Taxation Blog
2020/2021 Tax Guide
2020/2021 Tax Guide We are excited to launch our new electronic tax guide to assist you with the tax legislation. To access the PDF version please click here. Contact us to help you to be the best you can be! MD Annual Tax Guides
Safeguard yourself against possible dividend tax rate increases, CGT increases and VAT increases on 26th February 2020
With spending challenges and a shrinking tax base, many commentators are expecting a tough budget on the 26th February 2020. With individual tax rates already high, there are very few areas left to generate further revenue. The areas that may be targeted include...
SARS takes huge tech leap
Monday, February 3, 2020 The South African Revenue Service (SARS) has embarked on a journey that will see it embrace technological advancement. In a statement issued at the weekend, SARS said in the foreseeable future, its work will be informed by data-driven...
MD’s Top 10 Tax Savings Tips Pre Budget on 26th February
1. Did you know that the donations you make during your lifetime do not form part of your personal estate on death? And donations made by you up to R100,000 annually are exempt from donations tax? Therefore, you and your spouse should...
Start of 2019 Tax Season – what you need to know to save you time and costs!
1 July 2019 is the official start of the 2019 tax season and SARS is encouraging all taxpayers to use SARS e-filing channels to file their tax returns and avoid those never-ending queues at the SARS offices!!! Deadline Dates: Manual 2019 tax return submission (via a...
Environmental E-Alert – Carbon tax laws effective from 1 June 2019 – business be warned
View this full email courtesy of Webber Wentzel in your browser here. Carbon tax laws effective from 1 June 2019 - business be warned On 22 May 2019, President Cyril Ramaphosa assented to the long-awaited Carbon Tax Act, 2019, which was gazetted on 23 May 2019. The...
SARS: Changes on the statement of account
The SARS Payroll Statement Of Account (SOA) layout which can be requested on SARS e-filing has recently been updated to reflect more data which will assist taxpayers in reconciling their PAYE liabilities and to ease the understanding of the PAYE/SDL/UIF accounts. The...
So, you owe the taxman?! For how long can you be held liable?
So, you owe the taxman?! For how long can you be held liable? By Nicolene Schoeman-Louw "Introduction One of life’s few certainties is the payment of taxes. Bearing that in mind, we should ensure that we never find ourselves in a predicament to have an outstanding...
NOTICE TO ALL EMPLOYERS – W.As8 /Return of Earnings 2018 (February 2019 period)
Click here for our our full post of this article. The 2018 W.As 8 Return of Earnings for Compensation for Occupational Injuries and Diseases Act(COIDA) submission deadline is scheduled for 31 May 2019. Workmen’s Compensation website will only be open for transacting...
SAICA’s 2019 Budget commentary
Click on the image below for SAICA's 2019 Budget Summary document:
2019/2020 MD Tax Guide
Below is our latest MD electronic Tax Guide to assist you with the tax legislation - for the 2019/2020 tax year. Click below to access the Tax Guide: Please contact us at the office on +27 (0)21 683 4834, should you require any assistance relating to the information...
SARS has extended the (Employee Tax Incentive) ETI scheme for another 10 years to 28 February 2029
The ETI scheme was implemented from 01 January 2014 and allows qualifying employers to deduct an incentive for each qualifying employee from the total PAYE payable for the month. A qualifying employer is an employer who is registered for PAYE and is tax compliant with...
CORPORATE INCOME TAX RETURNS – PENALTIES WILL BE IMPOSED FROM 07 DECEMBER 2018
SARS eFiling App and MobiSite are now available to help taxpayers file their returns
The SARS eFiling App and MobiSite are now available to taxpayers who would like to file their personal tax returns via their mobile devices. The mobisite is also accessible to blind and visually impaired taxpayers. The App is available for both Android and iOS mobile...
Employee’s Tax information required for 1st provisional return for 2019
We are in the process of preparing the first provisional tax returns for the 2019 tax year, due for submission to SARS by 31 August 2018. 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 to complete VAT submissions with 2018 changes
As you are aware the VAT rates were increased from 01 April 2018 from 14% to 15%. This will impact your March/April VAT submissions which would have both 14% and 15% sales and inputs. Attached please find a template which would assist you with the completion of this...
Urgent payroll matters to be actioned in April and May 2018
There are a few important payroll related matters to be actioned during April and May 2018: Increase in SARS official rate of interest – 1 April 2018 On 28 March 2018, SA Reserve bank announced the increase of the Repo rate to 6.50% p/a. With effect from 1 April 2018,...
NOTICE TO ALL EMPLOYERS – W.As8/ Return of Earnings 2017
The 2017 W.As 8 Return of Earnings for Compensation for Occupational Injuries and Diseases Act (COIDA) submission deadline is 31 May 2018. (This relates to the payroll tax year 01/03/2017 – 28/02/2018). Please note that the 2017 assessment period opened for...
SARS payment deadline – 29 March 2018
The deadline for outstanding tax returns and payments due by end March, is Thursday 29 March 2018 (the last working day before the Easter weekend). Due to the long weekend, SARS is requesting that taxpayers please pay by 12-midday to avoid penalties and interest....
Use Your Tax Cashflow to Build Your Wealth
With current marginal tax rates of 45% for an individual and a trust, we urge you, in addition to ensuring that you maximise your Retirement Annuity Contributions, to consider the highly tax efficient Section 12J (S12J) investments, particularly if you are selling a...