Thousands of South Africans leave the country each year to earn a better wage, enticed by the favorable remuneration packages being offered. Low tax rates or tax-free jurisdictions such as Dubai in the Middle East are strong magnets for South Africans where despite harsh conditions, long working hours and separation from their families, they [...]
With South Africa experiencing low economic growth, high unemployment, slow progress in education and uneven income growth, it was only expected that our finance minister Pravin Gordhan would need to make tough decisions in his 2017 budget. While many of these tougher measures span the full scope of the budget, we will be purely [...]
Dirmeik Consulting has recently expanded into KwaZulu-Natal and we wanted to offer advice for businesses looking for an accounting firm or tax consultant in the greater Durban area. Accounting companies in Durban When looking for an accounting firm, it is human nature to first see if someone in your business circle can refer [...]
Jozi, the city of gold and the richest province in South Africa. While Johannesburg’s gold rush has long passed, many still flock to Joburg for lucrative employment and business opportunities. For the businesses and individuals reaping the rewards of Joburg’s economy, it becomes increasingly important to find a quality accountant and tax consultant. In [...]
To continue our series of blog articles focusing on types of tax, we turn our attention to Donations tax. Most of us know the saying “It is better to give than to receive”. While that is true, it probably wasn’t taking into account the tax implications of giving which many are unaware of. If [...]
We continue our look at the various types of tax and turn our attention to Employee’s Tax or PAYE in particular. Whether you are an employee at a company and are paying PAYE, or are starting a new company and want to find out more about PAYE for your staff, this article will clarify [...]
Since April 1st 2012, Dividends Tax applied to dividends received from your investments. There is however a difference between dividends paid and interest earned from investments. In this article, we will touch on the difference between Dividends Tax and tax on interest earned. What is Dividends Tax? If you own shares and receive dividends [...]
Must I submit an income tax return? Tax season is upon us and it is your responsibility to determine if you need to submit an income tax return to SARS in the form of an ITR12. In this article we will cover a range of points that will confirm your eligibility to submit an [...]
It is always surprising when a business fails to keep accurate financial statements. I see a failure to prepare financial statements in a considerable number of businesses, especially smaller ones. As financial statements provide such valuable insight into your business, I thought it would be a useful exercise to recap on some of the [...]
We receive more and more requests each day from Expats requiring assistance with their tax, both from South African’s living abroad and foreign nationals. While we have covered Expatriate tax in two previous blog articles - Expat Tax Services and Expatriate tax in South Africa - I thought it may be valuable to list [...]
As a business owner, you work hard all year to ensure the success of your business. You recognise that every cent counts and saving money anywhere directly affects your bottom line. Whether you are lucky enough to be taking time off over the holiday season or if the holidays signal the start of your [...]
If you are eligible for an inheritance or are making provisions to pass on your wealth after your death, this article may help in answering some of the questions you may have about inheritance and tax. Section 1 will briefly look at some considerations from a tax perspective when planning to provide an inheritance [...]
