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 […]

July 1, 2021July 1, 2021 Marc DerfoldyCompanies Act, Income Tax Act, P.A.Y.E, Tax Administration Act

Fringe benefits and tax

Reference documents Income Tax ActIncome Tax Act Schedule 7Tax Administration Act What is a fringe benefit? Fringe benefits usually refer to non-cash benefits granted to employees, but do not constitute […]

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 25, 2021March 25, 2021 Marc DerfoldyCorporate Tax, Tax Administration Act, Value Added Tax

Notional VAT

Reference Acts and Documents Value-Added Tax ActSARS VAT Tax Form 264SARS Binding General Ruling (VAT)43 (BGR43)SARS Interpretation No. 49 – Notional VAT and second-hand property What is Notional VAT? Subject […]

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 […]

March 9, 2021 Marc DerfoldyCompanies Act, Income Tax Act, Investments, Non-profit organisation, Tax Administration Act

Non-profit organisation-related law and benefits in South Africa – article 2 of 2

In this second NPO-related article, we continue discussing some legal aspects of non-profit organisations and the benefits thereof. Please refer to article 1 of 2 as well. Applicable Laws • […]

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 […]

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 […]

December 14, 2020December 14, 2020 Marc DerfoldyCapital Gains Tax, Employment Tax Incentive, Income Tax Act, Tax Administration Act

Some changes made to the Taxation Laws Amendment Bill, 2020

Reference documentsTaxation Laws Amendment Bill, 2020 “TLAB” In October 2020, the Minister of Finance presented the Rates and Monetary Amounts and Amendment of Revenue Laws Bill, 2020, the Tax Administration […]

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 […]

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