Taxation Blog
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 would, therefore, appreciate it if you could furnish us with either a copy of your latest payslip OR the total of your PAYE...
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. Your SARS compliance status also directly impacts Employment Tax Incentive (ETI) claims – in certain circumstances the...
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 time: Non-compliant transgressions How can we help you minimise the potential risk? The slightest mistake could now have dire...
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 wilfulness, where SARS has the heavier burden of proof): Submitting a false certificate or statement in relation to returns,...
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) contributions to R17 712 with effect from 1 June 2021 onwards. This means that the monthly UIF contribution per respective...
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 information to them on or before the deadline of 31 May 2021. Employers who comply fully, in turn, make it easier for their own...
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), Advocate Shamila Batohi, have agreed to further enhance collaboration and deal with key challenges of tax crime and...
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 to 15 March 2021 for specified sectors only (see Phase 1 below) Please note that only certain categories of employees can...
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 and Diseases Act (COIDA) submission deadline was extended to 31 May 2021. This return relates to the payroll tax year...
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 “concentrates the mind”. He says the fact that people own luxury cars and mansions, but pay very little tax is offensive,...
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 and Diseases (COIDA) and submit the necessary annual returns. This means that Domestic employees will now be entitled...
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 Guides here.
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 October 2020 to 31 December 2020 is now open. The claims for the period 1 January 2021 to 15 March 2021 will be opened at a later...
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!), we are expecting a tough Budget and increased taxes. The following comprehensive year-end tax planning guidance and...
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 online system. This will enable employers, small businesses and entrepreneurs to apply for a UIF 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!), we are expecting a tough Budget and increased taxes. The following comprehensive year-end tax planning guidance and...
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 and the roll-out of the vaccine we could potentially see increased taxes through Dividends Tax, Capital Gains Tax, Donations...
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 EXTENDS FILING SEASON PROVISIONAL TAXPAYER DEADLINE FOR ONLINE FILERS “SARS extends Filing Season deadline for online filers” – for more...
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 the 2021 tax year, due for submission to SARS by 26 February 2021. We would, therefore, appreciate it if you could furnish us...
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 backdated by Jaco Swart The Constitutional Court, on 19 November 2020, confirmed an earlier judgment of the High Court which declared the...