Accounting
August 2, 2024
Or can SARS use code 3702 to audit potential business kilometres travelled? I have often wondered whether SARS officials thoroughly review the submitted logbooks when taxpayers […]
July 3, 2024
Some vehicles you cannot claim VAT on, some you can—and knowing the difference can save you a lot of money. When can you claim input VAT […]
May 8, 2024
How to work out the taxable capital gain when disposing of share investments One of the underlying principles of Capital Gains Tax (CGT) is that a […]
April 2, 2024
South African businesses face unique payroll challenges. From strict regulatory requirements to the specific needs of a diverse workforce, managing payroll requires precision, understanding, and the […]
March 11, 2024
Business travel means different things to SARS than to taxpayers. While it has been compulsory for recipients of travel allowances to substantiate their claims by means […]
February 7, 2024
SECTION 20 of the Income Tax Act 58 of 1962 deals with the set-off of losses from a trade against other income. In general, such set-off is allowed (see sub-paragraph (1)(b)), provided that the loss is incurred in the taxpayer’s own name (i.e. not in a company, CC, or trust). The loss must also have been incurred with-in the Republic of South Africa to qualify for set-off.
February 7, 2024
Over the past five years, the SAFPS has seen a steady increase in the number of tax-related scams. Improved efficiency To improve efficiency when it comes […]
January 11, 2024
Sustaining losses on certain activities, blissfully assuming that SARS will chip in at year-end? Make sure that this loss is not ‘lost’ forever. Many people have […]
January 11, 2024
When can you deduct an expense? Section 11(a) contains the general principles One of the most-asked tax questions goes along the lines of “can I deduct […]
November 16, 2023
Navigating the complex world of corporate finance and tax regulations can be challenging for businesses. South Africa has recently undergone significant changes in its tax landscape, […]
November 16, 2023
The default marriage regime has some complicated tax consequences. When couples are caught up in wedding and honeymoon planning, visiting their attorney often takes a backseat. […]
November 16, 2023
How you can protect your assets from predators including SARS Trusts have received a lot of bad press over the past few years, what with SARS […]
October 4, 2023
As an employer, it is your responsibility to withhold tax from your employees’ salaries and remit it to SARS. Employee tax is a key component of […]
October 4, 2023
Landing in a position of indebtedness to SARS can be quite a stressful journey on its own ─ but if you forget to leave room in […]