Tax Happy Hour 5: Income Tax and VAT Legislation provides beneficial treatment to the bona fide farmer
Whilst this Tax Happy hour discussion will contain certain technical content, the discussion will primarily focus on tax in Agriculture - June 2024
1 CPD unit December 2, 2024 1 presenter
What will set you apart
By completing this course you will gain the following competencies
- Income Tax and Capital Gains Tax
- Ringfencing rules on livestock
- Special rules regarding trading stock and growing crops
- Capital expenditures – farming vs non-farming
- Sale of farms and residential accommodation
- Research and Development
- VAT
- Zero rating of certain goods – purchases and sales
- Denial of expenditures relating to housing
- Zero Rating of sales in terms of Land Deals
- VAT treatment of Hunting and accommodation income.
- PAYE
- Empowerment transactions for employees
- Fringe benefit tax including but not limited to housing, transport, bursaries.
Event breakdown
- Income Tax and Capital Gains Tax
- VAT
- PAYE
Category: TaxationType: CPD CourseCPD category: Taxation
Description
In this session we will deal with South African Income Tax and VAT Legislation provides beneficial treatment to the bona fide farmer including nursery operators. SARS published a Guide on the taxation of farming operations on 13 October 2023 to provide more clarity regarding the complex rules applicable to the farmer.
In the June Tax Happy Hour, we will discuss the Income Tax and VAT tax legislation affecting the full time and part-time farmer. The discussion will inter alia include the following:
- Income Tax and Capital Gains Tax
- Ringfencing rules on livestock
- Special rules regarding trading stock and growing crops
- Capital expenditures – farming vs non-farming
- Sale of farms and residential accommodation
- Research and Development
- VAT
- Zero rating of certain goods – purchases and sales
- Denial of expenditures relating to housing
- Zero Rating of sales in terms of Land Deals
- VAT treatment of Hunting and accommodation income.
- PAYE
- Empowerment transactions for employees
- Fringe benefit tax including but not limited to housing, transport, bursaries.
Presenters
Johan Heydenrych — Johan
You will earn a certificate
On successful completion you will receive a certificate for 1 CPD unit in Taxation.
Requirements
- Laptop, desktop, or mobile device with internet access
- Microsoft Edge, Google Chrome, Safari, or Firefox browser