by Simone | Sep 1, 2021 | Tax
Tags: Tax Reading Time: 3 minutes Turnover Tax allows for South African small businesses to reduce their income tax rate from 28% to 0%. Taxation is instead levied on Turnover (net of VAT), calculated according to a sliding scale, as follows: Taxable turnover (ZAR)...
by Simone | Aug 18, 2021 | Tax
Tags: Tax Reading Time: 3 minutes SARS has recently made advancements to put the spotlight on individuals holding undeclared foreign financial assets. Thus far they have sent 275 wealthy South Africans letters regarding this. At this time, seeking the professional...
by Simone | Jul 21, 2021 | Tax
Tags: Tax Reading Time: 3 minutes SARS is known to levy heavy penalties for non-compliance where underestimated and late income tax payments are concerned. Interest is also imposed on taxpayers until their outstanding amount is paid in full. Depending on the severity...
by Simone | Jul 14, 2021 | Tax
Tags: Tax Reading Time: 3 minutes Due to the recent changes made to the tax residency rules in South Africa, it may be wise for individuals looking to emigrate to confer with their tax consultant on the possible need to prepare and submit provisional tax returns. The...
by Simone | Jul 7, 2021 | Tax
Tags: Tax Reading Time: 3 minutes With the rapid change many businesses made to their working environments, shifting their employees to work from home, individual taxpayers are increasingly seeking clarification on income tax breaks for home office costs. The short...
by Simone | Jun 30, 2021 | Tax
Tags: Tax Reading Time: 3 minutes As of 1 July, all South African companies are obliged to ensure that they are fully compliant with the requirements outlined in the Protection of Personal Information Act (POPIA). This obligation started its course in 2013 when...
