2024 Budget Speech Highlights

2024-02-22T16:06:19+00:00February 22, 2024|Accounting, Advice, Budget, News, SARS, Taxes|

Finance Minister Enoch Godongwana announced his budget speech on Wednesday 21st February 2024, that he hoped would alleviate immediate fiscal pressures.  It was disappointing news for South Africa’s already struggling households to hear that the additional R15 billion needed to balance the budget, will come out of the pockets of individual taxpayers. To achieve [...]

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Shining the Light on SARS Solar Panel Tax Incentive

2023-11-22T16:18:39+00:00November 22, 2023|Accounting, Advice, News, SARS, Taxes, Tips|

With load shedding still firmly on the horizon, it was welcomed news in the recent Medium-Term Budget Policy Statement, that the government is advocating for the solar panel tax incentive to be extended to batteries and inverters.  Electricity Minister, Kgosientsho Ramokgopa, wants more businesses and households to opt for rooftop solar panels, but feels [...]

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SARS Changes to Foreign Investment & Emigration Explained

2023-05-23T04:22:01+00:00May 22, 2023|Accounting, Advice, General, News, Taxes|

Last month, the South African Revenue Service implemented a welcomed change to the foreign investment and emigration tax clearance process for individuals transferring money abroad. These changes are essentially system enhancements to align the different tax clearance processes and make compliance easier. With official emigration having been phased out in 2021, SARS new tax [...]

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2023 Budget Speech Highlights

2023-04-05T09:20:42+00:00April 5, 2023|News|

Finance Minister Enoch Godongwana’s 2023 budget speech welcomed some tax relief and incentives, which he believes strikes a critical balance between saving lives and livelihoods, whilst supporting the economic growth of the country. With the energy crisis being the focus this year, the news was welcomed of a tax incentive for the installation of [...]

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5 Steps To A Smooth Changeover Between Accountants

2023-05-22T13:43:11+00:00May 13, 2022|News|

The perception of most Business owners is that changing Accountants is as difficult and disruptive as changing banks.  However, we have taken on a number of new corporate clients who are always surprised at how easy and smooth our changeover has been.  So, if you feel your current accountant is not giving you the [...]

How home office deductions impact Capital Gains tax

2021-08-23T11:07:34+00:00August 23, 2021|News|

Remote working and flexible employment have really taken off in the last year and a half. Perhaps we can categorise this as one of the very few 'pros' we've seen coming out of the Coronavirus pandemic. This kind of employment involves workers working part or all of their time from an at-home office. Of [...]

The Tax Implications of Leaving SA

2021-07-05T10:50:57+00:00July 5, 2021|News|

In January of this year, the government signed the Taxation Laws Amendment Act, doing away with the distinction between residents and non-residents for exchange control purposes. What exactly does this mean? It means that the SA Reserve Bank is doing away with financial emigration, which involves accessing your retirement annuities before they are matured [...]

The Taxation Of Cryptocurrencies

2023-01-12T09:45:24+00:00May 10, 2021|News|

You can't deny that there is a lot of hype and interest about Cryptocurrencies at the moment. One of the loudest questions being asked right now is, are Cryptocurrencies taxed? Many South Africans have made millions with Cryptocurrencies recently and everyone is asking, is there a SARS Cryptocurrency tax? The answer is, yes, there [...]

2021 Budget Speech Highlights

2023-01-12T09:45:37+00:00March 2, 2021|News|

On 24 February, Finance Minister, Mr. Tito Mboweni, delivered the National Budget Speech outlining the government's priorities for 2021. Due to the COVID-19 pandemic, the government was forced to re-evaluate the economic outlook of the economy, and things have taken a challenging turn. Budget speech highlights include the expectation that the total consolidated spending [...]

Ins & Outs Of Vat For The South African Business Owner

2023-01-12T09:45:49+00:00February 8, 2021|News|

The importance of businesses, both large and small, for our economy, goes without saying, especially their role as taxpayers. All businesses have tax obligations to meet, including paying Value Added Tax (VAT) to SARS, but don't fear, it's not all bad news, as there are several benefits to acquiring a VAT number. This post [...]

How Are You Affected By Capital Gains Tax?

2023-01-12T09:46:00+00:00November 26, 2020|News|

No one likes a surprise from the Taxman, because we know it is hardly ever good. The year we've made a profit should be one for celebrating, not for sharing with SARS. Understanding Capital Gains Tax (CGT) and how it works is key to saving pennies when you are looking to sell an asset [...]

Budget 2019 – the changes affecting you

2019-02-20T18:20:29+00:00February 20, 2019|News|

Finance Minister Tito Mboweni delivered his maiden budget this afternoon which offers little in the way of relief from the tax hikes of previous years. It also involves a surprise carbon levy pushing fuel prices even higher.   Read on to learn about the changes affecting you: Income Tax Changes: For the first time [...]