Specialising in tax and exchange control, Johan spent time with PwC in the UK, the financial capital of the globe, and on his return spent 3 years with PwC Cape Town in the Corporate International Tax department before joining STBB as a candidate attorney in 2011. Johan practices within the Corporate Commercial department and has extensive commercial drafting experience with a specific focus on business acquisitions, going-concern transactions and advises on tax aspects of commercial and property-related transactions. Since 2015 Johan heads the Non-Resident practice within STBB. His expert services range from assisting foreign investors in remitting their proceeds from fixed property out of South Africa and drafting and regularising loan agreements through the SARB to obtaining Tax Directives and various types of Tax Clearance Certificates from SARS. As an admitted attorney, conveyancer and registered tax practitioner, Johan’s skill set makes him an invaluable asset in advising and assisting STBB’s diverse clients.

Newsflash | 2017 Budget News

Minister of Finance, Mr Pravin Gordon, delivered the National Treasury’s budget for 2017/2018 this afternoon. The following amendments stand out:

  • Super Tax Bracket (Individuals) – 45% on income above R1,500,000 p.a.
  • Trust Tax Rate increased to 45% (from 41%)
  • Increase to Effective rate of Capital Gains tax for Trusts / Super Tax Bracket
  • Dividends Tax increased to 20% (from 15%)
  • Withholding Tax for non-resident sellers of fixed property increased to 7.5%, 10% and 15% respectively (from 5%, 7.5% and 10%)
  • The value at which property is taxed at 0% is increased from R750 000 to R900 000.

A new bracket of “Super Tax” has been introduced on personal income that levies tax at 45% on income exceeding R1,500,000 per annum. This increases the effective rate on capital gains above this level to 18% (from 16.4%).

The increase in the Trust tax rate to 45% increases the effective rate of CGT for trusts to 36% (from 32.8%).

View the amended personal, transfer duty and CGT tables here. For more information contact your attorney at STBB.