by Simone | May 19, 2021 | SARS, Tax
Tags: Income tax, SARS Reading Time: 3 minutes SARS (South African Revenue Services) is closing in on individuals who have purchased pricey cars or property in recent years if their declared income tax does not match this lavish lifestyle. Recently, finance minister...
by Simone | Feb 15, 2021 | Tax
Tags: Income tax Reading Time: 4 minutes Did you know that when emigrating, the month you leave South Africa has a significant impact on your income tax obligations? In the year of emigration, taxation can vary depending on how much time out of the tax year you were...
by Simone | Jan 20, 2021 | Tax
Tags: Income tax Reading Time: 3 minutes Ahead of the February 2021 income tax year end, we are shining a light on S12E of the Income Tax Act, applicable to entities meeting the SARS Small Business Corporation (SBC) rules. These income tax rules apply to entities...
by Simone | Oct 13, 2020 | Tax, MMS
Tags: Income tax, Tax Reading Time: 4 minutes Business Interruption cover has been highlighted recently when Cape Town restaurant, Café Chameleon, won their court battle against their insurer for losses suffered due to the Covid-19 pandemic and subsequent lockdown....
by Simone | Apr 14, 2020 | Tax
Tags: Income tax, Tax compliance Reading Time: 3 minutes Where a company in the ordinary course of business finds itself in a position that its taxable income is exceeded by income tax deductions, a tax loss arises. Once assessed by the South African Revenue Service...
