Tag Archives: Tax

What you need to know about tax and work travel allowance in South Africa during Covid-19

Covid-19 has far-reaching effects for the South African taxpayer and, unbeknown to many, may be silently increasing their tax liability for the 2021 year of assessment.  There is a causal link between travel allowances (and the same applies to company … Continue reading

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What to expect this tax season as an individual taxpayer

The tax season is swiftly approaching. For many people, it’s a time of the year that they dread. When it comes down to it, tax can become complicated mess that involves a lot of maths and calculations that just doesn’t … Continue reading

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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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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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Government increases tax-free cap on foreign income

The concept of emigration is to be replaced by a verification process. South Africans who are working and living abroad have been given some relief with a slight increase in the tax-free cap on their foreign earnings. National Treasury introduced … 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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Belastingbeplanning: Minder ja, maar nie niks nie

Belastingbeplanning is noodsaaklik om te verseker dat jou welverdiende Rande, binne alle wette en regulasies van die Suid-Afrikaanse Inkomstediens en die Inkomstebelastingwet, te rek vir die nabye toekoms maar ook vir jou goue jare. Dit is ‘n gegewe dat almal iewers belasting sal … Continue reading

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4 good reasons not to mix your business and personal finances

Freelancers, tradesman and other self-employed people easily fall into the trap of tangling their business and personal finances. Not only does this expose the business to several risks, it also creates a bookkeeping problem by failing to account for business … 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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