10 Key Highlights from the 2022 Budget Speech
The Minister of Finance, Enoch Godongwana, delivered his maiden Budget Speech this afternoon. Discussed below are 10 key highlights from the 2022 Budget Review.
Author Archive for: Tax Consulting South Africa
Entries by Tax Consulting South Africa
Tax Non-Residency And Property In South Africa
Tax Non-Residents can acquire and sell South African immovable property in South Africa as there are currently no restrictions prohibiting them from doing so. The only restriction is that illegal aliens may not own immovable property in South Africa.
How to Optimise your Tax Deduction with a Retirement Savings Vehicle
The start of a new calendar year is closely followed by the ending of a tax year and with this comes the anxiety and uncertainty of trying to determine whether your tax affairs are in order or how you can optimize your upcoming return. One of the tools in your armoury is the use of […]
You Are No Longer Residing In South Africa, But Did You Let SARS Know?
South Africans working abroad seldom follow the correct procedures when it comes to matters pertaining to tax. Most of the concerns originate from the uncertainties surrounding the ceasing of their tax residency, with many not even sure what the term really means. With the South African Revenue Service (SARS) on high alert for non-compliant expats, […]
Tax Directives: What You Need To Know
Many South Africans are unaware of the tax relief systems that are available to them through the South African Revenue Service (“SARS”). While recent legislative changes and enhancements have put a spotlight on tax directives, most taxpayers do not know what they are.
What Is A Tax Diagnostic?
Given the nature of finances, particularly the tax component of finances, it is fair to say that it is a complex and ever-changing part of life. No matter how up to date you think are, once you start relooking your tax obligations, you will probably find that things are never quite as rosy as they […]
3 Questions SA Expats Must Ask About Tax Residency
Access to current information has become the saving grace for expatriates. However, with the advent of social media platforms, came an accompanying surge of opportunistic advisors who unknowingly, and sometimes knowingly, mislead vulnerable expatriates in their quest for clarity, and in so doing, potentially harm their relationship with the South African Revenue Service (“SARS”).
SARS Eager To Employ Inexperienced Youth To Assist Confused Taxpayers
The South African Revenue Service (“SARS”) recently expressed its intentions to dive into its recruitment drive with renewed vigour. First on the block, is the employment of 250 young South Africans. This presents a grave concern for expats working, or planning to work, abroad.
Professional Negligence: Is Your Tax Consultant Acting In Your Best Interest?
Tax practitioners and accountants are tasked with delivering an extremely technical service for clients, while trying to minimise their exposure to unnecessary taxation and protecting their legal interests.
2021 Tax Proposals Signed Into Law – 5 Key Changes
The President has given effect to the 2021 tax proposals by signing three tax Acts into law. On 14 January 2022, the President gave his assent to the Rates and Monetary Amounts and Amendment of Revenue Laws Act No. 19 of 2021 (“Rates Act”), the Taxation Laws Amendment Act No. 20 of 2021 (“TLAA”) and […]