This first article, in a series of articles, discuss the basics of taxation of farming before delving in to more precise detail to be found in future articles. Source: SARS.GOV.ZA […]
Taxpayer
High wealth individuals and SARS disclosure
SARS increases its focus on wealthy individuals and offshore holdings The South African Revenue Service (SARS) is committed to its strategic intent to develop and administer a tax and customs […]
Value-Added Tax Modernisation
SARS published a discussion paper for Value-Added Tax Modernisation in September 2023. The discussion document seeks to achieve the following: The modernisation will impact businesses that are registered or required […]
Carbon tax rate increase
– Extension of phase 1, and change of implementation date for phase 2 In the 2022 Budget, the first phase of the carbon tax was extended by three years from […]
Tax Guide for Small Businesses
SARS published an updated guide in 2022. It contains information about tax laws and some other statutory obligations applying to small businesses. It describes some of the forms of business […]
Employees’ tax – Personal Service Providers and Labour Brokers
Source: SARS INTERPRETATION NOTE 35 (ISSUE 5) This Note discusses the employees’ tax implications and the deductions that may be claimed by a personal service provider or a labour broker. […]
Employees’ tax (PAYE) on your pension or annuity
Source: SARS FAQs What Is a Pension?A pension is a type of retirement account that some companies offer their employees. Your employer will create and maintain a pension fund for […]
Understanding how SARS imposes admin penalties
The purpose of imposing administrative non-compliance penalties is to ensure: Admin Penalties for PAYE Administrative penalties will be imposed for PAYE where an employer has failed to submit an EMP501 […]
Tax Obligations of Home Owners Associations (HOAs)
A Home Owners Association (HOA) is an association of persons formed for managing the collective interests common to all its members, regarding the expenditure applicable to the common immovable property. […]