The South African Revenue Service (SARS) announced 15 July 2024 as the start of the Filing Season for provisional and non-provisional taxpayers who are required to file a tax return. Auto-assessments for an expanded pool of taxpayers started to run from the...
Tax filing season is upon us again. “Why should I bother checking my auto assessment tax return? It must be right.” Please don’t be fooled. Often SARS have the incorrect info and you may be able to get back more than you expected. If you have to file your own...
Recent discussions have highlighted confusion about the tax treatment of clothing goods in South Africa, especially concerning companies like Shein and Temu. It’s important to clarify that there has been no new tax increase on clothing goods. The existing tax rate for...
It is often at times of unrest or potential political change that South Africans step back and assess their situation! So, what can you do? Option One – Emigration Emigration is certainly an option and hundreds of thousands of South Africans have taken this route in...
There have been several articles recently on increasing numbers of South Africans returning to the country from abroad. For those doing so, there are several important considerations to keep in mind from a tax perspective. Understanding the tax obligations and...
The Finance Minister delivered his annual budget speech on 22 February 2023, and did not raise taxes. This was expected, given the state of the economy. The budget instead announced R13 billion in tax relief. Through an expansion of the Income Tax Act’s section 12B...
Emigrating from South Africa is a significant life decision that comes with a multitude of considerations, both personally and financially. Among these, understanding the tax consequences and ensuring compliance with the South African Revenue Service (SARS) is of...
In the web of life, contemplating the inevitable isn’t the most cheerful endeavour. However, preparing for what lies beyond the horizon is not only prudent but also an act of love for your family. When it comes to your hard-earned assets and how they move through...
In SA we have seen the repo rate increasing (now sitting at 6.25%). Although these rates are nowhere near the peak of 23.99% that we saw back in 1998, the country is experiencing high inflation with July 2022 inflation in SA at 7.8%. While there are some signs of this...
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