recent blog posts

This article will shed light on a critical aspect of business operations: beneficial ownership.

Today, we’ll demystify income tax – an essential topic every working individual must grasp.

In this article, we’ll delve into the intricacies of provisional tax in South Africa, which often leaves many scratching their heads.

Individuals who pay personal income tax can claim the rebate against their tax liability. This rebate is not intended for solar installations at business premises.

PHASE 1 – 15 APRIL TO 31 MAY 2020 EMP 501 payroll reconciliations to be lodged by all employers. Third party data from banks, pension schemes, medical schemes, financial services, etc, will be collated and reviewed by SARS. SARS will…

All taxpayers need to be aware of email scams that are currently doing the rounds. SARS has created a section of their website where they will post updates of any scams they have heard about. Similarly, they would like you…

SOUTH AFRICAN REVENUE SERVICE No. JUNE 2018 RETURNS TO BE SUBMITTED BY A PERSON IN TERMS OF SECTION 25 OF THE TAX ADMINISTRATION ACT, 2011 (ACT NO. 28 OF 2011) In terms of section 25 of the Tax Administration Act,…

SARS INTERPRETATION NOTE: NO. 31 (Issue 4) This recently released interpretation note sets out the documentary proof that is acceptable to the Commissioner as contemplated in section 11(3), in instances where goods or services are supplied at the zero rate….

The mandate of the Tax Ombud is to review and address any complaint regarding a service, procedural or administrative matter arising from the application of the provision of the Act by SARS. The office will investigate the matter and notify…

You can claim a scrapping allowance when you sell a business asset, it is stolen, you lose it or it’s destroyed (say in a fire) and the amount you received for it is less than the net tax value of…

If you owe SARS more money than you can afford to pay then you are a candidate for a tax compromise. In a nutshell SARS is willing to “park” some (not all) of your current debt in order to ensure…

31 August 2015 is the deadline for the 1st 2016 provisional tax return for individuals, trusts and companies with a February year end. It is an often misunderstood tax especially with regard to its workings. This is not helped by…

In our June 2015 newsletter we set out the requirements where the submission of a 2015 tax return would not be required. Briefly these are where an individual earn less than R350 000 per annum and fulfils a series of…

The loss of employment through retrenchment (forced or voluntary) is a reality many employees face in the current economic climate. Over the last number of years, various tax concessions have been made to ease the financial burden on employees facing…

The 2015 tax season (March 2014 to February 2015) opens on 1 July 2015 and this raises the annual question of which individuals are required to submit an IT12 annual tax return. As per Government Gazette 38874 dated 12 June…

From 1 April 2014, interest incurred on subordinated debt is no longer tax deductible. Section 8F of the Income Tax Act 58 of 1962 (“the Act”) is an anti-avoidance provision which deems the interest to be a dividend in specie and effectively…