NEWS | I WOULD LIKE TO EMIGRATE USING MY PROVIDENT FUND. HOW MUCH WILL I BE TAXED?
A Fin24 user planning to use their provident fund to emigrate wants to know whether they will be taxed after the first R22 500.
NEWS | SOME TAXPAYERS ARE MORE EQUAL THAN OTHERS
There is no shortage of reports in the public domain exposing high-profile individuals who are delinquent in their tax affairs, but it appears that SARS is not interested in bringing them to book.
NEWS | SUPREME COURT OF APPEAL CURBS ABUSE OF SECTION 24C
In the recent case of CSARS v Clicks Retailers (Pty) Ltd (58/2019) (2019) ZASCA 187, the Supreme Court of Appeal (“the SCA”) sided with SARS in its interpretation of section 24C of the Income Tax Act, No. 58 of 1962. Contractors and others who avail themselves to this provision should heed the permutations set by […]
NEWS | TREASURY, WE TOLD YOU SO
National Treasury held the annual Annexure C Workshop on 4 and 5 December 2019, where items for inclusion in the 2020 legislative cycle were discussed. (Un)surprisingly, the amendment to the foreign employment exemption was on the agenda, AGAIN.
NEWS | SOUTH AFRICAN TAXPAYERS MUST FAMILIARISE THEMSELVES WITH RELIEF FROM DOUBLE TAXATION
South Africans who are working abroad need to take note of a section in the Income Tax Act that allows them to claim a credit on their South African tax liability from any foreign taxes paid on the same income.
NEWS | EVERYTHING YOU NEED TO KNOW ABOUT COMPANY REGISTRATIONS
According to a recent article featured by Fin 24, South Africa is now ranked 84th out of 190 countries relating to comfort of doing business, compared to a very good position of 32nd in 2008. It is now rather obvious that dealing with technical business matters in your own capacity might not be in your […]
NEWS | NEW TAX LEGISLATION – NO REPRIEVE FOR ORDINARY TAXPAYERS
This week, on 26 November 2019, the National Assembly passed the latest tax bills, which is set to be promulgated by the President after it has been passed by the National Council of Provinces. On the face of it, some concessions have been made for individual taxpayers, but these offer cold comfort in the bigger […]
NEWS | A DEADLINE APPROACHES
The Section 12J Venture Capital Company (VCC) sector is fast approaching its moment of reckoning, as a sunset clause comes into effect in June 2021.
NEWS | KNOW WHEN YOUR TAX PRACTITIONER IS WORKING FOR SARS
SARS Views – Not a Law Unto Itself It is an unfortunate sight when tax advisors from varied backgrounds, but more so those who do not have a legal background, turn a blind eye to South African tax legislation and rather submit to the ever-dominating “views” of SARS.
NEWS | EXPAT TAX – WHAT YOU NEED TO KNOW
A recent amendment to section 10(1)(o)(ii) of the Income Tax Act, affecting South Africans working abroad, has resulted in major panic and concern. South African tax residents working abroad will now find themselves having to pay tax on their income insofar as it exceeds R1 million.