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DON’T FORGET THESE DEDUCTIONS WHEN SUBMITTING YOUR TAX RETURNS

03/09/2019

During tax season, citizens will flock to the South African Revenue Service’s (SARS) branches to submit their annual tax returns. However, when doing so, some people always focus on remuneration tax and forget about other deductions. Justmoney spoke to Adelaide Kekana, a tax consultant at Tax Consulting South Africa about allowable deductions to claim when...

EXPAT TAX 2020 ALL YOUR BURNING QUESTIONS ANSWERED BY OUR EXPERTS

29/08/2019

ALL YOUR BURNING QUESTIONS ANSWERED BY OUR EXPERTS As March 2020 approaches, when SA ‘Expat Tax’ is due to be implemented, we’ve been inundated with questions from South Africans working abroad. Here are some of the latest questions from SAPeople followers around the world, with answers kindly provided by the expert tax team at Financial...

SARS DECLARES WAR ON NON-COMPLIANCE

28/08/2019

SARS Commissioner, Edward Kieswetter, has used the South African Institute of Tax Professionals’ Tax Indaba as a platform to fire a shot across the bow, letting taxpayers know that non-compliance will be met with the full force of the National Prosecuting Authority (NPA). The Commissioner has allied himself with the NPA and concluded a new...

Professional points at a financial graph on a desk with a laptop, coffee, and a calendar. Text: 'WHEN TAX PLANNING BECOMES

WHEN TAX PLANNING BECOMES TAX AVOIDANCE – EXPERTS WEIGH IN

21/08/2019

The International Ethics Standards Board for Accountants is looking into whether aggressive tax planning is ethical, even if it is legal, according to Saadiya Adam, a technical advisor for the IESBA. She was one of the speakers at a recent accounting indaba hosted by the South African Institute of Professional Accountants (SAIPA) in Cape Town...

Magnifying glass over wooden blocks with person icons and text asking employers if their 'ducks are in a row'.

1 MARCH 2020 – DO YOU AS EMPLOYER HAVE YOUR DUCKS IN A ROW?

20/08/2019

DO YOU AS EMPLOYER HAVE ALL YOUR DUCKS IN A ROW? The amendment to section 10(1)(o)(ii) of the Income Tax Act (“foreign employment exemption”) takes effect from 1 March 2020. Presumably, employees that would be affected thereby have done the necessary planning to sidestep any potential additional tax that may follow the amendment; or at...

Man in suit with clasped hands on a wooden table under dramatic lighting. Text: 'BEWARE DODGY TAX AGENTS IF YOU'RE WORKING

MASSIVE JUMP IN THE NUMBER OF SOUTH AFRICANS APPLYING TO FINANCIALLY EMIGRATE

14/08/2019

With D-Day for overseas tax looming, expats are seeking ways to counter becoming sitting ducks for corner-cutting tax agents coming out of the woodwork for a kill. Sleazy tax agents have their sights on South Africans working abroad who are jittery about the looming expat tax law changes coming into effect in March, with “experts”...

A shark fin emerges from calm ocean water under a hazy sky, with text: "March 2020 SA Tax Law Change - Expats in Shark

SOUTH AFRICAN EXPATS IN SHARK INFESTED WATERS – EXPAT TAX LAW CHANGE COMMENCING MARCH 2020

06/08/2019

EXPAT TAX LAW CHANGE COMMENCING MARCH 2020 South African expats have been subjected to vast amounts of conflicting information regarding the amended expat law change, causing uncertainty and panic in their preparations for 1 March 2020. The cause for this is no doubt linked to the many “specialists” creeping out of the woodwork, so to...

Digital currency symbols like Euro, Pound, Yen over a glowing cityscape, illustrating exchange control regulations for money

THE EXCHANGE CONTROL REGULATION OF MONEY IN SOUTH AFRICA TO ABROAD

24/07/2019

With several alarming indicators showing that more South Africans are leaving the country, an increasing number of people have started to research their options on how to move money offshore. Tax Consulting SA has also noted a large increase in individuals who are expatriating funds and investing these funds offshore. There are various speculative reasons...

Aerial view of Le Morne Brabant, Mauritius, with clear turquoise waters. Text: 'South African Tax Law – Is Mauritius Your

SOUTH AFRICAN TAX LAW – IS MAURITIUS YOUR NEW HOME

08/07/2019

IS MAURITIUS YOUR NEW HOME? South Africans living and working abroad are faced with possible taxation on their foreign earned income. The reason for this, is the amendment of section 10(1)(o)(ii) of the Income Tax Act No. 58 of 1962 – this section is commonly known as the “expat exemption”. The Expat Exemption Amendment The...

EXPAT TAX: EXPERT ANSWERS FOR SOUTH AFRICANS LIVING AND WORKING ABROAD

21/06/2019

EXPERT ANSWERS FOR SOUTH AFRICANS LIVING AND WORKING ABROAD Thanks to popular demand, here are more ‘Expat Tax’ questions submitted by SAPeople members, with answers kindly provided by the expert tax team at Tax Consulting South Africa. Legal Privilege, Confidentiality and Liability When we operate in our practice, our advice comes with legal privilege (as...

FINANCIAL EMIGRATION IS THE NEW WAY OUT

14/06/2019

The taxman targets foreign earnings in excess of R1m – but at what cost to the country? Financial emigration is on the rise – by 30% over the last two years, according to Claudia Apicella, head of Financial Emigration, a specialist advisory group targeting financial emigres. The main reason? The imminent change in the law...

TAX FILING SEASON – HERE ARE SOME CHANGES FROM SARS

10/06/2019

HERE ARE SOME CHANGES FROM SARS The South African Revenue Service (SARS) is acutely aware of the decline in tax moral and tax compliance, say Thamasanqa Msiza, senior tax consultant & Darren Britz, senior tax attorney at Tax Consulting SA. Many of the changes to the annual tax Filing Season this year is to lower...

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LATEST NEWS

DON’T FORGET THESE DEDUCTIONS WHEN SUBMITTING YOUR TAX RETURNS

EXPAT TAX 2020 ALL YOUR BURNING QUESTIONS ANSWERED BY OUR EXPERTS

SARS DECLARES WAR ON NON-COMPLIANCE

WHEN TAX PLANNING BECOMES TAX AVOIDANCE – EXPERTS WEIGH IN

1 MARCH 2020 – DO YOU AS EMPLOYER HAVE YOUR DUCKS IN A ROW?

MASSIVE JUMP IN THE NUMBER OF SOUTH AFRICANS APPLYING TO FINANCIALLY EMIGRATE

SOUTH AFRICAN EXPATS IN SHARK INFESTED WATERS – EXPAT TAX LAW CHANGE COMMENCING MARCH 2020

THE EXCHANGE CONTROL REGULATION OF MONEY IN SOUTH AFRICA TO ABROAD

SOUTH AFRICAN TAX LAW – IS MAURITIUS YOUR NEW HOME

EXPAT TAX: EXPERT ANSWERS FOR SOUTH AFRICANS LIVING AND WORKING ABROAD

FINANCIAL EMIGRATION IS THE NEW WAY OUT

TAX FILING SEASON – HERE ARE SOME CHANGES FROM SARS

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