Time’s ticking for provisional taxpayers to submit Income Tax Returns
With just days left for provisional taxpayers to submit their returns, here is what they need to know to navigate the essentials and avoid penalties.
SARS
South Africa undertakes to implement Crypto-asset Reporting Framework
As global jurisdictions, including South Africa, gear up to implement the Crypto-Asset Reporting Framework by 2027, a new era of tax compliance and intensified efforts to combat crypto-related tax evasion is on the horizon.
Tax implications of cryptocurrency transactions
“SARS is tightening tax collection on cryptocurrency transactions, which makes it important to distinguish between events that will trigger income tax rates or CGT rates.” Thus notes Webber Wentzel’s Joon Chong and Lumen […]
Do I need to file an income tax return for the 2021 tax year?
Filing season opened on 1 July 2021, with a significant number of taxpayers being assessed automatically. Key dates to diarise: 1 July to 23 November 2021 – for non-provisional taxpayers filing online. 16 […]
SARS: Tax dodgers can run, but can’t hide
So called high-net-worth-individuals came under the spotlight during the announcement by the South African Revenue Service (SARS) of its preliminary revenue results on 1 April 2021 after a year of National COVID-19 lockdown […]
SARS: Tax dodgers can run, but can’t hide
So called high-net-worth-individuals came under the spotlight during the announcement by the South African Revenue Service (SARS) of its preliminary revenue results on 1 April 2021 after a year of National COVID-19 lockdown […]
SARS closing loopholes for high-net-worth individuals
“The days of wealthy taxpayers’ tax compliance status not being fully tested by SARS are well and truly over,” Peter Dachs, head of ENSafrica’s tax department writes in Business Day. According to SARS […]
Tax complaints – Who to turn to
The role of the Tax Ombud (OTO) is to review taxpayers’ complaints against SARS and help resolve them through mediation or conciliation. OTO’s CEO, Prof Thabo Legwaila, recently reiterated the importance of fairness […]
Tax complaints – Who to turn to
The role of the Tax Ombud (OTO) is to review taxpayers’ complaints against SARS and help resolve them through mediation or conciliation. OTO’s CEO, Prof Thabo Legwaila, recently reiterated the importance of fairness […]
Common errors with tax returns – SARS taking a tough stance on submissions
Various recent media reports commented on the planned changes to the tax legislation which could see common errors on tax returns resulting in jail time. “New draft legislation seeks to scrap the concept […]
Working from home – Can you claim from SARS?
“Amid some uncertainty, SARS has confirmed that full-time employees will be able to claim home-office expenses during lockdown. But you have to work from home for at least six months of the tax […]
Working from home – Can you claim from SARS?
“Amid some uncertainty, SARS has confirmed that full-time employees will be able to claim home-office expenses during lockdown. But you have to work from home for at least six months of the tax […]
Important pointers on contributing to registered charities
I had two dear friends who were just good people. One day they came to me and introduced me to their new cause; an orphanage taking care of young children. You do not […]
Recovery of tax debts – High Court trims SARS’s wings
If a taxpayer has outstanding tax debts (including penalties), the Tax Administration Act empowers the Commissioner for the South African Revenue Service (SARS) to appoint a third party, i.e. an employee of a […]
SARS eFiling deadline – The clock is ticking
The deadline for non-provisional taxpayers to file their tax return is just around the corner. Taxpayers have until 4 December to submit their return and avoid unwanted penalties and interest. SARS recently announced that […]
Section 12J companies – An investment tax incentive that is working for SA
In the December issue of MoneyMarketing, Jonti Osher and Dino Zuccollo, Section 12 fund managers of Westbrooke Alternative Asset Management give an overview of the current Section 12J market. Section 12J was introduced […]
Tax Ombud finds against SARS
In these times of rapidly diminishing action against wrongdoers, it is refreshing to read the Tax Ombud’s findings after an investigation into “…alleged delayed payment of refunds as a systemic and emerging issue.” […]
