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 [...]
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 [...]
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 [...]
Shareholders brace yourself, the dividend tax rate just jumped up from 15% to 20% as of February 22nd, 2017. The reason given by government was to reduce the difference between the combined statutory tax rate on dividends and the top marginal personal income tax rate. Does Dividend Tax apply to me? Dividend Tax is [...]
Dirmeik Consulting has recently extended its services across South Africa. Our unique approach to the practice of accounting sets us apart from our competition. This approach is based on trust and wisdom; on quality service and operational clarity and on the drive to support our growing base of clients across South Africa. We currently [...]
South African finance minister Pravin Gordhan delivered the 2016 Budget on Wednesday afternoon. It was never pegged as being an easy task given the tough economic times the country is experiencing and that any wrong move could result in South Africa receiving a “junk status” rating. He did however manage to avoid an austerity [...]
In the past, complying to tax laws has often been at the will of the tax advisor or the taxpayer. It has been a moral decision as to whether income is honestly declared or not. The problem with this is that so much is rooted in the attitude towards compliance. Often high tax rates [...]
Every year we post the income tax rates for the current tax season. This year there is possibly more reason to take note of the changes as during the recent Budget Speech it was announced that for the first time in 20 years, income tax rates would be increased. The first increase since 1995 [...]
Our new finance minister, Nhlanhla Nene delivered his first budget speech earlier today with increases aplenty. In this article, we will touch on some of the highlights from the 2015 Budget speech that may affect you, looking at the good and the bad. Starting with the bad... Income Tax Increases Bad news if you [...]
It’s budget time again and in an effort to keep things simple, we have put together an article with some of the highlights from yesterday’s budget speech. If you are looking for all the details from Pravin Gordhan’s 2012 / 2013 budget speech, download the handy Pocket Tax Guide here. Personal income tax: If [...]
