Personal Income Tax

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 […]

February 18, 2021February 18, 2021 Marc DerfoldyCapital Gains Tax, Income Tax Act, Pension Funds, Personal Income Tax, Provident Funds, Tax Administration Act, Trusts

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 […]

February 4, 2021February 4, 2021 Marc DerfoldyCapital Gains Tax, Income Tax Act, Investments, Pension Funds, Personal Income Tax

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 […]

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 […]

November 26, 2020November 26, 2020 Marc DerfoldyCapital Gains Tax, Companies Act, Corporate Tax, Income Tax Act, National Credit Act, Personal Income Tax, Tax Administration Act, Terminology

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 […]

August 27, 2020August 27, 2020 Marc DerfoldyCapital Gains Tax, Investments, Pension Funds, Personal Income Tax, Trusts

Capital Gains Tax for Companies – part 3

In this article we will continue discussing the basics of Capital Gains Tax with an emphasis on calculations and information regarding gains or losses. Recall from article “part 2” the […]

July 23, 2020July 23, 2020 Marc DerfoldyCapital Gains Tax, Income Tax Act, Investments, Personal Income Tax, Tax Administration Act

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 […]

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 […]

May 4, 2020May 4, 2020 Marc DerfoldyCOVID-19, Debt review, Employment Tax Incentive, Income Tax Act, Labour Relations, Personal Income Tax, UIF

Financial aid during the COVID-19 crisis – Unemployment Insurance Fund

Section 8 of The National Disaster Regulation 10 empowers the Minister of Employment and Labour with the authority to issue and vary directions, within mandate, to address, prevent and combat […]

March 2, 2020March 2, 2020 Marc DerfoldyCompanies Act, Corporate Tax, Income Tax Act, Personal Income Tax, Tax Administration Act

Tax-based incentives offered by Government to businesses operating in South Africa(part2)

Covered in part 2 of Tax-based Incentives Industrial policy projectsSpecial Economic Zones (SEZs)Energy efficiency savings incentiveInternational shipping incentiveVenture capital companies Industrial policy projects In 2008, a ZAR 20 billion incentive […]

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