TAX

July 28, 2023

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 […]
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

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 […]
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 […]
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 […]
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