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, […]
Personal Income Tax
Goodwill – Capital Gains Tax and Accounting
This article discusses the basics of “Goodwill” from an accounting perspective. Relevant Legislation: Income Tax Act 58 of 1962 (as amended) Taxation Laws Amendment act 5 of 2001 (and various […]
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 […]
Carbon Tax
The Carbon Tax Act Number 15 of 2019 published in Gazette #42483 dated 23 May 2019 took effect on 01 June 2019. The Act may be downloaded here. South Africa […]
Employees’ tax in respect of an independent contractor
On 05 March 2019, SARS published an updated Interpretation Note 17 to determine whether a person is an independent contractor for employees’ tax purposes. Relevant Acts: The Fourth Schedule to […]
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 […]