Graeme Palmer

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

Profile

Graeme Palmer is a director in the commercial department of Garlicke & Bousfield.
Taxpayers retain the right to privacy - ConCourt

The Tax Administration Act requires Sars officials to preserve the secrecy of taxpayer information. In the Public Protector v CSARS, the Constitutional Court had to decide whether the Public Protector's subpoena powers trumped those of Sars obligations to keep taxpayers' information secret...

By Graeme Palmer 25 Jan 2021

Selling your business as a going concern

Usually when a business is sold, it is a taxable supply that is subject to value added tax (VAT) at the standard rate of 15%. There is, however, a provision in the Value Added Tax Act 89 of 1991 (VAT Act), section 11(1)(e), which allows for the sale of a business at the rate of 0%, provided certain requirements are met...

By Graeme Palmer 25 Nov 2020

Challenging Sars' decision to audit

The South African Revenue Service (Sars) is empowered by section 40 of the Tax Administration Act, 2011 (TAA) to select a taxpayer for audit...

By Graeme Palmer 26 Oct 2020

Why VDP applications really must be 'voluntary'

Voluntary Disclosure Programme (VDP) applications have been a permanent part of our law since 2012. The essence of a VDP application is that a taxpayer is incentivised to disclose to Sars a tax default by being granted some relief from the consequences of their default...

By Graeme Palmer 18 Sep 2020

Tax judgments are no ordinary judgments

While a tax judgment may have all the effects of a judgment, it is not a judgment in the ordinary sense, but rather an enforcement mechanism for the recovery of tax...

By Graeme Palmer 20 Jul 2020

Can Sars deduct tax debts from your bank account?

Section 179 of the Tax Administration Act, 2011 allows the South African Revenue Service (Sars) to issue a notice to a person who holds or owes money, including a pension, salary, wage or other remuneration, for or to a taxpayer, requiring the person to pay the money to Sars in satisfaction of the taxpayer's outstanding tax debt.

By Graeme Palmer 22 Jun 2020

TERS payments are exempt from PAYE

Businesses registered with the Unemployment Insurance Fund (UIF) that are suffering financial distress as a direct result of the Covid-19 pandemic qualify to receive financial relief from the Temporary Employee / Employer Relief Scheme...

By Graeme Palmer 25 May 2020

Review of excessive debt financing rules

Tax is an important factor when a business decides whether to use debt or equity financing...

By Graeme Palmer 25 Mar 2020

Lessons from Al Capone on taxpayers' rights to confidentiality

Al Capone, the infamous American mobster, was convicted of tax evasion as it was easier for the US Attorney General to secure a conviction for tax offences than comply with the evidentiary requirements of his other crimes. But what right does the South African taxpayer have for the information disclosed to Sars to be kept confidential?

By Graeme Palmer 24 Feb 2020

The (tax) benefit of keeping employees incentivised

Are expenses incurred in maintaining a content and motivated workforce part of the costs of a taxpayer's income-producing operations...?

By Graeme Palmer 20 Jan 2020

Donations tax - determining the threshold

Subject to any applicable exemption, donations tax is payable on the value of any property disposed of under any donation...

By Graeme Palmer 26 Nov 2019

Expat tax exemptions: No double taxation

On 1 March 2020, an amendment to the foreign employment income exemption comes into operation. There have been misperceptions about those expatriates that will be affected by this change to the tax law...

By Graeme Palmer 18 Oct 2019

When do consultancy services become a taxable fringe benefit?

The Supreme Court of Appeal recently had to decide whether tax consultants contracted by BMW South Africa to facilitate the tax compliance of the company's expatriate employees constituted a taxable fringe benefit for the employee...

By Graeme Palmer 23 Sep 2019

Non-profit companies: get your PBO application right

There are tax benefits for registering a non-profit organisation as a public benefit organisation (PBO) with the South African Revenue Service (SARS), whether such organisation is a non-profit company, trust or association...

By Graeme Palmer 28 Jun 2019

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

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