You’ve worked hard all your life and when you pass away, your expectation is that your assets transfer to your loved ones. However, if you fail to account for your tax liabilities it can detrimentally affect the liquidity in your estate and as a result – the financial legacy you leave your loved ones. In […]
Category Archives: Uncategorized
08
Aug
Aug
Taxpayers now can take a little time to lodge an objection with SARS – three and a half months from the date of assessment or decision. This was recently approved and comes into immediate effect under section 103 of the Tax Administration Act, 2011. This now gives you up to 80 days to lodge your […]
21
Jun
Jun
AI is making headline news right now, and it’s being put to good use by the South African Revenue Service to pinpoint tax dodgers and anomalies in tax submissions. The best thing you can do to stay ahead of SARS’s IT tech systems is to ensure your tax submission adheres to the latest tax laws […]
07
Jun
Jun
Life happens, people move on, we grow older, grandchildren are born. Every life event you experience should necessitate a review of your will, as an outdated estate plan could have unexpected and unpleasant consequences for your family. Here are 7 life events, you can’t ignore: Marriage or divorce Marriage and divorce have a major impact […]
21
Apr
Apr
Financial statements are not only a legal obligation but are essential if you are to assess whether your business is solvent and making a profit. If your business is incorporated as a company or closed corporation, you have a legal obligation, according to the Income Tax Act and Tax Administration Act to prepare accurate annual […]
25
Apr
Apr
You might think you are all in the clear, having recently submitted your tax returns to SARS. But then suddenly you are hit with the shock of a notification saying that penalties have been charged against you. To avoid this unpleasant situation, you need to be aware of when penalties are charged and how to […]
22
Mar
Mar
Cryptocurrency is always making headlines and in the 2022 Budget Review published recently, the treasury announced a crackdown on cryptocurrency miners, which the treasury labelled as “environmentally harmful” and stablecoins. In addition, South Africa’s regulatory authorities are developing several interventions, that are expected to be finalised this year. Regulations that are on the table Based […]
26
Apr
Apr
With the rise in popularity of cryptocurrencies, many people are asking the question whether the taxman can claim a piece of what’s in their crypto wallet? The good news is that if your approach is to ‘buy and hold’, you can put off paying tax until you are ready to cash in. However, there are […]
25
Mar
Mar
When you buy into a sectional title scheme, one of the first things you need to understand is that levy payments are essential if you are to maintain the value of your property investment – and that guarding against non-payment is critical. The backbone of your sectional title scheme Levies are essential for maintaining the […]
22
Feb
Feb
Many people and businesses may be unaware that on 15 January 2021, the President approved the Rates and Monetary Amounts and Amendment of Revenue Laws Act No.22 of 2020, the Taxation Laws Amendment Act No. 23 of 2020 and the Tax Administration Laws Amendment Act No.24 of 2020. These Acts were all promulgated on 20 […]