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Here are some of the most important points, curated by MoneyPenny. It remains to be seen what impact this will have on poor households. The government have retained their zero-rated VAT on basic items such as maize meal, brown bread Continue reading BUDGET 2018 – WHAT YOU NEED TO KNOW
Click here to download the Government Gazette Notice. There is also a 5.8% increase in monthly pensions payable, from the same date.
The Income Tax Act No.58 of 1962 states inter alia that employers are required to: Pay the amounts over to SARS on a monthly basis. The deadline for the EMP501 submission for 2018 is 01 April 2018 – 31 May 2018. This Continue reading EMP501 ANNUAL SUBMISSION
Tax season is open for individuals, and SARS is encouraging citizens to use its eFiling system. While the eFiling system is simple and works as intended, users have encountered issues with the portal when accessing it via Google Chrome. Solutions Continue reading SARS eFiling not working with Chrome
The 2017 tax season will open for individuals on 1 July, and SARS has released some handy tips and information to make the process pain free for taxpayer. In preparation for tax season, taxpayers can start gathering all the supporting documents Continue reading 2017 tax season opens 1 July
The 2017 budget in a nutshell: VAT unchanged at 14%. Individual tax brackets have changed, with the introduction of the new marginal rate of 45% (up from 41%) Interest exemptions for individuals at R23 800 for under 65s Continue reading The 2017 budget in a nutshell
SARS Medical Aid Deductions Explained Written by Samantha Janse van Rensburg | Published: 17 March 2014 inShare Despite numerous hints and tips, not to mention “how to’s”, there are many South African citizens that don’t know how to properly complete their annual tax Continue reading What are SARS Medical Aid Deductions
16 highest-ranked reasons businesses are not keen on South Africa (in order, from most-cited): Inefficient government bureaucracy Restrictive labor regulations Inadequately educated workforce Policy instability Corruption Crime and theft Poor work ethic in national labor force Inadequate supply of infrastructure Continue reading Businesses rate problems with South Africa
SARS – the meaning of ‘exceptional circumstances’ Source In terms of s104 of the Tax Administration Act, No 28 of 2011 (Act), a taxpayer who is aggrieved by an assessment or decision of the South African Revenue Service (SARS), Continue reading SARS – the meaning of ‘exceptional circumstances’
‘We do have a plan, to: Manage our finances in a prudent and sustainable way, Re-ignite confidence and mobilize the resources of all social partners, Collectively invest more in infrastructure to increase potential growth, Give hope to our youth through Continue reading Budget 2016 Review