capital assets

Chapter 10 - Capital gains tax

Chapter 11 - Taxation of companies and company distributions

Chapter 12 - Prepaid taxes

Chapter 13 - Individuals

Chapter 14 - Employment benefits

Chapter 15 - Lump sum benefits

Chapter 16 - Taxation of trusts

Chapter 17 - Donations tax

Chapter 18 - Estate duty

Chapter 19 - Administrative procedures

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