Are you a business owner in South Africa who is unsure about whether you need to register for value-added tax (VAT)? If so, you’re not alone. VAT registration can be a confusing and complex topic, and it’s important to understand your obligations as a business owner. In this blog post, we will provide an overview
VAT Registrations – Most Common (and important) Questions Answered Read More »
The South African Revenue Services (SARS) has announced that taxpayers will be able to file their tax returns from 1 July 2022. SARS said that the other important dates that taxpayers should be aware of the following deadlines: For companies, within 12 months of their financial year-ends; For all other taxpayers – including natural persons,
Individuals can start filing taxes from 1 July 2022 Read More »
With more and more people working from home, it’s important to understand how this could impact your tax returns. In South Africa, you may be eligible to claim home office expenses as a deduction on your tax returns if you meet certain qualifications. Here are some key things to know: Eligibility Requirements: To qualify for
How Working from Home Can Save You Tax in South Africa Read More »
August and February are provisional tax months and everywhere we go we are bombarded with SARS advertising campaigns reminding you to submit your provisional tax return on time. These campaigns run by SARS are usually a very effective reminder for the majority of taxpayers to keep our taxes up to date. Then there are those
Provisional Tax Demystified Read More »
1 July 2015 announced the start of the 2015 filing season for Individuals.
2015 Filing Season for individuals kicked off Read More »
SARS introduced a new supplementary declaration – known as an IT14SD – in which the taxpayer is expected to reconcile its annual financial statements and tax return to other documentation previously filed with SARS with regards to, among others, VAT and Employees tax (PAYE). This may sound simple, but this is not an easy request for such a complex reconciliation.
Introducing the SARS IT14SD form Read More »
Tax deductions have become a talking point ever since Trevor Manual’s 13-year term as Finance Minister. He introduced Capital Gains Tax and Residence Based Tax in an attempt to ‘spread it around.
Should I invest in a Retirement Annuity Read More »
Many businesses are classified or are being labeled as Small to Medium sized enterprises (SME’s). Do you however know that SARS has a specific tax incentive for Small Business Corporations and which businesses qualify.
How does a small business pay less tax Read More »
Do you own, or have you ever thought of opening a guesthouse or bed and breakfast? The following special allowances might just give you the nudge you need. As a “Hotel Keeper” as defined in the Income Tax Act, you may claim a special allowance against your taxable income.
Special Tax Breaks Available To Hotels, Guesthouses And B&B’s Read More »
Value Added Tax (VAT), for most of the Small Business market is payable every second month, although certain exceptions do exist where businesses pay VAT on a monthly basis.
NEW VAT Submission Deadline – Make Sure You Don’t Miss It Read More »
