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 of their annual return. Provisional tax allows the […]
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 to adopt the stance of working from home remotely during the lockdown period. As […]
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 luxurious lifestyle, however are unable to demonstrate how this lifestyle is maintainable based on the income that […]
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 taxes in order to avoid dire consequences, such as penalties and possible criminal sanctions. Amendments […]
