Source: SARS Guide on Income Tax and the Individual, 25 June 2022 version This article is part of a series of articles providing basic insight into the tax affairs of […]
SARS
Rules for the taxation of interest payable by SARS under Section 7E of the Income Tax Act
I, for one, never wish to pay SARS more tax than necessary. In fact, we pay too much in comparison with worldwide averages. This article explains how Section 7E of […]
Section 13 of the Income Tax Act No. 58 of 1962 – property investment and tax relief
It’s not often that SARS offers tax relief but when it is presented as an option it should be used without delay. Within Section 13 of the Income Tax Act […]
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 […]
Tax on Foreign Earnings
National Treasury announced earlier on 2019 that it intends to change the provision in the tax law that exempts South African tax residents from paying tax on income from foreign […]
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 […]
Capital Gains Tax
Capital Gains Tax (CGT) was introduced in South Africa with effect from 1 October 2001 (referred to as the “valuation date”) and applies to the disposal of an asset on […]