In order to prevent fraud, the South African Revenue Service (“SARS”) requires confirmation of new or any changes to existing banking details and will only process any refunds due once […]
Section 6A of the Income Tax Act[1] provides for a medical scheme fees tax credit (“MTC”), or rebate, which reduces the amount of income tax payable by a natural person […]
Annual Tax season is here, and Income Tax return submissions starts on the 1st of July 2018. We’ve taken the liberty of answering frequently asked questions individuals may have. The […]
Following the conclusion of the 2018 tax year, documents will be issued to you that must be retained for tax purposes. The following documents should, if applicable, be submitted to […]
Overview Section 19 of the FAIS Act states that financial statements must be submitted by all Authorised Financial Service Providers to the registrar, not later than four months after the […]
Employers should be aware that Employer Annual Reconciliation is due for submission at SARS from April 2018. If the relevant deadlines are missed, certain penalties will apply. Penalties are charged […]
BACKGROUND Section 7C of the Income Tax Act came into effect on 1 March 2017. This section specifically deals with Interest Free- or Low Interest Loans to Trusts. The aim […]
The need to become more technology proficient and being actively engaged in the scientific and technological innovation space, has become a top priority for a lot of companies because of […]
Provisional taxpayers are generally those taxpayers who earn income from sources other than a salary. In other words, PAYE is not deducted from these other sources of income on a […]