Personal Income Tax

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 […]

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 […]

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 […]

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