The Financial Intelligence Centre Amendment Act (FICA) is South Africa's Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) legislation. FICA governs many aspects of South Africa's financial and commercial landscape, including the identification of accountable institutions and their obligations. The Financial Intelligence Centre (FIC) is the national regulatory body…

This is the third article discussing the basics of the SARS Draft Guide to the Taxation of Crypto Assets published in July 2026. All sections referred are from the Income Tax Act. Donations tax The term “donation” is defined in section 55(1) as “any gratuitous disposal of property, including any…

This is the second article discussing the basics of the SARS Draft Guide to the Taxation of Crypto Assets published in July 2026. The crypto asset market is dynamic and subject to constant change and innovation. Consequently, the detail of a particular transaction involving crypto assets is the starting point…

This draft SARS guide provides guidance on some of the income tax and capital gains tax consequences that may arise for persons transacting in or holding crypto assets. The guidance is based on currently available information on crypto assets. Given the constant innovation and development in this technology, the principles…

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…