Category Archives: Tax

Budget 2020: Tips for Tito – Make Your Voice Count!

Every year the Minister of Finance asks us what we would like to see in the budget and a “Budget Tips” portal on the National Treasury website is open. This year he asks in particular for our views on “What … Continue reading

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Take Advantage of the Venture Capital Company Allowance While You Can

Here’s some good news in the form of a way to save tax (a lot of tax), make a good investment, and directly boost both our economy and our SMEs – all in one go. That’s where the VCC (Venture … Continue reading

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Your Tax Returns Are Due: Make Sure You Fill In Your Return Correctly

The last thing you need is to have the Taxman after you with his armoury of penalties and threats of criminal prosecution; and the likelihood of that happening if you put a foot wrong is higher than ever now with … Continue reading

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Youth Employment Tax Incentive Extended for Ten Years

There is chronic unemployment in the country and it is especially felt by the youth where up to 50% cannot find a job. The Employment Tax Incentive (ETI) is designed to encourage companies to employ “youths” (between the ages of … Continue reading

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How Many Days Did You Work For The Taxman In 2019?

“Tax Freedom Day is calculated by dividing general government revenue by GDP at market prices, then multiplying the result by the number of days in a year, and finally adding a day” (Free Market Foundation) In the current year it … Continue reading

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How Tax Returns Will Be Easier This Year, and Should You File if You Earn Under R500,000?

“Death and taxes may be inevitable but they shouldn’t be related” (J.C. Watts Jr)” Tax season 2019 begins on 1 August (1 July for taxpayers who are registered for eFiling or have access to the MobiApp) and SARS has taken … Continue reading

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Tax and Solar Energy Plants: Your Business Can Deduct the Costs Upfront

“If only there was some kind of an infinite power source that was free to use all day every day…” (Anon) In a recent binding ruling, SARS confirmed it will allow the cost of solar power units. The capital costs … Continue reading

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Small Businesses: Make The Most of Your Tax Breaks!

“There are two systems of taxation in our country: one for the informed and one for the uninformed.” (U.S. Judge Learned Hand) Whether you have recently started a new venture or have had a small business for a while don’t … Continue reading

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Sugar Tax: Good for the Taxman, Bad for the Sugar Industry

“If governments tax products like sugary drinks, they can reduce suffering and save lives. They can also cut healthcare costs and increase revenues to invest in health services” (World Health Organisation) The Sugar Tax was introduced last April and has … Continue reading

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