Galbraith Rushby

03/09/2026

Apparently, accountants never really get a night off… even at a 40-year school reunion.

A recent reunion for Galbraith Rushby director Jeneen Galbraith took an unexpected turn when an old school friend mentioned that she was selling a business she owned in another African country.

Naturally, the question followed:
"What tax am I going to pay?"

As Jeneen explained, that's where things get interesting.
"Selling a business" can mean very different things from a tax perspective. Are you selling the shares in the company? Is the company selling its assets? Will the proceeds ultimately be paid out as a dividend? Is it a qualifying small business? And, if the business is offshore, which country actually has the right to tax the gain?

Each route can produce a very different tax outcome.

As highlighted in a recent Two Oceans Vibe article, there can also be valuable relief available. For the 2027 year of assessment, qualifying business owners aged 55 or older - or disposing because of ill health, infirmity or death - may be able to disregard up to R2.7 million in capital gains on qualifying small-business assets. It is a lifetime cumulative exclusion and comes with specific requirements, including a gross asset threshold of R15 million.

Cross-border transactions add another layer. Even where a Double Taxation Agreement gives South Africa the taxing right, withholding tax in another jurisdiction can create an unwelcome cash-flow headache.

And that brings us to the real lesson from Jeneen's school reunion:
If you've spent years building a business, don't wait until you're selling it to ask how SARS sees the deal.

Good tax planning isn't about avoiding tax. It's about understanding the implications before you sign on the dotted line - and structuring a transaction with your eyes open.

A 40-year school reunion, a business sale and a R2.7 million tax lesson. Who said tax couldn't make good dinner conversation?

Read the Two Oceans Vibe article: https://www.2oceansvibe.com/business/finance-2/accountant-reunion-tax-sale-august-2026/

A 40-year school reunion turned into a useful reminder that selling a foreign business can mean shares, assets, dividends, CGT relief and offshore withholding tax.

24/08/2026

Some welcome movement for South Africa's film and television industry.

After months of uncertainty around South Africa's Film and Television Production Incentive, the Independent Producers Organisation (IPO) and Save SA Film & TV Jobs Coalition appeared before Parliament on 11 August with industry and the DTIC agreeing on a way forward to tackle the incentive backlog and address the longer-term problems within the system.

The industry has been calling for urgent intervention over delayed and disputed rebates, inconsistent administration and the knock-on effect this has had on production companies, suppliers and thousands of people whose livelihoods depend on the sector.

And this isn't simply a film industry issue.

South Africa's production sector brings international spend into the country and supports an extensive ecosystem of businesses—from studios, equipment and post-production to accommodation, transport, catering, construction and freelancers. Government itself recognises the incentives as a mechanism to attract foreign productions and develop South Africa's creative and technical skills base.

So, what does the latest development mean?

The establishment of structured workgroups between the DTIC and industry is an important step towards resolving outstanding claims, creating greater certainty around the incentive programme and, importantly, reforming a system that needs to work if South Africa is to remain competitive internationally.

Jeneen's take:
"For businesses in the film sector, certainty is everything. Incentives form part of production financing and cash-flow planning, so lengthy delays don't affect one line on a balance sheet - they ripple through an entire production ecosystem."

There is still work to be done, and an agreed action plan is not the same as money in the bank. But getting government and industry around the same table, with defined workstreams and a shared objective, is progress worth watching.

For production companies, this is also a timely reminder that sound accounting, audit-ready records and careful compliance with incentive requirements remain essential when applying for or claiming rebates.

Galbraith Rushby works with clients across the film and production sector, including audit and DTIC Film Rebate requirements and this is very welcome news.

19/08/2026

Is your business PAIA compliant?

Many businesses have focused on POPIA in recent years—but PAIA compliance is just as important.

If your business collects personal information or deals with requests for access to records, you may have legal obligations under the Promotion of Access to Information Act.

Now is a good time to check that:

✔️ Your PAIA Manual is current
✔️ Your Information Officer is registered
✔️ Your compliance processes are in place

📖 Read our latest article:
PAIA Compliance: The Forgotten Law Is Getting Teeth
https://galbraithrushby.co.za/paia-compliance-the-forgotten-law-is-getting-teeth/
If you have questions about your compliance obligations, contact your dedicated Galbraith Rushby consultant.



Instagram
Think your business is compliant?
Many organisations have ticked the POPIA box…
…but have you checked your PAIA compliance?

✔️ PAIA Manual
✔️ Information Officer
✔️ Information request procedures

It's a small compliance step that can make a big difference.

📖 Read our latest article to learn more.



Suggested Visual
Headline:
IS YOUR BUSINESS PAIA COMPLIANT?
Subheading:
The forgotten law is getting teeth.

Bottom banner:

✔ PAIA Manual
✔ Information Officer
✔ Governance Processes

Footer:

Read our latest article.
Galbraith Rushby (logo)

This would make a strong, clean GR-branded graphic and clearly communicate the key message while driving readers to the full article.

For years, many businesses treated PAIA as a once-off admin task.  Prepare a manual. Put it in a folder. Maybe upload it to the website. Forget about it. That approach is becoming risky. The Information Regulator is placing renewed focus on PAIA compliance, and the message is clear: businesses mus...

12/08/2026

Does SARS tax debt ever expire?

Many people assume that all debt prescribes after three years—but tax debt is different.

Depending on the circumstances, SARS may still be able to recover outstanding tax debt many years later, and certain actions can interrupt or extend the prescription period.

Before making assumptions about an old tax debt, it's worth understanding how the rules apply to your situation.

Read our latest article:
Prescription Rules: When Does Tax Debt Expire?
https://galbraithrushby.co.za/prescription-rules-when-does-tax-debt-expire/

If you have questions about an outstanding tax liability, contact your dedicated Galbraith Rushby consultant.

Debt is one of the most unfortunate aspects of life that everyone ultimately deals with. Where normal consumer debt generally prescribes after three years, tax is somewhat different. For one, should you be sequestrated, the South African Revenue Service (“SARS”) is a preferential creditor and wi...

09/08/2026

Happy Women's Day!

Today we celebrate the incredible women who lead, inspire and make a difference every day.

To our colleagues, clients, business owners, entrepreneurs, mothers, daughters and mentors - thank you for the passion, resilience and leadership you bring to everything you do.

Here's to supporting one another, celebrating every achievement and building brighter futures together.

From all of us at Galbraith Rushby, Happy Women's Day!

03/08/2026

Welcome to the team, Ebrahim!

We're delighted to welcome Ebrahim Davids to Galbraith Rushby, where he joins our Audit team as an Audit Supervisor.

Ebrahim graduated with a BCom degree specialising in the Chartered Accounting stream in 2023 and successfully completed his SAICA articles earlier this year. Having built a strong foundation in audit and assurance, he now brings his technical expertise, enthusiasm and fresh perspective to our growing team.

As Galbraith Rushby continues to support businesses across a wide range of industries, we're committed to investing in talented professionals who share our values of integrity, excellence and client service. We're excited to have Ebrahim on board and look forward to the contribution he will make to both our clients and our team.

Outside the office, you'll most likely find Ebrahim at the kickboxing gym, working in the garden or enjoying a good romance novel on the beach - a reminder that balance is just as important as professional growth.

We wish him every success in this exciting new chapter.

28/07/2026

Has your side business become a little more complicated from a tax perspective?

A recent change to South Africa's tax legislation has significantly widened the reach of the ring-fencing rules for losses on certain "suspect trades".

From 1 March 2026, taxpayers earning around R673 000 or more may find that losses from certain side businesses can no longer be offset against their salary or other taxable income. Previously, this generally only affected taxpayers earning more than R1.8 million.

So what does this mean?
If your side venture falls within the ring-fencing rules, losses may only be used against future profits from that same activity - not to reduce the tax payable on your employment income.

This doesn't mean every side hustle is affected. The legislation is aimed at activities that SARS considers more likely to be hobbies or lifestyle ventures than genuine commercial enterprises. However, taxpayers who can demonstrate that their business is operated with a genuine profit motive may still qualify for relief.

Whether it's a rental property, cryptocurrency trading, farming or another secondary source of income, the key question is whether the activity is being conducted as a genuine business. Good records, sound business planning and a clear commercial purpose have never been more important.

If you operate a side business or have multiple income streams, now is a good time to review how these changes may affect your tax position before your next return is submitted.

22/07/2026

18/07/2026

It's Mandela Day!

Today is a reminder that even the smallest acts of kindness can have a lasting impact.

As Nelson Mandela said:
"What counts in life is not the mere fact that we have lived. It is what difference we have made to the lives of others."

Whether you're giving 67 minutes of your time, supporting a local charity or simply helping someone in need, every contribution matters.

From all of us at Galbraith Rushby, we wish you a meaningful Mandela Day.

15/07/2026

A reminder regarding all tax filing dates and deadlines.