Understanding provisional tax estimates and payment rules are important to avoid unnecessary penalties and interest. This article gives a brief overview of some of the basic concepts in this regard, which provisional taxpayers must be aware of.
Avoid administrative penalties and diarize the dates for the filing season.
All employers must please take note of the following very important facts regarding the 2021 Employer Annual Reconciliation (EMP501).
The deadline for financial emigration has come and gone but emigrants can still access and transfer retirement funds offshore if they have been tax non-resident for 3 years. Tax emigration, however, is not a straightforward process and it has implications that you need to consider before making any decision.
Huiswerkers is nou geregtig om by die Vergoedingskommissaris (WCA) te eis in geval van ‘n besering, siekte of afsterwe aan diens. Werkgewers van huiswerkers is verplig om hulself en hul huiswerkers by WCA te registreer en jaarliks die assesseringsopgawes in te dien – selfs al is u huiswerker net tydelik in u diens.
On 15 January 2021, the president has signed new tax and finance-focused bills into law, including the Taxation Laws Amendment Act (TLAA), and the Tax Administration Laws Amendment Act (TALAA). These Acts came into effect on 20 January 2021.
The Office of the Tax Ombud plays a vital role to ensure fair administrative justice in South Africa, as far as tax related matters are concerned. It can assist taxpayers in resolving complaints against SARS which is of a service, procedural or administrative nature.
The time of disposal is an important core rule which dictates when a capital gain or capital loss must be brought to account for Income Tax purposes.
Everybody knows The South African Revenue Service (SARS) is under collection pressure and they have grown rather fond of appointing 3rd parties, such as banks, to recover outstanding tax debts directly, which leaves taxpayers stunned.
Whether you are earning Dollars, Euros or Yen, as a South African resident, it’s more than likely you’ll have to pay tax in South Africa on this income.
