Category Archives: Tax

Tax Incentives to Invest in Small Business: The Clock is Ticking

National Treasury is reviewing all of its business tax incentives to determine to what extent they are contributing to policy objectives. One such incentive under review is the “Section 12J” incentive, which allows an investor a deduction of the full amount invested in a … Continue reading

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Employees Working from Home: What Tax Deductions Can You Claim?   

Working from home is part of our “new normal” and home offices are predicted to remain a permanent feature of many employment relationships in the future.  Both employees and their employers should be familiar with the tax angles, in particular the opportunity to claim tax … Continue reading

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Tax Season 2020 will be Easier Thanks to SARS’ New Approach!

SARS has announced changes to this year’s tax filing season, driven partly by its ongoing innovation program and partly by the Covid-19 pandemic. Whilst as author Margaret Mitchell pointed out there never is a convenient time for “death, taxes and childbirth”, SARS’ new changes offer time-saving … Continue reading

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Tax Freedom Day: How Many Days Did You Work for The Taxman in 2020?

“Tax Freedom Day” is a concept telling us taxpayers just how long we have to work every year to pay the Taxman his share before we start earning for ourselves.  Normally our “Freedom Day” gets later and later every year in … Continue reading

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Life Made Easier (and Safer) For Non-eFilers

When SARS have requested documentation from taxpayers who do not use eFiling, the taxpayers have had to take these documents into a SARS Branch. Now SARS have launched on online form that taxpayers can complete and upload with the documentation requested by SARS.  The online form … Continue reading

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Be Ready for a SARS Lifestyle Audit 

Being suddenly subjected to a SARS “Lifestyle Audit” is a nerve wracking business with the risk of penalties of up to 200%, backdated interest, and criminal prosecution.   What external sources of information does SARS have access to? How does SARS … Continue reading

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On a Lighter Note – Some Entertaining Tax Stories

UK Revenue officials recently released some entertaining excuses from taxpayers: One taxpayer claimed their mother-in law was a witch and had cursed them. Some said that hamsters and dogs had eaten the post. A taxpayer was up a mountain and … Continue reading

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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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