Taxation Blog

Deceased Employee - the responsibility of the Employer: The Fourth Schedule to the Income Tax Act places various obligations on an employer in respect of the withholding of employees’ tax and the administrative requirements related thereto. What obligation rests on...

With the upcoming Budget on 23rd February 2022 and the current economic climate (SARS will try to find every possible way to increase collections!), we are expecting a tough Budget and increased taxes. The following comprehensive year-end tax planning guidance and...

With the upcoming Budget on 23rd February 2022 and the current economic climate (SARS will try to find every possible way to increase collections!), we are expecting a tough Budget and increased taxes. The following comprehensive year-end tax planning guidance and...

With the upcoming Budget on 23rd February 2022 and the current economic climate (SARS will try to find every possible way to increase collections!), we are expecting a tough Budget and increased taxes. The following comprehensive year-end tax planning guidance and...

We are in the process of preparing the second provisional tax returns for the 2022 tax year, due for submission to SARS by 28 February 2022. We would, therefore, appreciate it if you could furnish us with either a copy of your latest payslip OR the total of your PAYE...

On 10 December 2021, Government Gazette 45624, Notice 1594 provided a public notice prescribing the particulars that a tax invoice must contain if the supply by a vendor relates to any enterprise contemplated in paragraphs (b)(vi) and (b)(vii) of the definition of...

Tax Chronicles Issue 40 November 2021 Post shared courtesy of:

Post shared courtesy of:  Cliffe Dekker Hofmeyr Click on the image below for the full article:  

The Bi-annual August 2021 PAYE reconciliation period is from 13 September 2021 - 31 October 2021. - All employers must prepare and submit their declaration (EMP501) and employees’ IRP5’s to SARS reconciling the PAYE/SDL/UIF paid during the period 1 March 2021 to 31...

Tax-Exempt-Institutions-S18A-Fact-sheet-2020-2021

Income Tax Guide on Income Tax and the Individual On 30 August 2021, SARS published the 2020/21 guide on income tax and the individual. The guide provides comprehensive guidance on income tax for individuals in terms of the Income Tax Act, 1962. (click to see) General...

Taxpayers with outstanding returns summoned to face criminal charges South Africans abroad note. By Tax Consulting South Africa 24 Aug 2021  11:29 Click here for the article: bit.ly/38lwsGR

If you have a Trust or are thinking about housing your assets in a Trust, you need to know who would bear the burden of the tax incurred on income received in the Trust. Please see the article linked below, and written by our Associate, Fatima Bapukee, on the taxing...

EXPLANATORY NOTES ON THE EMERGENCY TAX MEASURES IN RESPONSE TO THE CONTINUING COVID-19 PANDEMIC AND RECENT UNREST IN THE COUNTRY - click here As announced by President Ramaphosa on Sunday, new Tax relief measures have been introduced to aid Employers suffering the...

Post shared courtesy of: Patricia Williams | Partner Julia Choate | Senior Associate Bowmans South Africa   Click on the image below to read the article:

The Department of Labour has now extended the TERS benefits/claims for certain sectors still being affected by the level 4 lockdown – these are limited to the following:   Employers (as listed in Annexure A) who were unable to operate in full/partially due to the...

We are in the process of preparing the first provisional tax returns for the 2022 tax year, due for submission to SARS by 31 August 2021. We would, therefore, appreciate it if you could furnish us with either a copy of your latest payslip OR the total of your PAYE...

Over the last 2 years, SARS has increased their focus on the modernisation of their systems to deter the general non-compliance by many taxpayers. Your SARS compliance status also directly impacts Employment Tax Incentive (ETI) claims – in certain circumstances the...

SARS has recently amended the rules relating to non-compliance transgressions which may land you in hot water with possible fines or even jail time: Non-compliant transgressions How can we help you minimise the potential risk? The slightest mistake could now have dire...

  A - 11 offences which could give rise to criminal liability, only if the taxpayer committed them with intent (offences that require wilfulness, where SARS has the heavier burden of proof): Submitting a false certificate or statement in relation to returns,...

The Minister of Finance has issued an official notice to increase the monthly maximum remuneration for Unemployment Insurance Fund (UIF) contributions to R17 712 with effect from 1 June 2021 onwards.  This means that the monthly UIF contribution per respective...

MD's email sent out for this post | https://bit.ly/3v2pMHo   SARS is reminding Employers to submit the annual February 2021 payroll information to them on or before the deadline of 31 May 2021. Employers who comply fully, in turn, make it easier for their own...

The Commissioner of the South African Revenue Service (SARS) – Mr Edward Kieswetter, and the National Director for Public Prosecution (NDPP), Advocate Shamila Batohi, have agreed to further enhance collaboration and deal with key challenges of tax crime and...

With effect from 10/03/2021, ALL employers of Domestic employees are required to register with the Department of Compensation for Occupational Injury and Diseases (COIDA) and submit the necessary annual returns. This means that Domestic employees will now be entitled...

The Unemployment Insurance Fund (UIF) is embracing technology in a big way and has finally launched its highly anticipated E-Compliance Certificate online system. This will enable employers, small businesses and entrepreneurs to apply for a UIF compliance certificate...

https://www.sars.gov.za/Media/MediaReleases/Pages/28-January-2021-SARS-extends-Filing-Season-deadline-for-online-filers.aspx SARS EXTENDS FILING SEASON PROVISIONAL TAXPAYER DEADLINE FOR ONLINE FILERS “SARS extends Filing Season deadline for online filers” – for more...

MD's email sent out for this post | https://bit.ly/3sBo92A   We are in the process of preparing the second provisional tax returns for the 2021 tax year, due for submission to SARS by 26 February 2021. We would, therefore, appreciate it if you could furnish us...

COMPENSATION FOR OCCUPATIONAL INJURIES AND DISEASES ACT EXCLUSION OF DOMESTIC WORKERS INVALID Employers’ contributions cannot be backdated  by Jaco Swart The Constitutional Court, on 19 November 2020, confirmed an earlier judgment of the High Court which declared the...

MD's email sent out for this post | https://bit.ly/3d8jwp6   During April 2020 the president announced certain measures to assist employers during the Covid-19 lockdown. One of these included a deferral of the monthly Employees’ tax due to SARS for qualifying...

MD's email sent out for this post | https://bit.ly/2HZH97R   The Bi-annual August 2020 PAYE reconciliation period is from 15 September 2020 - 31 October 2020. - All employers must prepare and submit their declaration (EMP501) and employees’ IRP5’s to SARS...

MD's email sent out for this post | https://bit.ly/2CxLJrC As we navigate these challenging business conditions and enter a period of ever-greater SARS oversight, we have printed an updated, easy to use tax card which we are sure you will find useful. Please visit our...

MD Tax Card 2020/2021 - click on the image below. Prior years MD Tax Cards and MD Tax Guides here.  

MD's email sent out for this post | https://bit.ly/2BIAf4i In line with SARS’ new “auto-assessment” process, SARS will be issuing assessments automatically to some taxpayers without submission of a tax return. Auto assessments will be based on data received from...

MD's email sent out for this post | https://bit.ly/3hsOyt4 We are in the process of preparing the first provisional tax returns for the 2021 tax year, due for submission to SARS by 31 August 2020. We would, therefore, appreciate it if you could furnish us with either...

2020 Tax Season for Individuals With the Covid19 pandemic, SARS has delayed the official start of the individual tax season from 1 July 2020 to 1 September 2020 SARS is encouraging all taxpayers to use e-filing channels to file their tax returns and avoid those...

MD's email sent out for this post | https://bit.ly/2WRb5Ih SARS is reminding Employers to submit the annual February 2020 payroll information to them on or before the deadline of 29 May 2020. Employers who comply fully, in turn, make it easier for their own employees...

MD's email sent out for this post | https://bit.ly/3enaRiN The 2019 Return of Earnings (ROE) for Compensation for Occupational Injuries and Diseases Act (COIDA) submission deadline was extended to 31 May 2020 (initial deadline was 31 March 2020). The Workmen’s...

https://bit.ly/2JuYbIt Article Source: By Erich Bell, Director, Werksmans Attorneys  23 March 2020 "SARS's Notices to the Public The South African Revenue Service ("SARS") has taken several precautionary measures in response to the risk of infection from COVID-19...

MD's email sent out for this post | https://bit.ly/2JmcY8m The Minister of Finance has announced the following exceptional tax measures as part of the fiscal package outlined by President Cyril Ramaphosa on 23 March 2020 in his speech on the Escalation of Measures to...

MD's email sent out for this post | https://bit.ly/2WQFrv3 The UIF disaster benefit will now be run through TERS system - it is longer a ‘side option’ for UIF itself and the whole UIF Easy-guide has now been removed from the Labour.gov.za website. Covid-19 Temporary...

MD's full email sent out for this post | https://bit.ly/2UjCIZh Due to the unprecedented COVID-19 outbreak, employers are faced with difficult decisions regarding staffing and costs during the lockdown period and thereafter including what to do in the case where an...

SARS issued updated notices and schedules during the first week of March 2020 which may be of interest to you or affect your staff: Subsistence Allowance rates and advances for both local and foreign travel (with effect from 1/3/2020): Rate per day (local) - R139 for...

2020/2021 Tax Guide We are excited to launch our new electronic tax guide to assist you with the tax legislation. To access the PDF version please click here. Contact us to help you to be the best you can be! MD Annual Tax Guides

With spending challenges and a shrinking tax base, many commentators are expecting a tough budget on the 26th February 2020. With individual tax rates already high, there are very few areas left to generate further revenue. The areas that may be targeted include...