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Better late, or better never? Government wants to tighten rules on taxpayers incurring losses

Expenditure and losses incurred by individual taxpayers are generally deductible against their income under section 11(a) of the Income Tax Act 58 of 1962 (ITA), read with section 23(g), provided certain requirements are met. In other words, tax policy allows such expenses when they are, amongst other things, considered to produce income and are incurred pursuant to a trade. A taxpayer could also theoretically find themselves in a loss-making position in respect of a trade for more than one year.

JSE Listings Requirements: Simplification Project – proposed amendments to the valuation report provisions

In September 2023, as part of its efforts to create an enabling listing environment, the Johannesburg Stock Exchange (JSE) commenced with a project to simplify the current JSE Listings Requirements (Requirements). The aim of the project is to allow for better understanding and application by issuers, sponsors and investors by (i) using plain language to record concise regulatory objectives; (ii) reducing the volume of the Requirements; and (iii) assessing the regulatory relevance of each provision and cutting red tape where possible.

Cliffe Dekker Hofmeyr solidifies its leadership in M&A at the Ansarada DealMakers Annual Awards

Leading corporate and commercial law firm Cliffe Dekker Hofmeyr (CDH) has once again reinforced its position as a top M&A legal adviser in South Africa at the 2025 Ansarada DealMakers Annual Awards, held on 18 February 2025 at the Sandton Convention Centre.

Setting aside a public procurement decision on the grounds that the award exceeded the available budget

On 27 December 2024, the Supreme Court of Appeal (SCA) delivered a judgment in Zeal Health Innovations (Pty) Ltd v Minister of Defence and Military Veterans and Another ZASCA 183, that adds to the body of public procurement law jurisprudence. This particular judgment is of interest due to the grounds of review that were raised and, to a lesser extent, the court’s treatment of the services rendered by the service provider.

The 2025 Code of Good Practice on Dismissal Guideline

Rising rates, rising resilience: Navigating the VAT rate increase

With another value-added tax (VAT) rate increase on the horizon, businesses are once again required to navigate both the legal complexities and the operational challenges that come with the change. In his Budget Speech on 12 March 2025, the Minister of Finance (Minister) announced a phased increase in the standard rate of VAT from 15% to 15,5%, set to take effect on 1 May 2025, and thereafter from 15,5% to 16%, effective from 1 April 2026. The upcoming increases build on the 2018 amendment that raised VAT from 14% to 15%.