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 | 2020 Budget News

Lees in Afrikaans    |    Inguqulelo ngesiXhosa

Minister of Finance, Mr Tito Mboweni, delivered the National Treasury’s budget for 2020/2021 this afternoon. The following amendments stand out:

  • Above inflation adjustment to personal income tax brackets. (This was not done last year)
  • Transfer Duty exemption increased to R1 million.
  • Inflationary adjustment to transfer duty rates.
  • Allowable increase to tax free savings increased from R33,000 to R36,000.
  • Sunset clauses in respect of certain corporate incentives.
  • Limitation placed on use of assessed losses.
  • General fuel levy increases by 16 cents per litre on 1 April 2020.
  • Increased excise duties on tobacco and alcohol.
  • Plastic bag levy increases to 25 cents per bag.

Transfer Duty rates effective from 1 March 2020 are as follows:

Value of property Rate
Up to R 1 000 000 0%
R1 000 001 – R1 375 000 3% of the value above R1 000 000
R1 375 001 – R1 925 000 R11 250 + 6% of the value above R1 375 000
R1 925 001 – R2 475 000 R44 250 + 8% of the value above R1 925 000
R2 475 001 – R11 000 000 R88 250 +11% of the value above R2 475 000
R11 000 001 and above R1 026 000 + 13% of the value exceeding
R11 000 000