Category Archives: Tax

Is SARS Attacking Your Medical Tax Credit?

Taxpayers and tax practitioners have in recent months been surprised to find their medical claim tax credits queried by SARS. Up to this year the processing of the tax credit has gone smoothly. To many taxpayers such as those with … Continue reading

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Taxpayers Note: How To Upload Supporting Documents Using eFiling

SARS have instructed that taxpayers on eFiling need to submit supporting documentation as follows: Files should be no more than 5mb each. You can upload up to twenty files. Document types need to be: Excel (xls or xlsx) or Word … Continue reading

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Beware the New Corporate Income Tax Penalties! And Your Tax Deadlines For November

There are only run-of-the-mill tax deadlines for November but companies need to take note of a new warning from SARS that it will be imposing administrative penalties from December 2018 for outstanding Corporate Income Tax (CIT) returns.  Until now, penalties … Continue reading

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Administrative Penalties for Corporate Income Tax (CIT) to be Imposed

SARS will be imposing administrative penalties from December 2018 for outstanding Corporate Income Tax (CIT) returns. Administrative penalties will be imposed on companies that receive a final demand to submit a return. In terms of Section 210 of the Tax … Continue reading

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SARS’ New Service Charter – A Positive Step

New management at SARS is trying to rebuild the institution as the world class organisation it once was. Amongst the outcomes it hopes to achieve in this tax year are increases: In public trust and credibility, In the ease and … Continue reading

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Your 2018 Tax Season Deadline: Brought Forward By Three Weeks?

“The best way to teach your kids about taxes is by eating 30 percent of their ice cream” (Bill Murray) The 2018 tax season for individuals opened on 1 July. Non-provisional taxpayers who use eFiling or file electronically at a … Continue reading

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When Do We Stop Working for SARS This Year?

It has become a global phenomenon measuring Tax Freedom Day, the day up to which you work to pay your taxes – only after Tax Freedom Day do you start working for yourself. In 2018 it takes us South Africans … Continue reading

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Bitcoin is Taxable!

SARS has released a media statement on Bitcoin in which it states that people dealing in Bitcoins or other cryptocurrencies are subject to normal Income Tax law in terms of gross income, tax deductions or Capital Gains Tax. SARS are … Continue reading

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Taxpayers: Why YOU Should Participate in this Local Survey by SAICA

The cost of tax compliance has recently been in the spotlight as SARS’ revenues have fallen and pressure is mounting on taxpayers to spend even more time on tax compliance. Reducing these costs will have beneficial effects on the economy: … Continue reading

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Sugar Tax: Is It Good For Us?

“This feels like a victory for Britain’s children” (celebrity chef Jamie Oliver commenting on news that a sugary drinks levy will be introduced in the UK in 2018)  Tax increases are on the way and Treasury has signalled that a … Continue reading

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