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Latest News
Address Unforeseen Threats Undermining Business St...
- 13 September 2024
- Business Advisory
Risk is an inherent part of running any business, yet many business owners overlook the importance...
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Valuation of Property
- 11 September 2024
- Accounting & Financial Reporting
Can the company reflect the potential new value of the properties on the balance sheet, or would the...
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Trust Year-end Change from 28 February
- 03 September 2024
- Tax Administration
A Group of companies’ structure includes a resident Inter Vivos Employment Incentive Trust. The trus...
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Tax Planning: A “Curse” or a “Necessity”?
- 03 September 2024
- Tax Administration
SARS instituted action against the appellants in terms of section 183 of the Tax Administration Act...
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Skills Development SARS Code 3718
- 21 August 2024
- Accounting & Financial Reporting
A private company granted vested share options to its employees. Prior to the pay out, the company o...
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Rent To Buy CGT
- 13 August 2024
- Accounting & Financial Reporting
In a rent-to-buy agreement, monthly payments reduce the final purchase price, and these payments mus...
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GAYE Contributions as a Deduction
- 07 August 2024
- Individuals Tax
A South African taxpayer who works abroad, makes contributions towards Give As You Earn (GAYE). SARS...
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7 Essential Tax Strategies for Small Business Succ...
- 06 August 2024
- Corporate Tax
Essential tax strategies for small business owners, emphasising the importance of tax risk managemen...
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Reliance on an Opinion to Mitigate Understatement...
- 05 August 2024
- Corporate Tax
One of the most daunting questions for a taxpayer who is issued with an understatement penalty asses...
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Interpretation Note 132
- 05 August 2024
- Tax Administration
This Note provides guidance on when, due to tax non-compliance, a person may not register as a tax p...
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Voluntary Disclosure Programme - Voluntary or Not?
- 02 August 2024
- Corporate Tax
Two of the fundamental requirements to access the VDP are that the disclosure must be voluntary and...
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Commission Earners who Earn More than 50%
- 25 July 2024
- Accounting & Financial Reporting
Commission earners who earn more than 50% of their total remuneration as the commission can claim ex...
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Incorrect IRP5 Certificate
- 25 July 2024
- Tax Administration
A client received R3,036,765 with R1,222,789.93 PAYE withheld, but the employer issued an incorrect...
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Three Wishes for Small Business Tax Incentives
- 24 July 2024
- Corporate Tax
The importance of the small business sector in the South African economy is well documented. Small b...
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Claiming Medical Expenses
- 23 July 2024
- Accounting & Financial Reporting
Under the Income Tax Act 58 of 1962, Section 6B(3)(c), taxpayers under 65 without medical aid can cl...
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Income Tax - Single Section 18A Receipt
- 23 July 2024
- Accounting & Financial Reporting
The sum of the multiple bona fide donations reflected in separate section 18A receipts must be the s...
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VAT: Prepaid Vouchers - BGR 72
- 18 July 2024
- VAT
SARS issued BGR 72 on 21 May 2024 to set the particulars that are acceptable in a credit note that t...
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Auto Assessments - Bank Details
- 15 July 2024
- Individuals Tax
SARS will issue auto-assessments from 1 July 2024 to taxpayers whose tax affairs are less complicate...
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2024 Filing Season
- 12 July 2024
- Individuals Tax
It is important to note that there are numerous changes for this year’s filing season as a result of...
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Payroll Considerations Managing New Employee Costs
- 09 July 2024
- Payroll
A client hired a new employee with a monthly cost to the company of R20000, without specifying if co...
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Check your Auto-assessment Status and Wait for the...
- 30 June 2024
- Individuals Tax
If you want to know if you are in the auto-assessment population this year, you can check your statu...
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Update on Changes for Filing Season 2024
- 28 June 2024
- Individuals Tax
SARS is continuing its journey towards building its vision of a smart, modern organisation with unqu...
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2024 Tax Filing Season Kick-off
- 27 June 2024
- Individuals Tax
Get ready for the 2024 tax season with key updates from SARS. Learn about important dates, new featu...
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Updated Guides for Filing Season 2024
- 25 June 2024
- Individuals Tax
The Personal Income Tax phase of Filing Season 2024 commences with the issuing of auto-assessments f...
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