Tax 2/3

How Tax Returns Will Be Easier This Year, and Should You File if You Earn Under R500,000?

Bloomsa

Jun 27, 20193 min read

How Tax Returns Will Be Easier This Year, and Should You File if You Earn Under R500,000?

“Death and taxes may be inevitable but they shouldn’t be related” (J.C. Watts Jr)” Tax season 2019 begins on 1 August (1 July for...

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How Many Days Did You Work For The Taxman In 2019?

Bloomsa

Jun 27, 20192 min read

How Many Days Did You Work For The Taxman In 2019?

“Tax Freedom Day is calculated by dividing general government revenue by GDP at market prices, then multiplying the result by the number...

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Youth Employment Tax Incentive Extended for Ten Years

Bloomsa

Jun 27, 20191 min read

Youth Employment Tax Incentive Extended for Ten Years

There is chronic unemployment in the country and it is especially felt by the youth where up to 50% cannot find a job. The Employment Tax...

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Bloomsa

Jun 27, 20191 min read

Your Tax Deadlines for July 2019

There are only run-of-the-mill deadlines for July – 5 July – PAYE submissions and payments 25 July – VAT manual submissions and payments...

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Your Tax Deadlines for July 2019 and Good News for Taxpayers

Bloomsa

May 30, 20192 min read

Your Tax Deadlines for July 2019 and Good News for Taxpayers

Firstly, there are no major deadlines in June but tax season opens in July, so make sure you have all your documentation ready for your...

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Small Businesses: Make The Most of Your Tax Breaks!

Bloomsa

Apr 30, 20193 min read

Small Businesses: Make The Most of Your Tax Breaks!

“There are two systems of taxation in our country: one for the informed and one for the uninformed.” (U.S. Judge Learned Hand) Whether...

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Tax and Solar Energy Plants: Your Business Can Deduct the Costs Upfront

Bloomsa

Apr 30, 20191 min read

Tax and Solar Energy Plants: Your Business Can Deduct the Costs Upfront

“If only there was some kind of an infinite power source that was free to use all day every day…” (Anon) In a recent binding ruling, SARS...

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SARS – Important Update on VAT for E-Services from Foreign Suppliers

Bloomsa

Apr 30, 20192 min read

SARS – Important Update on VAT for E-Services from Foreign Suppliers

This has been causing waves since SARS stated its intentions of making electronic services subject to VAT last year. Now the final...

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Your Tax and Other Deadlines for May 2019

Bloomsa

Apr 30, 20191 min read

Your Tax and Other Deadlines for May 2019

Your Employer Annual Reconciliation Declaration (EMP501) for the period 1 March 2018 to 28 February 2019 is due on or before 31 May. This...

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Expat Tax: How Will The Changes Affect You?

Bloomsa

Mar 27, 20193 min read

Expat Tax: How Will The Changes Affect You?

“A fine is a tax for doing wrong. A tax is a fine for doing well.” (Ecard humour) (Note: If you aren’t yourself an expatriate, please...

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Sugar Tax: Good for the Taxman, Bad for the Sugar Industry

Bloomsa

Mar 27, 20192 min read

Sugar Tax: Good for the Taxman, Bad for the Sugar Industry

“If governments tax products like sugary drinks, they can reduce suffering and save lives. They can also cut healthcare costs and...

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Bloomsa

Mar 27, 20191 min read

What Our New Tax Statistics Tell Us

There are only run-of-the-mill tax deadlines in April, but some interesting information emerged from the recently-released 2018 edition...

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VAT Taxpayers: New Relief on Correcting Tax Invoices

Bloomsa

Feb 27, 20192 min read

VAT Taxpayers: New Relief on Correcting Tax Invoices

There has been an anomaly in VAT law which new legislation has now largely resolved. The problem with the old position It has always been...

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SARS Warns Taxpayers: “Use Only Registered Tax Practitioners”

Bloomsa

Feb 27, 20191 min read

SARS Warns Taxpayers: “Use Only Registered Tax Practitioners”

There are no major tax deadlines for March but SARS is again warning taxpayers to – Only use registered Tax Practitioners, Ask for the...

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Bloomsa

Jan 31, 20191 min read

Your Tax Deadlines For February 2019

The second provisional tax payment for the 2018/2019 tax year is due by 28 February. If your taxable income is below R1 million your...

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Deemed Accruals Can Seriously Disrupt Your Cash Flow – A Tax Lesson for Property Developers

Bloomsa

Jan 8, 20192 min read

Deemed Accruals Can Seriously Disrupt Your Cash Flow – A Tax Lesson for Property Developers

A recent Supreme Court of Appeal (SCA) judgment has confirmed a view that our courts have held for a long time – namely that when a...

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Be Aware Of the Changes to VAT on Electronic Services

Bloomsa

Jan 8, 20192 min read

Be Aware Of the Changes to VAT on Electronic Services

The Minister of Finance warned in his 2017 Budget speech that VAT on electronic services would be widened. Treasury has now published...

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Bloomsa

Jan 8, 20191 min read

Your Tax Deadlines for January 2019

Provisional taxpayers who use eFiling need to submit their 2017/8 Income Tax Return on or before 31 January 2019. You will have noticed...

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Taxpayers Note: How To Upload Supporting Documents Using eFiling

Bloomsa

Nov 28, 20181 min read

Taxpayers Note: How To Upload Supporting Documents Using eFiling

SARS have instructed that taxpayers on eFiling need to submit supporting documentation as follows: Files should be no more than 5mb each....

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Is SARS Attacking Your Medical Tax Credit?

Bloomsa

Nov 28, 20182 min read

Is SARS Attacking Your Medical Tax Credit?

Taxpayers and tax practitioners have in recent months been surprised to find their medical claim tax credits queried by SARS. Up to this...

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