Relevant Acts and documents Income Tax ActSARS Deferral of Payment Arrangements Guide on eFiling Acronyms relevant to this Guide and process: CIT Corporate Income TaxDWT Dividends Withholding TaxMCP My Compliance […]
P.A.Y.E
Home Office expenses, deductions and tax
Reference Acts: Income Tax Act, Sections 11 and 23 This article deals with home office usage for business purposes and the associated tax implications. It has become very common for […]
Fringe benefits and tax
Reference documents Income Tax ActIncome Tax Act Schedule 7Tax Administration Act What is a fringe benefit? Fringe benefits usually refer to non-cash benefits granted to employees, but do not constitute […]
Small businesses and taxation
Relevant documents and sites: www.sars.gov.zawww.cipc.org.zaIncome Tax ActVAT Tax Act Other terminology of importance Income Tax, VAT, Provisional Tax, Capital Gains Tax, Dividends Tax, Corporate Income Tax (CIT), Pay-As-You-Earn (PAYE), Turnover […]
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 […]
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 […]
The similarities and differences between non-profit (NPO) and for-profit organisations and the legal requirements for a NPO
This article is number two of two in this NPO series and provides further insight in to non-profit organisations and the legal framework around them. Section 21 companies: what is […]
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 […]
Clarifying the interaction between the Employment Tax Incentive and Special Economic Zone provisions
In January 2020 Gazette 42951 related to the Tax Laws Amendment Act, 2019 (also know as TLAB 2019) was published. This gazette covers a number of amendments to the TLAB, […]
Foreign Employment Income Tax
Relevant Legislation: Income Tax Act No 58 of 1962, Section s10(1)(o)(ii) and section 9H On 1 March 2020, changes to the exemption for foreign employment income in s10(1)(o)(ii) of the […]