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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
BUDGET 2016/2017 With our currency still recovering from President Jacob Zuma’s hair-raising decision in December 2015 to replace Nhlanhla Nene with David van Rooyen, Pravin Gordan has come to the rescue as South Africa’s new Finance Minister. Gordhan succeeded Trevor Manuel as Minister of Finance in May 2009 and held this position until May 2014 [...]
