Taxation Blog

Our new electronic 2024/2025 tax guide

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 us should you like a complimentary printed version and we will arrange for it to be available for you when we next see you. To...

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Budget Speech 2024 | How it affects you and your business

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 nor direct increases in personal income tax rates, the absence of adjustments for inflation means taxpayers won't receive...

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2nd 2024 Provisional Tax Information Request

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 2024. We would therefore appreciate it if you could furnish us with either a copy of your latest payslip OR the total of your PAYE...

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SARS EMP501 Interim Submission – August 2023 period

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 declaration (EMP501) and employees’ IRP5’s to SARS reconciling the PAYE/SDL/UIF paid during the period 1 March 2023 to 31...

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SARS EMP501 Interim Submission – August 2023 period

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 declaration (EMP501) and employees’ IRP5’s to SARS reconciling the PAYE/SDL/UIF paid during the period 1 March 2023 to 31...

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New Requirements for PBO Donations

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 society. Section 18A of the Income Tax Act provides for a tax deduction of up to 10% of a taxpayer’s taxable income in respect...

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1st 2024 Provisional Tax Information Request

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 would therefore, appreciate it if you could furnish us with either a copy of your latest payslip OR the total of your PAYE...

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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 outstanding taxes and interest rates payable on certain refunds of tax (click to see): Interest rates charged on outstanding taxes, duties...

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Big changes to South Africa’s tax laws

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 2023. The new rules came into effect on the date of publication and, therefore, replace the ‘old rules’ promulgated in 2014 with...

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New PBO disclosure requirements for donation certificates

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 all section 18A donations received). The new IT3(d) certificates come into effect on 1 March 2023 and applies to all...

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SARS email scams phishing for personal data

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 indicating that taxpayers are eligible to receive tax refunds. Taxpayers may receive random emails which are made to look...

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Updated Interest Rate Tables for January

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 interest rates applicable to various tax matters, as follows: Table 1 – Interest rates on outstanding taxes and interest...

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2nd 2023 Provisional Tax Information Request

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 2023. We would therefore appreciate it if you could furnish us with either a copy of your latest payslip OR the total of your PAYE...

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SARS Publishes Tax Guide for Small Businesses

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 to small businesses. It describes some of the forms of business entities in South Africa, namely sole proprietorships,...

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SARS Guide on Taxation in South Africa 2022

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 administered in South Africa by the Commissioner for SARS, including the: Customs and Excise Act; Disaster Management...

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SARS EMP501 Interim Submission – August 2022 period

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 declaration (EMP501) and employees’ IRP5’s to SARS reconciling the PAYE/SDL/UIF paid during the period 1 March 2022 to 31...

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SARS email scams phishing for personal data

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. Taxpayers may receive random emails which are made to look as if they were sent from SARS but which are fraudulent emails...

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Beware of SARS Auto Assessments

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 discussed, SARS will again be issuing ‘estimated’ assessments automatically to some taxpayers without the submission of a tax...

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NB: EXCON changes in Budget

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 Dekker Hofmeyr

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Change in foreign investment allowance

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 expanded. In addition to the annual R10 million foreign investment allowance, tax-compliant South African resident...

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Budget Speech 2022 | How it affects you and your business

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 Service took in R182 billion more than expected in the past year. These stronger revenues allowed the Minister to...

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