This is article four discussing the updated Medical Tax Credits Guide, Issue 18, of June 2026. Please read the previous articles before proceeding with this article, which lists relevant information on prescribed lists of expenditure (Annexure B of the Income Tax Act 58 of 1962). The prescribed list of expenditure…

This is article three discussing the updated Medical Tax Credits Guide, Issue 18, of June 2026. Please read the previous articles before proceeding with this article. Employees’ tax implications Medical scheme fees tax credit An employer that effects payment of the medical scheme fees is obliged to take into account…

This is article two discussing the updated Medical Tax Credits Guide, Issue 18, of June 2026. Please read part one before proceeding with this article. Medical scheme fees tax credit (MTC) The MTC is set at a fixed amount per month. Since the MTC is a “rebate” and not a…

The annual carbon tax accounts and payments for the 2025/2026 tax period, which started on 1 January 2025 and ended on 31 December 2025, are now due. The Excise declaration (EXD 180) account, with its relevant annexures and carbon tax payments, can be submitted on e-filing from 01 July. The…

This updated SARS guide, Issue 18, provides general guidelines regarding the medical scheme fees tax credit and additional medical expenses tax credit for income tax purposes. This guide is not an “official publication” as defined in section 1 of the Tax Administration Act 28 of 2011 (TA Act) and accordingly…

When taxpayers are aggrieved by an assessment or not satisfied with a decision taken by SARS, and if the decision is subject to objection and appeal, they have a right to dispute the assessment or decision. Chapter 9 of the Tax Administration Act, 2011, and the rules made under section…

This 2026 article is an update of the original article published in July 2019. The original article can be accessed here: https://fincor.co.za/sars-and-tax-assessment-prescriptions/ A second article can be found here: https://fincor.co.za/tax-returns-and-the-3-year-limitation-period-of-the-tax-administration-act/ Before the Tax Administration Act, 28 of 2011 came into effect on 1 October 2012, section 11(a)(iii) of the Prescription…

SECTION 74(2) OF THE VALUE-ADDED TAX ACT, 1991 (ACT NO. 89 OF 1991) The National Treasury and the South African Revenue Service (SARS) published, for public comment, the draft amendments to the Regulations on the Domestic Reverse Charge (DRC) relating to valuable metal, issued in terms of section 74(2) of…

This second of two articles summarises changes made in the 2026/2027 financial year for companies as published by SARS. The first article summarised the changes made for Individuals and Trusts. INCOME TAX: COMPANIES The tax rate for companies applies to years of assessment that end on any date from 1…

This first of two articles summarises changes made in the 2026/2027 financial year for individuals as published by SARS. The second article will summarise the changes made for companies. INCOME TAX: INDIVIDUALS AND TRUSTS Tax rates from 1 March 2026 to 28 February 2027 Individuals and Special Trusts Taxable Income…