Payment of taxes is often a sensitive topic to discuss and everyone at some stage is obligated to pay their fair share. For the sake of clarity please note the […]
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Draft Income Tax Amendment Bill – Commentary
SARS published an explanatory document of the Draft Income Tax Amendment Bill on 30 July 2019. This three page document summarises two aspects of the Draft Bill: REPEAL OF THE […]
Goodwill – Capital Gains Tax and Accounting
This article discusses the basics of “Goodwill” from an accounting perspective. Relevant Legislation: Income Tax Act 58 of 1962 (as amended) Taxation Laws Amendment act 5 of 2001 (and various […]
The Prime Lending Rate of the Reserve Bank
On 18 July 2019 the South African Reserve Bank cut its benchmark repo rate by 25 basis points to 6.5 percent. This is the first reduction of the interest rate […]
Tax on Foreign Earnings
National Treasury announced earlier on 2019 that it intends to change the provision in the tax law that exempts South African tax residents from paying tax on income from foreign […]
SARS and Tax Assessment Prescriptions
Section 99 of the Tax Administration Act regulates the prescription of tax periods. The most important circumstances in which SARS is barred from raising further assessments in relation to a […]
Tax filing season starts on 01 July
Filing season for taxpayers who have been making use of e-Filing will start on 01 July or 01 August 2019 depending on your tax classification. Non-provisional taxpayers who use e-Filing […]