Think twice before you simply accept those Ts & Cs
In recent years the internet has transformed the commercial landscape and redefined the way we do business. The movement away from traditional paper and ink has led to the electronification of everything, including the conclusion of contracts. Online shopping, signing up for Uber, creating a Facebook profile – all subject to the familiar “I have read […]
Tax costs of barter transactions
Barter transactions are commonplace in today’s commercial environment. Parties exchange goods or services without a cash transaction underpinning it. The question is, “What happens when I sell the asset in future? Do I have a tax cost for it?” Paragraph 20(1)(a) of the Eighth Schedule to the Income Tax Act refers to ‘the expenditure actually incurred in respect of the cost […]