Tax

May 11, 2023

The new SARS solar energy tax credit

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 […]
May 11, 2023

Tax breaks for retirement funding

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 […]
April 21, 2023

Tax certificate uploads: How to avoid SARS issues

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

IRP5 not uploaded? Expect significant delays

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 20, 2022

Retirement and your ‘second wind’

With improved healthcare and the trend towards healthier lifestyles, many people are living to a ripe old age.  Make sure that your money lasts as long […]
October 20, 2022

Two retirement pots: Limited access, compulsory preservation

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 14, 2022

Submit your return on time, or face penalties

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

Your retirement ‘gift’ to SARS

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

Retirement saved from controversial tax proposal

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

Anomalies in fringe benefits regarding retirement funds addressed

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 […]
September 14, 2021

Why investing in youth is good for your business

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 […]
April 20, 2021

Budget 2021: Individuals and savings

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 […]
April 20, 2021

Fringe benefits provided to employees

The Seventh Schedule to the Income Tax Act[1] lists various benefits that employers may grant to employees which will attract income tax for the employee,[2] and […]
We use cookies to improve your experience on our website. By continuing to browse, you agree to our use of cookies
X