Taxation Blog

Post shared courtesy of:  Cliffe Dekker Hofmeyr Click on the image below for the full article:  

The Bi-annual August 2021 PAYE reconciliation period is from 13 September 2021 - 31 October 2021. - 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 2021 to 31...

Tax-Exempt-Institutions-S18A-Fact-sheet-2020-2021

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 provides comprehensive guidance on income tax for individuals in terms of the Income Tax Act, 1962. (click to see) General...

Taxpayers with outstanding returns summoned to face criminal charges South Africans abroad note. By Tax Consulting South Africa 24 Aug 2021  11:29 Click here for the article: bit.ly/38lwsGR

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 received in the Trust. Please see the article linked below, and written by our Associate, Fatima Bapukee, on the taxing...

EXPLANATORY NOTES ON THE EMERGENCY TAX MEASURES IN RESPONSE TO THE CONTINUING COVID-19 PANDEMIC AND RECENT UNREST IN THE COUNTRY - click here As announced by President Ramaphosa on Sunday, new Tax relief measures have been introduced to aid Employers suffering the...

Post shared courtesy of: Patricia Williams | Partner Julia Choate | Senior Associate Bowmans South Africa   Click on the image below to read the article:

The Department of Labour has now extended the TERS benefits/claims for certain sectors still being affected by the level 4 lockdown – these are limited to the following:   Employers (as listed in Annexure A) who were unable to operate in full/partially due to the...

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...

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...

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...

  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,...

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...

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...

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...

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...