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 […]
Personal Income Tax
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 […]
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 […]
Foreign Employment Income Tax
Relevant Legislation: Income Tax Act No 58 of 1962, Section s10(1)(o)(ii) and section 9H On 1 March 2020, changes to the exemption for foreign employment income in s10(1)(o)(ii) of the […]
TAX ON INHERITANCE, DONATIONS AND A DECEASED ESTATE
In 2018 the Estate Duty rate increased from 20% to 25% on dutiable amount of estates of more than R30 million. When a person dies, the deceased person and all […]
Tax exemption for foreign employment income
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, […]
SARS’ Official Functions
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 […]
Tax Avoidance vs Tax Evasion
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 […]
SARS and Tax Assessment Prescriptions
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 […]
Tax filing season starts on 01 July
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 […]