Graeme Palmer

Director, Commercial Department, Garlicke & Bousfield
Location:South Africa


Graeme Palmer is a director in the commercial department of Garlicke & Bousfield.
Residential estate income: What's tax exempt and what isn't?

The levy income of a body corporate, share block or an association of persons, such as a home owners association (residential estate), is exempt from income tax. However, not all income received by a residential estate is exempt from tax, only levy income...

By Graeme Palmer 23 Apr 2019

Deemed receipt of income for property developers

In the recent case of Milnerton Estates Limited v CSARS, the Supreme Court of Appeal had to decide whether to include the purchase price in a property developer's 2013 year of assessment...

By Graeme Palmer 25 Feb 2019

Tax invoice corrections and the Admin Laws Amendment Bill

To err is human and mistakes are sometimes made on tax invoices. The draft Administration Laws Amendment Bill, 2018 proposes the inclusion of a new section 20(1B) dealing with errors to tax invoices...

By Graeme Palmer 23 Oct 2018

Cessation of temporary letting of residential property by developers

SARS released a Binding General Ruling on 25 July 2018 on the temporary letting of residential dwellings by developers, principally to provide clarity of the cessation of section 18B of the Value Added Tax Act, 1991...

By Graeme Palmer 24 Aug 2018

When does prescription start to run against Sars?

There are periods of limitations for issuing assessments which are set out in section 99 of the Tax Administration Act 28 of 2011 ("TAA")...

By Graeme Palmer 27 Jun 2018

How do you pay tax on cryptocurrencies?

Cryptocurrencies are completely unregulated, and although not regarded as legal tender, there are no laws preventing them being used as payment...

By Graeme Palmer 30 Oct 2017

Which business start-up costs are tax deductible?

SARS has provided further guidance on when pre-trade expenditure may be deducted for the purpose of determining taxable income...

By Graeme Palmer 27 Sep 2017

Taxing income on the sale of properties

When does income accrue to a taxpayer from the sale of immovable properties in the course of its trade?

By Graeme Palmer 27 Jun 2017

When is tax payable on sale of property?

The Tax Court in M v the Commissioner for SARS recently addressed the question of when does income accrue to a taxpayer from the sale of immovable properties in the course of its trade...

By Graeme Palmer 27 Jun 2017

U-turn on withholding tax on foreign service fees

Tax authorities have over the years introduced various withholding taxes to make it easier to collect tax from foreigners...

By Graeme Palmer 22 Aug 2016

New draft rules for foreign employment income tax exemption

SARS recently issued a new draft Interpretation Note 16 on the requirements to qualify for a tax exemption on foreign employment income...

By Graeme Palmer 24 Jun 2016

Taxing foreign sport players, entertainers

Sections of the Income Tax Act provides for the taxation of foreign sportspersons, such as the professional athletes competing in races like the up-coming Comrades...

By Graeme Palmer 24 May 2016

Beware the interest free shareholder loan

Companies often lend funds to their shareholders, for a variety of reasons, and are often referred to as debit loans. However, if a loan is made to a shareholder at a low interest rate or interest free, it may trigger dividends tax...

By Graeme Palmer 1 Mar 2016

Draft Carbon Tax Bill up for comment

The Treasury has published the Draft Carbon Tax Bill for public comment by 15 December 2015...

By Graeme Palmer 9 Dec 2015

SARS ruling on payment of shareholder's loan from proceeds of a new share issue

In the recent Binding Private Ruling 208, the South African Revenue Service (SARS) considered the tax consequences of a repayment of a shareholder's loan from the proceeds of a new share issue by a company...

By Graeme Palmer 11 Nov 2015

Understanding tax debt prescription

A tax debt is defined in the Tax Administration Act, 2011 (the TAA) as an amount of tax due or payable in terms of a tax Act and, like any other debt, can prescribe. Once a tax debt prescribes, the South African Revenue Service (SARS) can no longer recover it...

By Graeme Palmer 4 Sep 2015

Provisions in Act can defer payment of CGT

If a person disposes of an asset during the current tax year, but only becomes entitled to payment in future tax years, the Income Tax Act, 1962 provides that the amount is deemed to have accrued to that person during the current tax year...

By Graeme Palmer 25 May 2015

Unreasonable delays can prejudice taxpayers

In a recent judgment, Ackermans Limited v Commissioner for the South African Revenue Service (SARS), the Gauteng High Court was asked to review and set aside a SARS decision to raise additional assessments...

By Graeme Palmer 19 Mar 2015

Tax benefits of public-private partnerships

It is becoming commonplace for government to enter into arrangements with a private party where the government provides land for the construction or improvements to buildings by the private party without parting with ownership of the land...

By Graeme Palmer 13 Mar 2015

SCA clarifies relationship between VAT vendor and SARS

The basic principle of VAT is that a vendor must account to the South African Revenue Service (SARS) for output tax on taxable supplies made after deducting any input tax incurred by him...

By Graeme Palmer 9 Mar 2015

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