Tax considerations on retirement

2017-07-29T07:27:22+00:00July 29, 2017|Advice, General|

In our previous blog article titled ‘Retirement funds and tax’, we looked at tax implications while saving for retirement and the recent changes in legislation that allow you to save up to 27.5% of your taxable income when making retirement contributions. Retirement structure is based on three legs, namely exempt, exempt, and taxed. While [...]

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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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 [...]

Turnover Tax – What is it?

2016-07-27T07:20:17+00:00July 27, 2016|General|

Over the next few blog articles, we will be shedding light on various types of tax including some of the lesser known forms that apply within South Africa. Today, we will be focusing on Turnover Tax and will explain who it is for, how it works, and the advantages of using Turnover Tax. What [...]

Tax Deadlines 2015

2015-07-01T07:10:44+00:00July 1, 2015|Uncategorized|

Every year we summarise some of the important tax deadlines that affect you as an individual or employer. Tax season deadlines for individuals In each tax season, you are required to submit your income tax return (ITR12). This document assists SARS in calculating the tax payable on your income as well as the tax [...]

Disability tax benefits

2015-04-30T07:16:01+00:00April 30, 2015|Advice|

If you are one of many South Africans who are living with a disability or who have a spouse or child with a disability, you may be eligible to claim all of your out of pocket expenses relating to the disability. What is considered a disability? In order to receive tax deductions from expenses [...]