The President has given effect to the 2021 tax proposals by signing the relevant tax Acts into law. With the promulgation of the Taxation Laws Amendment Act No. 20 of 2021 (“TLAA”), Government’s promise to scrap the exit tax on retirement interests has been confirmed, at least for now.
The North Coast of KwaZulu-Natal inspires with its complex palate of greens. From lush wood forests, and sugar cane fields to a cornucopia of fruit trees. My favourite is that of the young mango, which, when sliced and salted and offered up with vinegar and curry powder, serves as a time travel device to childhood. […]
Your business has grown well during the previous year, and it is set to perform even better in the coming year. The adoption of technology further aided in your business reaching consumers or suppliers in different countries. Your next step is importing and exporting, but you have no idea where to start.
The transition from the old emigration regime to the current regime – ceasing of tax residency, came with some relief. However, there were some silent changes that went unnoticed. The most notable change has been the requirement of a SARS Tax Compliance Status (TCS PIN) for every capital transfer a Non-Resident/Non-Tax Resident makes to offshore.
During 2021, many South Africans were forced to start their own businesses to put food on the table, while others changed from traditional employees to contracted remote workers. Whether they retained a reduced salary or wholly embraced the responsibility of being an entrepreneur, it is important for these individuals to understand how the South African […]
In preparing their submissions for the previous tax year, many taxpayers became aware of the true impact the last couple of years had on their finances. While some picked up minor discrepancies, others realised that their tax affairs were a mess. As 2022 kicks off, it is a brilliant time to address your tax concerns, […]
One of the most notable adjustments during the global lockdowns, has been the introduction of remote working policies for staff. While the world was in a pandemic-induced cocoon, companies and employers were forced to shift their operations online.
The South African Revenue Service (“SARS”) has made evident its no-nonsense stance in media statements over the preceding months and shown that actions speak louder than words in light of the recent judgements of the Pretoria High Court on the state capture loot, and Zuma’s tax records.
In March 2021, the new draft Critical Skills List (“CSL”) was published by the Department of Home Affairs (“DHA”) for public comment before finalisation. While there is much speculation on last-minute changes to the list, the inclusion of tax professionals is one that is likely to remain.
The SA Revenue Service (SARS) intends to change the way it calculates the effective tax rates of people who receive income from more than one source, one of those being a retirement fund. This will be introduced as from 1 March 2022. The aim is to prevent these taxpayers from accumulating large tax debts when […]