Taxation Blog
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...
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 (TERS) applications and processes over the last 8 months, but we have still had success with most of our applications. The...
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 employers during the Covid-19 lockdown. One of these included a deferral of the monthly Employees’ tax due to SARS for qualifying...
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 2020 - 31 October 2020. - All employers must prepare and submit their declaration (EMP501) and employees’ IRP5’s to SARS...
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 (TERS) applications and processes over the last 4 months, but we have still had success with most of our applications. The...
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 SARS oversight, we have printed an updated, easy to use tax card which we are sure you will find useful. Please visit our...
MD Tax Card 2020/2021
MD Tax Card 2020/2021 - click on the image below. Prior years MD Tax Cards and MD Tax Guides here.
SARS Automatic Assessments for Individual Taxpayers
MD's email sent out for this post | https://bit.ly/2BIAf4i In line with SARS’ new “auto-assessment” process, SARS will be issuing assessments automatically to some taxpayers without submission of a tax return. Auto assessments will be based on data received from...
Working from home & possible tax deductions – do you qualify?
MD’s email sent out for this post | https://bit.ly/2ZWCyKo With the arrival of the Covid-19 international pandemic, more and more South Africans are adjusting to “the new normal”, with working from home becoming the current reality for many employees. As you may be...
NEWS JUST IN – COVID-19 TEMPORARY EMPLOYEE RELIEF SCHEME (TERS) HAS BEEN EXTENDED BY 6 WEEKS!
MD's email sent out for this post | https://bit.ly/2WHUZAw We all are breathing a sigh of relief as TERS is extended until 15th August 2020!...
1st 2021 Provisional Tax Information Request
MD's email sent out for this post | https://bit.ly/3hsOyt4 We are in the process of preparing the first provisional tax returns for the 2021 tax year, due for submission to SARS by 31 August 2020. We would, therefore, appreciate it if you could furnish us with either...
2020 Tax Season for Individuals
2020 Tax Season for Individuals With the Covid19 pandemic, SARS has delayed the official start of the individual tax season from 1 July 2020 to 1 September 2020 SARS is encouraging all taxpayers to use e-filing channels to file their tax returns and avoid those...