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Join us for breakfast, where 4 of South Africa’s leading tax practitioners will analyse and unpack the significance of the new CSARS v Brummeria Renaissance SCA Judgment on interest-free loans, to show how both the public and SARS can avoid confusion and misapplication of this in practice.

A lot will be said about the new interest-free SCA judgment, and a lot of people will misapply the principles coming out of this judgment.

THE TRUTH IS THAT NOT ALL INTEREST-FREE LOANS
WILL CREATE A TAX PROBLEM.

Each case will have to be judged on its own facts and merits – taking into account the unique facts of the situation. 

Leading South African Tax Practitioners, Professor Henry Vorster, Professor and Doctor Emil Brincker, Arthur Schoeman and Daniel Erasmus, will carefully unpack the principles of this controversial new judgment.

Join us for this enlightening breakfast session and get clarification on some of these and other emerging issues:
How people will misapply these principles
Identifying the situations where interest-free loans will not create a tax problem
Those areas that should have been argued in the case
Practical solutions for dealing with a SARS audit on interest-free loans, and how to stop SARS from applying a new practice to past assessments
Tax and Life Rights

Tax on interest-free loans inter-company?

Tax on interest-free loans to Shareblocks?

If taxed on interest-free loans can you claim losses?

Is there a Prevailing Practice on interest-free loans?
Date : 10 October 2007  
Time : Breakfast starts at 8:00 AM
Venue : The Hilton, Sandton
Cost : R875-00 per delegate ex VAT
R997-50 per delegate incl VAT
Dietary : Please note that there is a R250-00 per delegate surcharge for Strictly Halaal or Strictly Kosher meals
BOOK FOR 5 DELEGATES
AND GET A 10% DISCOUNT
Cost : R3 937-50 per table of five ex VAT
R4 488-75 per table of five incl VAT

For enquiries contact Ryan Dube
Email ryan@frontfoot.co.za or call 011-880-4808

AGENDA
8:00 AM : Breakfast is served
8:30 AM :

Emil Brincker
A part-time professor at the Johannesburg University since 1999. Also the first attorney to appear in the Supreme Court of Appeal in Erf 3183/1 Ladysmith v CIR, Emil has authored and co-authored numerous books and articles, and has advised on billions of rands of structured finance transactions.

An analysis of the judgment referring to the historical treatment by SARS of interest free loans and differentiating between the section 7 situation, donations and the typical corporate interest-free loan.
9:15 AM :

Henry Vorster
Former chairman of the Tax Board of Appeals, current chairman of the Law Society’s Specialist Committee on Taxation and Exchange Control and Editor of Tax Board Decision Reports, and has acted as Judge in the High Court of South Africa (W.L.D). 

The history behind the life rights legislation, why the judgment as far as life rights go is correct and the clear omissions by the taxpayer of key legal argument in the case, as well as the principles around a typical corporate interest-free loan and why
it will not be affected by this judgment.
10:00 AM : Tea & Coffee
10:15 AM :

Arthur Schoeman
Has lectured for the Association of Law Societies on property law and VAT on property transactions.  Delivered papers and lectures on property law to both business and universities.  This includes lecturing on property law to the Graduate School of Business on the Property Development Programme of SAPOA.  Was instrumental in the drafting of legislation relating to land.  This includes the drafting of the Property Time-Sharing Control Act, Housing Development Schemes for Retired Persons Act, and various amendments to the Sectional Titles Act.  In particular the “New Generation” Sectional Titles Act, 1986.  He made representations on behalf of the Property Law Group (PLG), and the Association of Law Societies, in regard to the drafting of the Development Facilitation Act (DFA).

WHY THE BRUMMERIA JUDGMENT IS WRONG!
10:45 AM :

Daniel Erasmus
Co-author of VAT for Lawyers: A Guideline; CGT: A Guideline, Butterworth's Amnesty Handbook, he has just submitted for publication to Lexis Nexis his latest book Managing 7 Habitual Tax Mistakes: A Tax Risk Management Handbook. Daniel has been member on a Tax Commission, the LSSA Tax Committee (incl. chairman for 7 years) and the SARS VAT Technical Committee. He is the founder and contributing editor of www.TAXtalk.co.za and the TAXtalk magazine, and lectures extensively on tax in South Africa and abroad.

How to interact with SARS if they decide to approach a taxpayer for an audit and decide to issue revised assessments on interest-free loans; how to avoid SARS interest, penalties and the PNAL principle together with applying section 79 and the practice generally prevailing principles.

For enquiries contact Ryan Dube
Email ryan@frontfoot.co.za or call 011-880-4808