The meaning of “employee” for purposes of the Employment Tax Incentive Act Source: SARS’ Draft Interpretation Note of March 2023 Please read the previous article “Draft Guide to the Employment […]
Employment Tax Incentive
Draft guide to the Employment Tax Incentive
In March 2023 SARS issued a new draft guide to the Employment Tax Incentive. It’s a lengthy 56 pages and can be downloaded from the SARS website. The employment tax […]
Employment Tax Incentive (ETI), Corporate Income Tax (CIT) and others
As per SA’s 2022 Budget Speech, the Employment Tax Incentive (ETI) has been extended to 28 February 2029. The ETI is aimed at supporting the private sector in the employment […]
Tax Incentives and their expiry date
Tax incentives are applied to encourage certain behaviours and activities by providing businesses and individuals with favourable tax treatment. The introduction of a tax incentive is generally based on a […]
Expat tax
If you’ve recently moved abroad from South Africa for work, there are a few things you’ll need to keep in mind in 2021 as a resident living temporarily abroad: the […]
The Compensation Fund and Rand Mutual Assurance Fund
Reference Acts and Websites Compensation for Occupational Injuries and Diseases Act (1993)Compensation for Occupational Injuries and Diseases Amendment Act (1997) The Compensation Funds “e-COID” online facility on website http://www.labour.gov.za/Online-ToolsRand Mutual […]
Earnings thresholds, Income Tax thresholds and Minimum Wage updates
Reference documents Basic Conditions of Employment Act, as amendedIncome Tax Act, as amendedNational Budget Speech, February 2021National Minimum Wage Act, as amended This article gives a brief overview of salary […]
Some changes made to the Taxation Laws Amendment Bill, 2020
Reference documentsTaxation Laws Amendment Bill, 2020 “TLAB” In October 2020, the Minister of Finance presented the Rates and Monetary Amounts and Amendment of Revenue Laws Bill, 2020, the Tax Administration […]
RETURNS TO BE SUBMITTED BY A PERSON IN TERMS OF SECTION 25 OF THE TAX ADMINISTRATION ACT, 2011 (ACT NO. 28 OF 2011)
Gazette Number 43495 dated 03 July 2020 was published by the Commissioner of the South African Revenue Service (SARS) and is an update to the requirements for submitting / not-submitting […]
Section 23H of the Income Tax Act, No 58 of 1962 – deductions claimed for prepaid expenditure
Section 23H of the Income Tax Act is one that is often carefully reviewed by SARS for correct application by businesses. This portion of the Income Tax Act, No 58 […]