P.A.Y.E – Fincor

March 23, 2022March 23, 2022 Marc DerfoldyCompanies Act, Corporate Tax, Income Tax Act, Investments, P.A.Y.E, Personal Income Tax

Turnover Tax

Turnover tax is a simplified system aimed at making it easier for micro business to meet their tax obligations. The turnover tax system replaces Income Tax, VAT, Provisional Tax, Capital […]

October 6, 2021October 6, 2021 Marc DerfoldyCapital Gains Tax, Carbon Tax, Corporate Tax, Income Tax Act, P.A.Y.E, Personal Income Tax, Tax Administration Act

Deferral of payment arrangements with SARS

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 […]

July 15, 2021July 15, 2021 Marc DerfoldyCapital Gains Tax, Companies Act, Corporate Tax, Income Tax Act, P.A.Y.E, Personal Income Tax, Tax Administration Act

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 […]

July 1, 2021July 1, 2021 Marc DerfoldyCompanies Act, Income Tax Act, P.A.Y.E, Tax Administration Act

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 […]

May 27, 2021May 27, 2021 Marc DerfoldyCapital Gains Tax, Companies Act, Corporate Tax, Income Tax Act, P.A.Y.E, Personal Income Tax, Tax Administration Act, UIF, Value Added Tax

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 […]

March 11, 2021 Marc DerfoldyCompanies Act, Corporate Tax, Employment Tax Incentive, Income Tax Act, Labour Relations, P.A.Y.E, Personal Income Tax, Tax Administration Act

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 […]

January 14, 2021January 14, 2021 Marc DerfoldyCapital Gains Tax, Carbon Tax, Companies Act, Corporate Tax, Income Tax Act, P.A.Y.E, Personal Income Tax, Tax Administration Act

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 […]

September 7, 2020September 7, 2020 Marc DerfoldyCompanies Act, Non-profit organisation, P.A.Y.E, Tax Administration Act

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 […]

July 16, 2020July 16, 2020 Marc DerfoldyCapital Gains Tax, Corporate Tax, Employment Tax Incentive, Income Tax Act, P.A.Y.E, Pension Funds, Personal Income Tax, Provident Funds, Retirement, Trusts, Value Added Tax

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 […]

March 30, 2020March 30, 2020 Marc DerfoldyCompanies Act, Corporate Tax, Employment Tax Incentive, Income Tax Act, P.A.Y.E, UIF

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, […]