May 11, 2023
While there are very few tax breaks for individuals, some huge ones are available for retirement funding Retirement tax breaks in South Africa are designed to […]
May 11, 2023
The tax credit for individuals installing solar panels is here, for a limited time only. The proposed new law regarding the tax credit available to individuals […]
April 21, 2023
Check, check, and check again… THE SARS e-filing system has come a long way from its humble beginnings, and it is clear that the tax office […]
April 21, 2023
When an employer’s failure to upload an IRP5 brings SARS to a grinding halt. One of my clients has recently retired—and like all retirees, they went […]
October 21, 2022
Is the proposed two-pot retirement system ‘stirring the pot’ in the retirement fund industry? The draft tax legislation released by National Treasury on 29 July 2022 […]
September 13, 2022
Non-residents and earners of foreign income are also receiving extra attention this year The tax season for the 2022 tax year has just started, and it […]
August 22, 2022
Tax payable on your retirement lump sum In last month’s issue of Tax Breaks, we dealt with the tax treatment of retirement lump sums when one […]
February 23, 2022
When an individual ceases to be a South African tax resident prior to retirement from a South African retirement fund and becomes tax resident of another […]
December 2, 2021
With effect from 1 March 2016, and in terms of paragraph 2(l) of the Seventh Schedule to the Income Tax Act, all employer contributions to a retirement fund on […]
September 14, 2021
It was Nelson Mandela that famously said, “The youth of today are the leaders of tomorrow”. And although some years have passed since his death, his […]
March 15, 2021
The Seventh Schedule to the Income Tax Act lists various benefits that employers may grant to employees which will attract income tax for the employee, and require […]
March 15, 2021
Finance Minister Tito Mboweni delivered his third annual budget address on 24 February 2021. Below we highlight some of the significant proposals, which will likely be contained in the Draft […]
November 10, 2020
As payroll administrators ourselves, we encounter a few frequently asked questions that employers, business owners or those responsible for payroll administration within organisations struggle with. Below […]
October 14, 2020
Accounting has moved from pen and paper to the cloud, monthly payments can be done through online banking apps, and big purchases like houses and other […]
October 14, 2020
In late August 2020, a large credit bureau in South Africa was the target of a data breach where millions of private individual and company data records were compromised. This data leakage, coupled with the tax filing season, makes for the perfect opportunity […]