August 30th, 2019|Comments Off on SARS Filing a Return on my behalf?
SARS has recently announced that they will file your return for you! Because they have access to already provided information on their system. But with that said, [...]
August 20th, 2019|Comments Off on Venture Capital Companies
What is 12J and how does it work? Section 12J is woven into South Africa’s Income Tax Act and enables investors to provide much-needed capital to Small-to-Medium [...]
August 8th, 2019|Comments Off on VAT, Transfer Duty And Fixed Property
VAT, Transfer Duty And Fixed Property Value Added Tax is a tax on the value added by each Vendor in the production chain and is imposed each [...]
July 30th, 2019|Comments Off on The Why, What, Who and How of Employment Tax Incentives (ETI)
EMPLOYMENT TAX INCENTIVE (ETI) Why is there an ETI? Millions of young South Africans are excluded from participating in economic activity, and as a result suffer disproportionately [...]
July 24th, 2019|Comments Off on R500k Threshold, what does this mean?
Many people are asking this question around this concept, and there is an ongoing misconception that the R500k threshold means that if you earn less than R [...]
July 18th, 2019|Comments Off on Subsistence Allowance
Subsistence Allowance – Local A subsistence allowance is paid by the employer whenever the employee travels for business purposes and need to spend at least one night [...]
July 3rd, 2019|Comments Off on TAX SEASON OPENS FOR EFILERS AND USERS OF SARS MOBIAPP
PRETORIA, Monday 1 July 2019 – Deputy Finance Minister, Dr. David Masondo, and the Commissioner for the South African Revenue Service (SARS), Mr. Edward Kieswetter, have launched [...]
June 4th, 2019|Comments Off on Rental Pool Schemes
Special rules apply with regard to the VAT treatment of rental pool schemes. For convenience and simplicity, in this Chapter – the words “owner” or “owners” are [...]
May 28th, 2019|Comments Off on Tax Deductions Often Overlooked or Missed?
The most common Tax deductions that are overlooked or missed by most individuals: Donations If you are donating to a registered PBO (Public Benefit Organisation) you can [...]
May 21st, 2019|Comments Off on What is a dividend, dividend tax and when is it exempt from tax?
A dividend is a payment made by a corporation to its shareholders, usually as a distribution of profits. When a corporation earns a profit or surplus, the [...]
May 14th, 2019|Comments Off on Commission Earners and Expense Claims.
Commission Earners Did you know that you are able to claim expenses incurred in the production of your income? Should your commission income exceed 50% of your [...]
May 6th, 2019|Comments Off on 2020 Budget – What you need to know
On 20 February 2019, the South African Minister of Finance Tito Titus Mboweni delivered the South African budget speech for the 2019/2020 year. This is the first [...]