Tax

Die implikasies van boedelbelasting

Boedelbelasting word, kragtens die Wet op Boedelbelasting, gehef op die belasbare waarde van die boedel. Die algemene reël is dat indien die belastingbetaler gewoonlik in Suid-Afrika woonagtig is ten tye van sy/haar dood, al die bates (insluitend eiendom geag eiendom te wees), waar ook al geleë, ingesluit sal word in…

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Tax terms used in the media: Do you know what they mean?

Reading material on the topic of tax does not make for light, relaxing reading. A reader can easily feel lost if he/she does not keep up to date with the meaning of the new terms and phrases which are introduced constantly by SARS. This article aims to explain the meaning…

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The link between CGT and Income Tax

The name “Capital Gains Tax” (CGT) can create the impression that CGT stands on its own as a seperate tax from the rest of the taxes but this is not the case. CGT forms part of the Income Tax system and capital gains and capital losses must be declared in…

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Zero rated vat: Exports and services to foreigners

It is often confusing to determine when to charge Value Added Tax (VAT) on goods or services at zero rate (0%) instead of the standard rate of 14%. Below are some basic examples to illustrate the charging of the correct rate by South African VAT vendors. These are general illustrations…

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Provisional tax for individuals: Did you know?

Provisional tax is not a separate type of tax  but pre-payments on income tax for a specific tax year.  The aim of provisional tax payments is to help taxpayers to fulfil their tax responsibilities by spreading tax payments over a tax year. After SARS has assessed a taxpayer for income…

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Public benefit organisations: Profit from tax benefits

Organisations with philanthropic missions serving the general public may enjoy the benefit of SARS’ generosity if they have all their ducks in a row. There are, however, quite a number of requirements and stipulations which must be adhered to in order to qualify, and companies that want to apply, should…

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SARS prescription

Imagine the following scenario: a taxpayer named Andrew is on his annual vacation for four weeks. On the fifth day of his vacation, he is lying carefree in the sun with his toes wiggled into the warm beach sand.  A thought crosses his mind: perhaps he must check his email…

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