Category Archives: Tax

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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How Efficient is SARS Globally?

A recent World Bank and Price Waterhouse Coopers survey, amongst other things, ranks companies in 190 countries in terms of time taken to prepare and file tax returns. South Africa performs above average against its global peers. We improved by … Continue reading

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Directors: Watch Your Liquidity and Solvency!

Nothing is more demoralising than running into financial difficulties. Suddenly all your energies are focussed on survival rather than growing the business. The fun goes out of the organisation, rumours of retrenchment flourish and if management aren’t careful, the rumours … Continue reading

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Taxpayers: Good News in the Season of Good Cheer?

There are no important tax deadlines for December, so let’s look at some potentially great news for taxpayers. Could the “pay now, argue later” principle be repealed? The Davis Tax Committee (DTC) has recommended that taxpayers be given a Taxpayer … Continue reading

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What’s Behind the SARS Inquiry?

The Minister of Finance has announced that the President has agreed to an independent inquiry chaired by a judge to probe why SARS is missing its revenue targets – this year it is forecast to miss budgeted tax collections by … Continue reading

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