Personal Income Tax

May 3, 2022 Marc DerfoldyCorporate Tax, Employment Tax Incentive, Income Tax Act, Personal Income Tax

Tax Incentives and their expiry date

Tax incentives are applied to encourage certain behaviours and activities by providing businesses and individuals with favourable tax treatment. The introduction of a tax incentive is generally based on a […]

April 12, 2022April 12, 2022 Marc DerfoldyCapital Gains Tax, Investments, Personal Income Tax

The SARS Voluntary Disclosure Programme (VDP)

VOLUNTARY DISCLOSURE RELIEF SARS allows taxpayers to avoid criminal prosecution and regularise their tax affairs by making a disclosure under the VDP. A successful VDP application allows for an applicant […]

April 5, 2022April 5, 2022 Marc DerfoldyCapital Gains Tax, Income Tax Act, Investments, Personal Income Tax, Tax Administration Act

Assessed losses under the Income Tax Act

Section 20(2) of the Income Tax Act defines an “assessed loss” as “any amount by which the deductions admissible under section 11 exceeds the income in respect of which they […]

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 […]

January 25, 2022January 25, 2022 Marc DerfoldyPersonal Income Tax, Tax Administration Act

INDIVIDUAL ITR12 RETURN FOR DECEASED AND INSOLVENT ESTATES

SARS has published an updated 57-page guide explaining the principles and procedures to follow when submitting an INDIVIDUAL ITR12 RETURN FOR DECEASED AND INSOLVENT ESTATES. The purpose of this document […]

January 4, 2022January 4, 2022 Marc DerfoldyIncome Tax Act, Investments, Personal Income Tax, Tax Administration Act

Deduction for Photovoltaic Solar Energy Plants

Reference Acts Income Tax Act, as amended Tired of high electricity costs and the dreaded load shedding disaster affecting your business? It’s time to consider use of solar power solutions […]

November 30, 2021November 29, 2021 Marc DerfoldyEmployment Tax Incentive, Income Tax Act, Personal Income Tax, Tax Administration Act

Expat tax

If you’ve recently moved abroad from South Africa for work, there are a few things you’ll need to keep in mind in 2021 as a resident living temporarily abroad: the […]

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 […]

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 […]