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Provisional Tax Explained

Provisional Tax Explained

What is Provisional Tax?  First and foremost, provisional tax is not a separate tax from income tax. It is a method of paying our relative income tax liability in advance, to ensure that the taxpayer does not remain with a large tax debt on assessment upon submission...

Home Office Expense Claims

Home Office Expense Claims

Can you deduct your home office expenses from tax?  The South African Revenue Services (SARS) have allowed workers working from home to claim expenses related to home office use, but only under specific circumstances. The Covid 19 pandemic has necessitated employees...

SARS Targets Wealthy Taxpayers

SARS Targets Wealthy Taxpayers

Dedicated High Wealth Unit Established....    South African Revenue Service (SARS) commissioner Edward Kieswetter has announced that the revenue collector has profiled and identified a number of high net worth individual who enjoy the benefits of a lavish and...

Expatriate Tax and What You Need To Know

Expatriate Tax and What You Need To Know

South African Expats Beware...   South Africans working or living abroad can no longer avoid the proverbial grasp of the South African taxing authorities (SARS). Expatriates need to be aware of the recent amendments made to the current laws governing expatriate...

Tax Penalties and Interest

Tax Penalties and Interest

Are you incurring penalties and interest? Penalties and interest are SARS’ best friends. Specific forms of non-compliance in regard to your taxing affairs may lead to the imposition of penalties and interest by SARS. Irrespective of the mistakes made by the taxpayer,...

Tax Compliance or Jail

Tax Compliance or Jail

Unaware of taxing rules and regulations? The claim that taxpayers are unaware of an aspect of South Africa’s taxing rules and regulations will no longer be an excuse for non–compliance. Ignorance in regard to your tax status and compliance may lead to hefty fines and...

Going Concern and Liquidity and Solvency

Going Concern and Liquidity and Solvency

Going Concern and Liquidity and Solvency Let’s be honest, most business owners have no idea what the title of this blog even means! If you’re one of those business owners, it’s a good idea to start taking these strange words seriously. They’re not that difficult to...

The PI-Score

The PI-Score

What is the PI-Score? The PI-Score or Public Interest Score is a score that every company and close corporation should calculate annually, before compiling annual financial statements. This score determines how annual financial statements should be compiled, and if a...

POPI Act – Is it really THAT important?

POPI Act – Is it really THAT important?

What is the POPI Act? In order to promote the protection of personal information processed by public and private bodies, the Protection of Personal Information Act (POPIA or POPI Act) has been implemented by the South African government. The President has proclaimed...