Monthly Archives: November 2016

EXPLAINING ZERO RATED VAT

Value-Added Tax, or VAT, is currently typically charged at 14% on all taxable supplies of goods or services rendered by registered VAT vendors. Taxable supplies exclude exempt supplies, such as providing financial services, residential accommodation or educational services (see section … Continue reading

Posted in Tax | Tagged , , | Comments Off on EXPLAINING ZERO RATED VAT

THE EFFECT OF THE NEW AUDITOR’S REPORT ON SMALLER ENTITIES

The new auditor reporting requirements are not just going to affect the audits of listed entities. This article highlights some of the considerations for smaller entities in terms of the requirements applicable to all entities and those that may be … Continue reading

Posted in Audits | Tagged , , | Comments Off on THE EFFECT OF THE NEW AUDITOR’S REPORT ON SMALLER ENTITIES

PERSONAL SERVICE COMPANIES

Natural person taxpayers who earns a salary have very few items of expenditure available to them which they may deduct for income tax purposes (section 23(m) of the Income Tax Act, 58 of 1962). Generally, the deductions which salaried individuals … Continue reading

Posted in Tax | Tagged , , | Comments Off on PERSONAL SERVICE COMPANIES

HOME OFFICE EXPENDITURE

With current day realities manifesting in ever increasing distances required to be travelled to get to an office, traffic congestion, etc. more and more employers are opting to give their employees the option of working from home. The proliferation of … Continue reading

Posted in Tax | Tagged , , | Comments Off on HOME OFFICE EXPENDITURE