We at Fincor believe that the individual client has the freedom to choose, and therefore we provide our clients with a variety of financial, accounting, tax and bookkeeping services, products and solutions so as to ensure the future wealth and prosperity of their business.
We at Fincor believe that the individual client has the freedom to choose, and therefore we provide our clients with a variety of financial, accounting, tax and bookkeeping services, products and solutions so as to ensure the future wealth and prosperity of their business.
Latest News Blog
Relevant Legislation: Income Tax Act No 58 of 1962, Section s10(1)(o)(ii) and section 9H On 1 March 2020, changes to the exemption for foreign employment income in s10(1)(o)(ii) of the Income Tax Act No 58 of 1962 (Act), will come into effect. Until 29 February 2020, foreign employment income earned…
It's that time of the year again; businesses will soon need to begin compiling their workplace skills plan and annual training report and submit them online. Businesses submit info for the period 01 April to 31 March via a registered skills development facilitator (SDF) and is submitted to the SETA…
Tax policy and tax mechanisms have often been seen as one of the ways in which governments can influence the behavior of its citizens. Energy waste is no different in this case and renewable energy attracts a lot of attention in many social circles. Section 12B of the Income Tax…
Are you aware that Section 11D of the Income Tax Act provides tax incentives and this has been in force since 2006 and is referred to as the Research and Development (R&D) Tax Incentive. For the purpose of this article the following Acts are relevant: Income Tax Act 58 of…
Updated info for the Carbon Tax Act Back in May 2019 the Carbon Tax Act Number 15 of 2019 was published in Gazette #42483 and took effect on 01 June 2019. In terms of section 19(c) of the Carbon Tax Act, the Carbon Offsets Regulation was gazetted on Friday 29…
In 2018 the Estate Duty rate increased from 20% to 25% on dutiable amount of estates of more than R30 million. When a person dies, the deceased person and all his or her assets on date of death will be placed in an estate. This estate is called an estate…
Section 181 of the Tax Administration Act Number 28 of 2011 is applicable in this instance. This section allows shareholders to be held jointly or individually liable for the tax debts of their company and the intention is not to punish shareholders, but to discourage them from asset or dividend…
When a company is formed it has to have at least one director and one shareholder within the company. Without the two a company cannot be successfully registered. The difference between a director and shareholder Directors manage the day to day operations of a companyShareholders own the company by the…
It’s not often that SARS offers tax relief but when it is presented as an option it should be used without delay. Within Section 13 of the Income Tax Act lies a little gem. This section offers tax advantages for property investors being able to claim millions of rands back…
Double Tax Agreements What is a double tax agreement? A double tax agreement is one that allows the required tax to be paid to be offset in one of two countries against tax payable in the other in doing so avoiding double taxation. South Africa is a signatory to double…
Relevant Legislation: Income Tax Act No 58 of 1962, Section s10(1)(o)(ii) and section 9H On 1 March 2020, changes to the exemption for foreign employment income in s10(1)(o)(ii) of the Income Tax Act No 58 of 1962 (Act), will come into effect. Until 29 February 2020, foreign employment income earned…
It's that time of the year again; businesses will soon need to begin compiling their workplace skills plan and annual training report and submit them online. Businesses submit info for the period 01 April to 31 March via a registered skills development facilitator (SDF) and is submitted to the SETA…
Tax policy and tax mechanisms have often been seen as one of the ways in which governments can influence the behavior of its citizens. Energy waste is no different in this case and renewable energy attracts a lot of attention in many social circles. Section 12B of the Income Tax…
Are you aware that Section 11D of the Income Tax Act provides tax incentives and this has been in force since 2006 and is referred to as the Research and Development (R&D) Tax Incentive. For the purpose of this article the following Acts are relevant: Income Tax Act 58 of…
Updated info for the Carbon Tax Act Back in May 2019 the Carbon Tax Act Number 15 of 2019 was published in Gazette #42483 and took effect on 01 June 2019. In terms of section 19(c) of the Carbon Tax Act, the Carbon Offsets Regulation was gazetted on Friday 29…
In 2018 the Estate Duty rate increased from 20% to 25% on dutiable amount of estates of more than R30 million. When a person dies, the deceased person and all his or her assets on date of death will be placed in an estate. This estate is called an estate…
Section 181 of the Tax Administration Act Number 28 of 2011 is applicable in this instance. This section allows shareholders to be held jointly or individually liable for the tax debts of their company and the intention is not to punish shareholders, but to discourage them from asset or dividend…
When a company is formed it has to have at least one director and one shareholder within the company. Without the two a company cannot be successfully registered. The difference between a director and shareholder Directors manage the day to day operations of a companyShareholders own the company by the…
It’s not often that SARS offers tax relief but when it is presented as an option it should be used without delay. Within Section 13 of the Income Tax Act lies a little gem. This section offers tax advantages for property investors being able to claim millions of rands back…
Double Tax Agreements What is a double tax agreement? A double tax agreement is one that allows the required tax to be paid to be offset in one of two countries against tax payable in the other in doing so avoiding double taxation. South Africa is a signatory to double…