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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Dividend Tax hiked to 20%

2017-04-30T06:54:15+00:00April 30, 2017|News|

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 [...]

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Income Tax Brackets

2017-03-03T07:23:17+00:00March 3, 2017|General|

After this year's budget, most tax brackets saw their ceilings raised slightly while the most significant change was the introduction of a new tax bracket for the wealthy.     Income Tax Calculators The tax brackets below are key to calculating your taxable income and are what online tax calculators use to provide you [...]

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Donations Tax

2016-10-29T07:45:54+00:00October 29, 2016|Advice|

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 [...]

PAYE – Employees Tax

2016-09-28T06:54:51+00:00September 28, 2016|Advice|

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 [...]

Tax season – income tax returns

2016-06-29T18:22:06+00:00June 29, 2016|Advice|

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 [...]

What is Income tax?

2010-10-08T11:23:45+00:00October 8, 2010|Uncategorized|

When it comes to the world of taxes, you may be surprised to know that you are not the only member of the public that may be confused about taxes. You may be wondering why Henry pays PAYE, Jane pays SITE and you are paying provisional tax.  Have no fear, its all a lot [...]