Taxation Blog

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...

Deceased Employee - the responsibility of the Employer: The Fourth Schedule to the Income Tax Act places various obligations on an employer in respect of the withholding of employees’ tax and the administrative requirements related thereto. What obligation rests on...

With the upcoming Budget on 23rd February 2022 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...

With the upcoming Budget on 23rd February 2022 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...

With the upcoming Budget on 23rd February 2022 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...

We are in the process of preparing the second provisional tax returns for the 2022 tax year, due for submission to SARS by 28 February 2022. We would, therefore, appreciate it if you could furnish us with either a copy of your latest payslip OR the total of your PAYE...

On 10 December 2021, Government Gazette 45624, Notice 1594 provided a public notice prescribing the particulars that a tax invoice must contain if the supply by a vendor relates to any enterprise contemplated in paragraphs (b)(vi) and (b)(vii) of the definition of...

Tax Chronicles Issue 40 November 2021 Post shared courtesy of:

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...