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 […]
Income Tax Act
Non-profit organisation-related law and benefits in South Africa – article 2 of 2
In this second NPO-related article, we continue discussing some legal aspects of non-profit organisations and the benefits thereof. Please refer to article 1 of 2 as well. Applicable Laws • […]
Tax and retirement
Reference sites, guides and legislation: www.sars.gov.zaGuide on the calculation of the tax payable on lump sum benefitsRates and Monetary Amounts and Amendment of Revenue Laws ActIncome Tax ActTax Administration Laws […]
Taxation Laws Amendment Bill, 2020 and Tax Administration Laws Amendment Bill, 2020 now promulgated as law in January 2021
Reference documents from www.sars.gov.za (latest news sub-section) Rates and Monetary Amounts and Amendment of Revenue Laws Act, 2020, (Act No. 22 of 2020)Taxation Laws Amendment Act, 2020 (Act No 23 […]
Tax refunds from SARS
Reference documents and sites www.sars.gov.zaITR12 – annual tax return submitted by the taxpayerITA 34 – SARS notification to the tax payer via e-Filing and emailIncome Tax ActTax Administration Act In […]
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 […]
Wilful conduct (misconduct) for tax related offences – proposed amendments as per 2020 Draft Taxation Laws Amendment Bill (Draft TLAB) and the 2020 Draft Tax Administration Laws Amendment Bill (Draft TALAB)
Reference documents: Income Tax Act, 1962, as amended, paragraph 30 of Fourth ScheduleTax Administration Act, 2011, section 234(p)Section 58 of the Value Added Tax Act, 1991 The days of using […]
Capital Gains Tax for Companies – part 2
In this article we will continue discussing the basics of Capital Gains Tax with an emphasis on the methods of cost base valuation. Refer to part 1 for introductory information. […]
Capital Gains Tax for Companies – part 1
In this article we will discuss the basics of Capital Gains Tax and in subsequent articles provide examples of capital gains tax for businesses. Capital gains tax (CGT) was introduced […]
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 […]