Income Tax Act

October 31, 2019October 31, 2019 fincorIncome Tax Act, Personal Income Tax

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, […]

August 31, 2019August 31, 2019 fincorIncome Tax Act, P.A.Y.E, Personal Income Tax, Tax Administration Act

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 […]

August 14, 2019September 20, 2019 fincorCarbon Tax, Income Tax Act

Draft Income Tax Amendment Bill – Commentary

SARS published an explanatory document of the Draft Income Tax Amendment Bill on 30 July 2019. This three page document summarises two aspects of the Draft Bill: REPEAL OF THE […]

June 25, 2019June 25, 2019 fincorCapital Gains Tax, Income Tax Act, P.A.Y.E, Pension Funds, Personal Income Tax, Provident Funds, Retirement

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 […]

March 12, 2019March 27, 2019 fincorBudgets, Income Tax Act, Personal Income Tax

Economic Terms and Tax Concepts — Fiscal Drag causing higher tax rates

It often occurs that certain actions (or inactions) by government may have undesirable consequences for members of the public without the public even being aware. One of the negative consequences […]