Natural persons, legal persons, and arrangements defined as persons IntroductionUnderstanding different taxpayers is fundamental to proper tax compliance. In the South African tax framework, a “person” is not limited to an individual. It includes natural persons, legal persons such as companies and close corporations, and certain arrangements that are defined as persons, including trusts, deceased […]
Understanding Different Taxpayers Read More »
Understanding Stokvels: Saving or Investing – Know Your Goal As the year begins, many individuals and families review their financial plans and look for practical, community-based ways to manage money. One of the most enduring and widely used financial structures in South Africa is the stokvel. While stokvels are often spoken about as a single
Understanding Stokvels: Are you Saving or Investing? Read More »
As we head into the festive season the temptations to “just swipe one more time” are at their peak. It’s important to understand one thing your bank will never warn you about: the difference between your Balance and your Available Balance is real. Your Balance is the money you technically have in your account. Think
The Struggle begins: Balance vs Available Balance Read More »
South Africa’s economy showed renewed momentum in the second quarter of 2025, with gross domestic product (GDP) rising 0.8% on a seasonally adjusted basis. This marks a stronger rebound compared to the modest 0.1% growth recorded in the first quarter, signaling that key industries are finding traction despite ongoing structural challenges. Key Drivers of Growth
South Africa’s Economy Picks Up Pace in Q2 2025 Read More »
An online Ponzi scheme operating under the name “Medical Digital Intelligence (MDI)” has left a trail of financial devastation across parts of Mpumalanga, spreading from Mkhuhlu to Hazyview and Bushbuckridge. Fraudsters allegedly promised high returns on investments in virtual pharmaceutical products, luring unsuspecting victims, mainly teachers and church members, into parting with their hard-earned money.
Online Investment Scam Leaves Many Devastated Across Mpumalanga Read More »
Every tax season, a new rumor spreads faster than gossip at a family braai. One of the most common? That being auto-assessed by SARS means you earn less. Let’s clear the air. Myth: “You were auto-assessed? Mtase, you must be broke.”Truth: Relax. Being auto-assessed doesn’t mean your wallet is empty. It simply means SARS has
Auto-Assessments: The Myths and The Truth Read More »
In a major decision handed down on 12 February 2025 in the case of Greyvensteyn v Commissioner for SARS and Others, the court confirmed that SARS has the constitutional authority to restrict a taxpayer’s right to travel if it’s necessary to secure unpaid taxes. Here’s what went down: – In 2023, SARS obtained a provisional
Can SARS really stop you from travelling? The law say YES! Read More »
December/Dezember whatever you call is often seen as the month of indulgence and celebration, more of a lifestyle to many in South Africa; but it can also wreak havoc on your finances if you’re not careful. With two-pots withdrawals, 13th cheques and other employee rewards coming up? here are some practical tips to ensure your
Personal Finance 101: December Edition Read More »
With the implementation of the Two-Pot system set to commence on September 1, 2024, many South African fund administrators, such as the Government Employees Pension Fund (GEPF), are enhancing their services to facilitate easier access to retirement savings. These enhancements often include the introduction of electronic tools like e-service portals, allowing members to manage their
Navigating the Two-Pot System: Safeguarding Your Pension Savings Read More »
In South Africa, the obligation to file a tax return is influenced by specific income thresholds and individual circumstances. Understanding these thresholds can help you determine whether you need to file a tax return. Here’s an overview of who is required to file a tax return in South Africa and how tax thresholds impact this
Who Needs to File Tax Returns in South Africa? Understanding Tax Thresholds Read More »
