On 01 March 2020, changes to the exemption for foreign employment income in s10(1)(o)(ii) of the Income Tax Act No 58 of 1962 (Act), will come into effect. Until then, […]
Have you ever wondered what SARS’ official functions may be in terms of legislation? Collection of Income Tax is merely one aspect everyone is aware of. SARS is the only […]
Payment of taxes is often a sensitive topic to discuss and everyone at some stage is obligated to pay their fair share. For the sake of clarity please note the […]
Section 99 of the Tax Administration Act regulates the prescription of tax periods. The most important circumstances in which SARS is barred from raising further assessments in relation to a […]
Filing season for taxpayers who have been making use of e-Filing will start on 01 July or 01 August 2019 depending on your tax classification. Non-provisional taxpayers who use e-Filing […]
The Carbon Tax Act Number 15 of 2019 published in Gazette #42483 dated 23 May 2019 took effect on 01 June 2019. The Act may be downloaded here. South Africa […]
In South Africa, Trusts can be classified as follows: An “ownership trust”, under which the founder or settlor transfers ownership of assets or property to a trustee(s) to be held […]
Capital Gains Tax (CGT) was introduced in South Africa with effect from 1 October 2001 (referred to as the “valuation date”) and applies to the disposal of an asset on […]
The Employment Tax Incentive Act 26 of 2013 (the Act), was promulgated on 18 December 2013 and came into effect on 1 January 2014. The Incentive Plan has recently been […]
