Tag Archives: SARS

Can Sars deduct tax debts from your bank account?

Section 179 of the Tax Administration Act, 2011 allows the South African Revenue Service (Sars) to issue a notice to a person who holds or owes money, including a pension, salary, wage or other remuneration, for or to a taxpayer, … Continue reading

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Estate planning: The role of your executor

You need to appoint someone with the right set of skills to ensure that the process runs as smoothly as possible.  Executorship is an onerous position and, given that an estate can take anywhere between six months and several years … Continue reading

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All taxpayers beware – 10 points from SARS

On 5 May 2020, the commissioner for the South African Revenue Service (SARS) provided a detailed account of projected revenue collection in light of the Covid-19 crisis, along with insight of what we can expect from the tax collector in coming … Continue reading

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SARS is changing the tax filing season due to the coronavirus – here’s what you need to know

The South African Revenue Service (SARS) has outlined changes to the coming tax filing season due to the impact of the coronavirus.  In a presentation on Tuesday (5 May), SARS commissioner Edward Kieswetter said that the season will be comprised … Continue reading

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Further tax measures to provide support

Finance Minister Tito Mboweni has provided more details on the second set of measures that are aimed at assisting individuals and businesses through the COVID-19 pandemic.  “There is a critical need for government interventions to assist with job retention and … Continue reading

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The lockdown: Impact on tax and unemployment related matters

There is no relief for the submission of tax returns. The President of South Africa, Mr Cyril Ramaphosa, recently announced a 21-day lockdown period from midnight on Thursday, 26 March until midnight on Thursday, 16 April 2020 due to the … Continue reading

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Budget 2020 highlights

“Ex Africa Semper aliquid novi,” winning requires hard work, focus, time, patience and resilience. Finance Minister Tito Mboweni delivered his National Budget Speech on 26 February 2020, leaving South African taxpayers pleased by the implementation of tax relief on personal income … Continue reading

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Complexities of loans between related parties

Loans between related parties are a common occurrence in the SME business environment. These loans arise due to various reasons, such as assets being sold on loan account; money being drawn out, trust distributions made or dividends declared on loan … Continue reading

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Does your SME owe SARS money?

Many entrepreneurs and business owners live in fear of the South African Revenue Services (SARS). In most cases, this fear is compounded by a lack of knowledge and failure to understand what is required. Yet most of the anxiety – … Continue reading

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Different VAT supplies and how it affects your VAT return

There are a few instances where VAT is not charged at the standard rate of 15%. In the following newsletter, we distinguished between the different supplies that attract VAT but does not necessarily have the impact of a standard rate … Continue reading

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