Tag Archives: Tax

The Special Voluntary Disclosure Programme Begins – What’s Changed?

We recently discussed the Special VDP which lets non-compliant taxpayers voluntarily disclose offshore assets and income in order to regularise both their tax and exchange control affairs. As promised, here is an update for you on current changes to the … Continue reading

Posted in Tax | Tagged , , | Comments Off on The Special Voluntary Disclosure Programme Begins – What’s Changed?

Are You Struggling to Get Your Tax Refund?

There is a feeling that taxpayers are getting fed up over the amount of tax they have to pay. Add to this the adverse publicity SARS has received as one of the focal points of the current political struggles and … Continue reading

Posted in Tax | Tagged , , | Comments Off on Are You Struggling to Get Your Tax Refund?

SARS’ Plans to Tax Income Earned Abroad

As the law currently stands, if a South African tax resident works abroad for 183 days or more (of which 60 days must run consecutively) in a year, that person is not taxed locally on foreign based earnings. Treasury has … Continue reading

Posted in Tax | Tagged , , | Comments Off on SARS’ Plans to Tax Income Earned Abroad

The Special Voluntary Disclosure Programme:
Time is Running Out, and Automatic International Exchange of Tax Information is Kicking In

There has been widespread reporting that globally, revenue authorities are clamping down on tax havens. As from next month, tax authorities from over 50 countries (set to grow to over 100 by September 2018) will be automatically reporting to their … Continue reading

Posted in Tax | Tagged , , | Comments Off on The Special Voluntary Disclosure Programme:
Time is Running Out, and Automatic International Exchange of Tax Information is Kicking In

Must You Pay Tax on Bitcoin Transactions?

Bitcoin has become increasingly used in South Africa and there are some good platforms for its use. Although it has proved volatile (it fell 30% in value recently), its long term value has risen over the past decade. So is … Continue reading

Posted in Tax | Tagged , , | Comments Off on Must You Pay Tax on Bitcoin Transactions?

Tax Season Opened On 1 July: Here’s What You Need to Know, and Do

“Giving money and power to government is like giving whiskey and car keys to teenage boys” (P.J. O’Rourke) Once again tax season has opened for individuals, and whilst we can chuckle at jokes about the pain of paying taxes, they … Continue reading

Posted in Tax | Tagged , , | Comments Off on Tax Season Opened On 1 July: Here’s What You Need to Know, and Do

Why invest directly offshore?

Many South Africans are justifiably concerned that their retirement capital will be insufficient to meet their post-retirement needs. This concern is exacerbated by the recent downgrade to junk status, which has detrimental long-term investment consequences. But there is a bright … Continue reading

Posted in Farming | Tagged , , | Comments Off on Why invest directly offshore?

How Many Days A Year Do You Work For The Taxman?

In the last few years in particular we have been aware of tax increases. The Free Market Foundation measures how many days in a tax year it takes to pay our taxes (taking total taxes over total earnings – obviously … Continue reading

Posted in Tax | Tagged , , | Comments Off on How Many Days A Year Do You Work For The Taxman?

Are we headed for junk status or only tax increases?

“We have to show that we will stick to our undertakings on consolidation, but on the other hand we have got to be very mindful that fiscal consolidation in the absence of growth does damage growth further.”  (Finance Minister Pravin … Continue reading

Posted in Tax | Tagged , , | Comments Off on Are we headed for junk status or only tax increases?

Tax Time – October Updates

The New Tax Compliance Certificate Process Made Easy SARS has recently introduced a new Tax Compliance Status (TCS) process which will enable you to see at a glance your tax compliance status. You need to be on eFiling and to … Continue reading

Posted in Tax | Tagged , , | Comments Off on Tax Time – October Updates