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TAX FILING TIPS FOR 2017
The important dates to remember are: 25 November 2016 – At a SARS branch (provisional and non-provisional) 25 November 2016 – eFiling (non-provisional) 31 January 2017 – Provisional taxpayers via eFiling You do not need to file an income tax return if: Your total salary earned during 1 March 2015 – 29 February 2016 for [...]
Newsletter October 2016
TAX FILING TIPS FOR 2016 The important dates to remember are: 25 November 2016 - At a SARS branch (provisional and non-provisional) 25 November 2016 - eFiling (non-provisional) 31 January 2017 - Provisional taxpayers via eFiling You do not need to file an income tax return if: Your total salary earned during [...]
Newsletter September 2016
Revised Special Voluntary Disclosure Programme In terms of the new global standard for the automatic exchange of information between tax authorities, the South African Revenue Service (SARS) will start receiving offshore third party financial data from other tax authorities from 2017. The Special Voluntary Disclosure Programme (SVDP) gives non-compliant taxpayers the opportunity to voluntarily disclose [...]
Newsletter August 2016
TAX SEASON 2016 HAS BEGUN Tax Season runs from 1st July to 25th November every year. With the 2016 Tax Season now underway, it is important to collect all the required supporting documentation as soon as possible so that your tax return can be submitted on time. Please make a note of the following [...]
Newsletter July 2016
BREXIT… THE AFTERSHOCK The news that Britain had decided to exit the European Union (EU) sent shockwaves through world markets. Until then, many South Africans were not even really aware of ‘Brexit’. What happened? In a referendum on 23rd June, Britons voted to leave the EU by an overall 52 per cent majority. The UK [...]
Newsletter June 2016
SARS COLLECTIONS EXCEED R1 TRILLION The need for greater protection of personal data is increasing globally. The European Commission has just implemented the General Data Protection Regulation (GDPR) which is aimed at strengthening and unifying data protection for individuals within the European Union (EU) as well as regulating the export of personal data outside the [...]
Newsletter May 2016
SARS COLLECTIONS EXCEED R1 TRILLION For the first time in the history of South Africa, tax collections have exceeded one trillion rand. In spite of difficult economic conditions, The South African Revenue Services (SARS) recently announced that it had met its tax collection target, collecting a record R1.0699 trillion in taxes in 2015. This was [...]
Newsletter April 2016
INCENTIVE FOR EMPLOYERS TO PROVIDE BURSARIES – NO EFFECTIVE DATE OF IMPLEMENTATION “To support skills development, government proposes to increase the fringe benefit tax exemption thresholds for bursaries provided to employees or their relatives. The income eligibility threshold for employees to access the relief will be increased from R250 000 to R400 000. The value [...]
Newsletter March 2016
2016 BUDGET SPEECH - HIGHLIGHTS Finance Minister Pravin Gordhan began the 2016 budget speech by stating that low growth, high unemployment, and extreme inequality in our society is unacceptable to all of us, but that we are strong enough, resilient enough and creative enough to manage and overcome our economic challenges. Government’s aim is to [...]