PAYE Annual Reconciliation – Tax year 1 March 2023 – 29 February 2024
The Annual Reconciliation Declaration (EMP501) submission period has opened on 1 April 2024 with final submission deadline being 31 May 2024. The…
NOTICE TO ALL EMPLOYERS – W.As8 /Return of Earnings 2023 (February 2024 period)
The 2023 Return of Earnings (ROE) for Compensation for Occupational Injuries and Diseases Act (COIDA) submission deadline has been extended to 31…
PAYE Annual Reconciliation – Tax year 1 March 2023 – 29 February 2024
The Annual Reconciliation Declaration (EMP501) submission period has opened on 1 April 2024 with the final submission deadline being 31 May…
NOTICE TO ALL EMPLOYERS – W.As8 /Return of Earnings 2023 (February 2024 period)
The 2023 Return of Earnings (ROE) for Compensation for Occupational Injuries and Diseases Act (COIDA) submission deadline has been extended to 31…
Our new electronic 2024/2025 tax guide
2024/2025 Tax Guide We are excited to launch our new electronic 2024/2025 tax guide to assist you with the tax legislation. Please contact…
2024/2025 MD Tax Card
Click on the image below for MD’s current Tax Card: Prior years MD Tax Cards and MD Tax Guides…
Budget Speech 2024 | How it affects you and your business
Finance Minister Enoch Godongwana's 2024 Budget Speech presents a mixed bag for taxpayers and businesses alike. While there are no major new taxes…
MD’s Top Tax Savings Tips ahead of the Budget on 21st February 2024
With the upcoming Budget on 21st February 2024 and the end of the individual’s tax year looming on 29th February 2024, the following comprehensive…
Maximise Your Remuneration Planning and Save Tax | MD’s Top Tax Savings Tips ahead of the Budget on 21st February 2024
Maximise Your Remuneration Planning and Save Tax 1. Maximise your company car or travel allowance with a detailed logbook: If you have…
Maximise Your Wealth Planning and Save Tax | MD’s Top Tax Savings Tips ahead of the Budget on 21st February 2024
Maximise Your Wealth Planning and Save Tax 1. Donations: Donations made during your lifetime do not form part of your personal…
2nd 2024 Provisional Tax Information Request
We are in the process of preparing the second provisional tax returns for the 2024 tax year - due for submission to SARS by 29 February…
SARS change to Imports and new Advance Payment notification (APN) requirements from 1 December 2023
We refer to our communications sent by SARS in March 2023 relating to SARS’ move from their old customs platform to a new Registration, Licencing,…
SARS EMP501 Interim Submission – August 2023 period
The Bi-annual August 2023 PAYE reconciliation period is from 18 September 2023 - 31 October 2023. - All employers must prepare and submit their…
SARS New Customs Imports and Exports registration platform – RLA – are you correctly registered?
We refer to our communications sent in March 2023 relating to SARS’ move from their old customs platform to a new Registration, Licencing, and…
SARS EMP501 Interim Submission – August 2023 period
The Bi-annual August 2023 PAYE reconciliation period is from 18 September 2023 - 31 October 2023. - All employers must prepare and submit their…
New Requirements for PBO Donations
Public Benefit Organisations (PBO’s) play an important role in addressing the social, economic, and financial challenges in the South African…
1st 2024 Provisional Tax Information Request
We are in the process of preparing the first provisional tax returns for the 2024 tax year, due for submission to SARS by 31 August 2023. We…
AWARENESS CAMPAIGN – REGISTRATION OF TRUSTS FOR TAX PURPOSES
AWARENESS CAMPAIGN - REGISTRATION OF TRUSTS FOR TAX PURPOSES SARS has issued a Notice clarifying that all resident Trusts and Qualifying…
The Start of 2023 Individual Tax Season – What you need to know to save you time and costs!!
7 July 2023 is the official start of the 2023 Tax filing season – SARS is encouraging all taxpayers to use SARS e-filing channels to file their tax…
Interest Rate Changes | June 2023
Click on the link or the image below: Table 3 Interest Rate on Fringe…
Interest Rate Changes | May 2023
Table 3 Interest Rate on Fringe Benefit | download here Income Tax Act, 1962: Table of Interest Rates Table 1: Interest rates on…
NOTICE TO ALL EMPLOYERS – W.As8 /Return of Earnings 2022 (February 2023 period)
The 2022 Return of Earnings (ROE) for Compensation for Occupational Injuries and Diseases Act (COIDA) submission deadline has been extended to 31 May…
PAYE Annual Reconciliation – Tax year 1 March 2022 – 28 February 2023
The Annual Reconciliation Declaration (EMP501) submission period has opened on 1 April 2023 with the final submission deadline being 31 May…
Big changes to South Africa’s tax laws
New rules governing objections and appeals under the Tax Administration Act (TAA) were promulgated by the Minister of Finance on 10 March…
New PBO disclosure requirements for donation certificates
SARS has recently announced new requirements for the mandatory disclosure of Section 18A certificate information to SARS. (IT3(d) certificates for…
SARS email scams phishing for personal data
South African Revenue Service (SARS) has warned taxpayers to be aware of emails or SMSs that ask for personal, tax, banking, and eFiling details…
MD’s Top Tax Savings Tips ahead of the Budget on 22nd February 2023
With the upcoming Budget on 22nd February 2023 and the end of the individual’s tax year looming on 28 February, the following comprehensive…
MD’s Top Tax Savings Tips ahead of the Budget on 22nd February 2023 – Maximise Your Remuneration Planning and Save Tax
With the upcoming Budget on 22nd February 2023 and the end of the individual’s tax year looming on 28 February, the following comprehensive…
MD’s Top Tax Savings Tips ahead of the Budget on 22nd February 2023 – Maximise Your Wealth Planning and Save Tax
With the upcoming Budget on 22nd February 2023 and the end of the individual’s tax year looming on 28 February, the following comprehensive…
Updated Interest Rate Tables for January
SARS has published updated tables of interest rates. Copy of Table 3 Interest Rate on Fringe Benefit - 02.2023 These tables provide the average…
2nd 2023 Provisional Tax Information Request
We are in the process of preparing the second provisional tax returns for the 2023 tax year, due for submission to SARS by 28 February…
SARS has made a big change to help taxpayers
https://businesstech.co.za/news/business/647621/sars-has-made-a-big-change-to-help-taxpayers-what-you-need-to-know/…
Public benefit organisations: Proposed new requirements for section 18A receipts
"In a world buffeted by extreme weather events and social upheaval, assessing the performance of corporates has undergone a paradigm shift. No longer…
National Treasury and SARS refine “two pot” retirement proposals in response to feedback
After wide consultation, National Treasury and SARS have made some changes and clarifications to the original proposals on introducing a “two…
SARS Publishes Tax Guide for Small Businesses
SARS has published a tax guide for small businesses. The guide contains information about the tax laws and some other statutory obligations applying…
Personal Income Tax: Auto Registration will be initiated from October 2022
As the South African Revenue Service (SARS) has announced that automatic registration will be initiated for Personal Income Tax for an individual…
SOUTH AFRICA | System update: SARS no longer utilising IT14SD forms for corporate income tax verifications
"The South African Revenue Service’s (SARS) core function is the efficient and effective administration of tax Acts." Click on the image below…
SARS Guide on Taxation in South Africa 2022
SARS has published a Guide on Taxation in South Africa in 2022. It is a general guide providing an overview of the most significant tax legislation…
SARS EMP501 Interim Submission – August 2022 period
The Bi-annual August 2022 PAYE reconciliation period is from 19 September 2022 - 31 October 2022. All employers must prepare and submit their…
SARS email scams phishing for personal data
South African Revenue Service (SARS) has warned taxpayers to be aware of emails or SMSs that ask for personal, tax, banking, and eFiling…
Beware of SARS Auto Assessments
We refer to our recent email to you on 22 June 2022 - The Start of 2022 Tax Season - What you need to know to save you time and costs!! As…
The Start of 2022 Tax Season – What you need to know to save you time and costs!!
1 July 2022 is the official start of the 2022 Tax filing season – SARS is encouraging all taxpayers to use SARS e-filing channels to file their tax…
Companies: How Will the Reduced Tax Rate and Assessed Loss Rules Affect You?
What are the new assessed losses rules? Companies could previously offset the full balance of any assessed loss carried forward from a previous…
Working From Home And Possible Tax Deductions – Do You Qualify?
After 2 years of Covid, how has SARS aligned the tax deductions with the “new normal” with many South Africans still working from home…
TAX MATTERS: Ombud flags repeat taxpayer verification, dispute resolution delays and debt offsets as concerns for SARS
Post shared courtesy of: Marianne Merten | https://www.dailymaverick.co.za/ "Finalising income tax return verifications is one of three systemic…
PAYE Annual Reconciliation – Tax year 1 March 2021 – 28 February 2022
The Annual Reconciliation Declaration (EMP501) submission period has opened on 1 April 2022 with the final submission deadline being 31 May 2022.…
2022/2023 MD Tax Card is now available!!!
Click on the image below for MD’s current Tax Card for your easy referral (2022/2023): Prior years MD Tax Cards and MD Tax…
NB: EXCON changes in Budget
We have highlighted important changes for your easy referral: Tax-and-Exchange-Control-Alert-17-March-2022 Post shared courtesy of: Cliffe…
NOTICE TO ALL EMPLOYERS – W.As8 /Return of Earnings 2021 (February 2022 period)
The 2021 Return of Earnings (ROE) for Compensation for Occupational Injuries and Diseases Act (COIDA) submission deadline has been extended to 31 May…
SARS fixed tax rate on Retirement incomes – 2022/2023 tax year
With the change in legislation from 1 March 2022 onwards, taxpayers who have multiple sources of income and Retirement income will be contacted by…
Change in foreign investment allowance
During the 2022 budget review the Minister of Finance announced that the criteria for South African resident individuals investing abroad have been…
Budget Speech 2022 | How it affects you and your business
In his 2022 budget speech, Finance Minister Enoch Godongwana revealed a more positive picture for government’s finances. The South African Revenue…
Deceased Employee – responsibility of the Employer
Deceased Employee - the responsibility of the Employer: The Fourth Schedule to the Income Tax Act places various obligations on an employer in…
MD’s Top Tax Savings Tips ahead of the Budget on 23rd February 2022
With the upcoming Budget on 23rd February 2022 and the current economic climate (SARS will try to find every possible way to increase collections!),…
MD’s Top Tax Savings Tips ahead of the Budget on 23rd February 2022 | Maximise Your Remuneration Planning and Save Tax
With the upcoming Budget on 23rd February 2022 and the current economic climate (SARS will try to find every possible way to increase collections!),…
MD’s Top Tax Savings Tips ahead of the Budget on 23rd February 2022 | Maximise Your Wealth Planning and Save Tax
With the upcoming Budget on 23rd February 2022 and the current economic climate (SARS will try to find every possible way to increase collections!),…
2nd 2022 Provisional Tax Information Request
We are in the process of preparing the second provisional tax returns for the 2022 tax year, due for submission to SARS by 28 February 2022. We…
SARS: Public notice prescribing the particulars that a tax invoice must contain
On 10 December 2021, Government Gazette 45624, Notice 1594 provided a public notice prescribing the particulars that a tax invoice must contain if…
Tax Chronicles November 2021 | Misleading Advice to Expatriates
Tax Chronicles Issue 40 November 2021 Post shared courtesy…
Tax & Exchange Control Alert – 16 September 2021
Post shared courtesy of: Cliffe Dekker Hofmeyr Click on the image below for the full…
SARS EMP501 Interim Submission – August 2021 period
The Bi-annual August 2021 PAYE reconciliation period is from 13 September 2021 - 31 October 2021. - All employers must prepare and submit their…
How to reduce your tax payments and help those in need
Tax-Exempt-Institutions-S18A-Fact-sheet-2020-2021…
Guide on Income Tax and the Individual, General Guide on Taxation in South Africa 2021
Income Tax Guide on Income Tax and the Individual On 30 August 2021, SARS published the 2020/21 guide on income tax and the individual. The guide…
Taxpayers with outstanding returns summoned to face criminal charges
Taxpayers with outstanding returns summoned to face criminal charges South Africans abroad note. By Tax Consulting South Africa 24 Aug…
Taxing of income received in Trusts
If you have a Trust or are thinking about housing your assets in a Trust, you need to know who would bear the burden of the tax incurred on income…
New SARS Tax Relief Measures
EXPLANATORY NOTES ON THE EMERGENCY TAX MEASURES IN RESPONSE TO THE CONTINUING COVID-19 PANDEMIC AND RECENT UNREST IN THE COUNTRY - click…
The widening of Criminal sanctions
Post shared courtesy of: Patricia Williams | Partner Julia Choate | Senior Associate Bowmans South Africa Click on the image…
Extended COVID-19 TERS relief for certain categories of employees – Level 4 – now open!
The Department of Labour has now extended the TERS benefits/claims for certain sectors still being affected by the level 4 lockdown – these are…
1st 2022 Provisional Tax Information Request
We are in the process of preparing the first provisional tax returns for the 2022 tax year, due for submission to SARS by 31 August 2021. We…
How “healthy” are your SARS tax affairs?
Over the last 2 years, SARS has increased their focus on the modernisation of their systems to deter the general non-compliance by many taxpayers.…
Small mistakes or inadvertent errors could potentially land you in hot water with SARS
SARS has recently amended the rules relating to non-compliance transgressions which may land you in hot water with possible fines or even jail…
Small mistakes or inadvertent errors could potentially land you in hot water with SARS – including fines or even jail time – here is what you need to avoid!
A - 11 offences which could give rise to criminal liability, only if the taxpayer committed them with intent (offences that require…
Increase in UIF Contributions with effect from 1 June 2021
The Minister of Finance has issued an official notice to increase the monthly maximum remuneration for Unemployment Insurance Fund (UIF)…
Reminder – Deadline for February 2021 EMP501 Employer submission to SARS 31 May 2021
MD's email sent out for this post | https://bit.ly/3v2pMHo SARS is reminding Employers to submit the annual February 2021 payroll…
SARS and NPA: Joint media statement on prioritising tax crime
The Commissioner of the South African Revenue Service (SARS) – Mr Edward Kieswetter, and the National Director for Public Prosecution (NDPP),…
Extended COVID-19 TERS relief for certain categories of employees – 1 January 2021 to 15 March 2021 now open!
Email sent out for this post | https://bit.ly/3emUGnD The Department of Labour has now opened the claims for the period 1 January 2021…
NOTICE TO ALL EMPLOYERS – W.As8 /Return of Earnings 2020 (February 2021 period)
MD email sent out for this post | https://bit.ly/2Pn68pJ The 2020 Return of Earnings (ROE) for Compensation for Occupational injuries…
Tax evaders should face jail time to curb rising non-compliance – Judge Dennis Davis
Retired Judge Dennis Davis wants tax evaders to end up behind bars. He believes it will be a real deterrent as the idea of going to jail certainly…
Domestic employees will now be entitled to compensation if they are injured or contract diseases while on duty
With effect from 10/03/2021, ALL employers of Domestic employees are required to register with the Department of Compensation for Occupational Injury…
2021/2022 MD Tax Card is now available!!!
Click on the image below for MD's current Tax Card for your easy referral (2021/2022): Prior years MD Tax Cards and MD Tax…
Extended COVID-19 TERS relief for certain categories of employees
Email sent out for this blog post | http://bit.ly/38HkQOH The Department of Labour has announced that the extended period from 16…
MD’s Top Tax Savings Tips – Ahead of the Budget on 24 February 2021!!!
With the upcoming Budget on 24th February 2021 and the current economic climate (SARS will try to find every possible way to increase collections!),…
UIF launches e-compliance certificate system
The Unemployment Insurance Fund (UIF) is embracing technology in a big way and has finally launched its highly anticipated E-Compliance Certificate…
MD’s Top Tax Savings Tips ahead of the Budget on 24th February
With the upcoming Budget on 24th February 2021 and the current economic climate (SARS will try to find every possible way to increase collections!),…
Potential taxes to fund the vaccine. Be prepared and plan now before the Budget!
MD's email sent out for this post | https://bit.ly/36TMUNW With a tough budget expected on 24 February 2021 to fund the Pandemic losses…
FILING SEASON 2020: DEADLINE FOR ONLINE FILERS EXTENDED
https://www.sars.gov.za/Media/MediaReleases/Pages/28-January-2021-SARS-extends-Filing-Season-deadline-for-online-filers.aspx SARS…
2nd 2021 Provisional Tax Information Request
MD's email sent out for this post | https://bit.ly/3sBo92A We are in the process of preparing the second provisional tax returns for…
COIDA: EXCLUSION OF DOMESTIC WORKERS INVALID: Employers’ contributions cannot be backdated
COMPENSATION FOR OCCUPATIONAL INJURIES AND DISEASES ACT EXCLUSION OF DOMESTIC WORKERS INVALID Employers’ contributions cannot be…
TERS – FINAL opportunity to claim – Do not Miss out!
MD's email sent out for this post | https://bit.ly/3fJ76FB We have seen many changes with the COVID-19 Temporary Employee Relief Scheme…
Repayment of SARS Covid-19 Employees’ tax deferral – reminder of repayment obligation
MD's email sent out for this post | https://bit.ly/3d8jwp6 During April 2020 the president announced certain measures to assist…
SARS EMP501 Interim Submission – August 2020 period
MD's email sent out for this post | https://bit.ly/2HZH97R The Bi-annual August 2020 PAYE reconciliation period is from 15 September…
TERS – final opportunity to claim – Do not Miss out!
MD's email sent out for this post | https://bit.ly/31dHuew We have seen many changes with the COVID-19 Temporary Employee Relief Scheme…
2020/2021 MD Tax Card
MD's email sent out for this post | https://bit.ly/2CxLJrC As we navigate these challenging business conditions and enter a period of ever-greater…
