Upskill original | tax master class

Taxation for Farmers 

The taxation of farming operations is subject to a unique and detailed set of tax rules. All annual tax returns require that income from farming operations and relevant expenses be disclosed separately so that SARS can easily assess whether the specific tax rules have been adhered to.
Price inclusive of VAT @15%
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Upskill original | tax master class

Who should enrol?

  • Tax specialists and Tax practitioners
  • Practicing accountants and lawyers
  • Tax practitioners involved in submission of tax returns
  • Those involved in financial advisory, estate planning & real estate
  • Trainees in audit and accounting practices
  • Persons involved in management and oversight of farming operations
More about this module
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Many farmers carry on farming operations in their own name. Due to the new legislation applicable on the death of a taxpayer and specifically the impact this has on farmers, an understanding of the new legislation is essential to ensure proper tax planning can be done. This master class will assist you in obtaining a thorough understanding of the specific tax rules for farming and the impact of other relevant tax legislation. 
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The following topics are covered in this online module:
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  • Tax consequences of housing farming operations and farmland in separate tax entities. 
  • Detailed look at the First Schedule, including problem areas like the meaning of “farming operations” vs the letting of farmland; Produce held in a “wine-pool” or co-op and closing stock;  ring-fencing the cost of livestock and limitation of capital development expenditure and recoupments.
  • Other relevant tax allowances. 
  • Ring-fencing of assessed losses from farming operations. 
  • Consequences of the purchase and sale of farming operations to ensure tax efficiency. 
  • Death of a farmer: Deemed disposal rules and effect of holding livestock.
  • Death of a farmer: The effect of unutilised capital development expenditure.
  • Death of a farmer: The cost of inherited livestock and assets and relevant allowances; and game farmers.
  • Value added tax for farmers.
  • The diesel rebate.

This course is ideal for CPD

CPD Information

General CPD information

After completing this e-learning module, you will be issued with a certificate of completion containing all the relevant information relating to this module for CPD purposes. You will be required to complete 20 multiple choice questions and will have 3 attempts to achieve at least 60%. Only once you have achieved the minimum exit level criteria will the Upskill platform issue you with your completion certificate.

Members of SAICA

This course can be used by members of SAICA for CPD purposes. As part of SAICA's output-based CPD policy you are required to plan, act and reflect. This online master class deals with Tax Planning and Tax Governance as the linked competencies to the competency framework.

Members of the SAIT

This course can be used by members of the SAIT for CPD purposes. The course is accredited by the SAIT for CPD purposes.

Members of SAIPA

Given the exit level requirements of this module, you will qualify for 4 verifiable CPD on presentation of your completion certificate.
Upskill original | tax master class

This module contains
the following elements

Course notes  

You will be able to download a full set of course notes for your use. All we ask is that you dont share these.

Cheat sheets  

This module contains various cheat sheets you can download and refer back to when needed. All we ask is that you dont share these.

  Studio recordings

This module is not a webinar recording. The module contains various videos recorded in our professional recording studio.

  Completion certificate

You will be issued with a completion certificate after meeting the exit level requirements as outlined in chapter 5.

If a taxpayer rents out farmland, will SARS regard that as a farming operation?

After completing this course you will be able to answer this question.
Upskill original | tax master class

Explore the course content 

This content of this module will be available for you to access for a period of 6 months from the date of enrolment. The course contains various elements as listed below and should be completed in order. Your certificate of completion will only be issued if you meet the exit level requirements. You have to obtain at least 60% in the multiple choice questions in chapter 5 (conclusion section) and you will only have 3 attempts to do this. Should you fail to meet the exit level requirements, you will have to enrol for the module again in order to receive your completion certificate. Please ensure you are happy with your answers before submitting them to avoid the aforementioned. 
Meet the facilitator

Diane Seccombe

Admitted Attorney, BCom, LLB, LLM (Taxation)
Diane Seccombe is an admitted attorney with a masters degree in taxation. She has over 15 years of experience with taxation. Diane is currently the National Head of Taxation at Mazars Academy Proprietary Limited and in this capacity provides tax training to professional institutes, banks, financial service providers and financial planners. She is also well known amongst students for her tax lectures at post graduate level. Diane consults on income tax matters including, corporate, individual and international tax and is an expert in Value Added Tax.
Diane Seccombe