Tag Archivestax

budgettaxsq

Tax transgressions and pitfalls

SARS is committed to stamping out tax crime in South Africa, according to Ilsa Groenewald, Associate Director for tax at the Durban office of BDO South Africa, the audit, advisory and tax firm. Here, she reviews tax morality, common transgressions, and pitfalls. (more…)

Read full story

Tax Season 2017 Now Open

Tax Season 2017 officially opened on Saturday, 1 July 2017 for eFilers, and today for branch filers. Taxpayers can now commence completing and submitting their 2017 personal income tax returns for the 2016/17 tax year. (more…)

Read full story
Renier Nell

Three steps to choosing the right tax practitioner

While the introduction of E-filing by the South African Revenue Service (SARS) has slightly eased the burden of taxpayers from making mistakes on their annual tax returns, just one error in entering information on your forms could still end up costing you – in the form of a larger tax bill or a smaller refund. […]

Read full story
taxrefunda

Sars announces preliminary outcome of revenue collections 2016/17

For the second year in a row, SARS broke the Trillion Rand mark collecting, in gross terms, R1.367 trillion. The preliminary outcome for the 2016/17 financial year, net of refunds of R222.4 billion, is therefore R1.144 trillion.  This outcome is fractionally (only R300 000) above the revised estimate as announced in the 2017 Budget. (more…)

Read full story

Financial planning considerations when investing offshore

By Andrew Brotchie, MD of Glacier International. Investors wanting offshore exposure have various routes they can take – including rand-denominated funds and asset swap investments – but having decided to use discretionary savings to obtain direct foreign exposure, there are a number of considerations from a financial planning point of view that need to be […]

Read full story
Pravin Gordhan

Your tax bill is about to become more than a little taxing

Wealthy taxpayers were left gasping when Finance Minister Pravin Gordhan announced in parliament during his 2017/18 Budget Speech an increase in their marginal rate of tax by four full percentage points. (more…)

Read full story
Richard Carter_1-1

Bracket creep hits low to middle income earners

The 2017 Budget had some surprises, especially for the wealthy, with steep increases in income tax and dividend withholding tax. But the silent tax increase is the one to worry about. (more…)

Read full story
Sharon Machutchon Tax Consultant at Mazars1

How Treasury plans to take the money you earned overseas

The latest plans to tax overseas income could negatively affect the careers of many South Africans, according to Sharon Machutchon, Tax Consultant at Mazars. (more…)

Read full story