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 […]
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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 the recent budget allocation, the South African Revenue Service (SARS) has been granted a significant injection of R7.5 billion to bolster its operations. With the Commissioner at the helm, this capital boost signals a clear intention: to intensify revenue collection and enforcement efforts across previously under-regulated sectors. One such sector now squarely in the
Influencers in the Firing Line as SARS Collection Intensifies 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 »
Is it the same thing? No. In South Africa, businesses and individuals often face the need to file different types of returns with various regulatory bodies. Two key returns that entities must be familiar with are those submitted to the South African Revenue Service (SARS) and the Companies and Intellectual Property Commission (CIPC). While both
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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 »
RSA Government bonds give interest as earnings. Depending on when you scheduled to receive your interest, your interest will either be re-invested until maturity, or accrue to you semi-annually or monthly. The interest you earn from the bonds will have a portion that is tax exempt. For instance, if you invested R50,000 today on a
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