An amendment to the Income Tax Act will bring considerable change to the expat landscape as from March 1, 2020. Jean du Toit and Jonty Leon are the technical editors of the publication “Expatriate Tax – South African Citizens Working Abroad and Foreigners in South Africa”.
The February payment is the most crucial for provisional taxpayers – and don’t assume that you aren’t one. Taxpayers who earn additional income such as rental, trade or interest income have an important date with the taxman at the end of February. It is the time when they have to submit their provisional tax return […]
A Fin24 user planning to use their provident fund to emigrate wants to know whether they will be taxed after the first R22 500.
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.
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 […]
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.
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.
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 […]
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 […]
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.