South Africa continues to face an unforgiving economic climate. Households are grappling with rising costs of food, fuel, electricity, and school fees, while salary increases remain modest or frozen altogether. As many employees search for ways to stretch their income, one practical, cost-neutral solution stands out: flexible benefits.
Having had great success with its specialised tax compliance programmes over the last few years, SARS has now called in the cavalry this tax return filing season, through “Project AmaBillions”, to bolster its tax debt collection capabilities.
In a significant win for taxpayers on the South African Revenue Service’s (SARS) “narrow” approach to the ability to claim input Value-Added Tax (VAT), the Supreme Court of Appeal (SCA) recently ruled in favour of Woolworths Holdings (Woolworths), the group holding company, affirming its right to claim over R8 million in input VAT.
For South African residents and expatriates living abroad, reaching the R1 million annual limit of offshore spending allowed under exchange control regulations, can happen far more quickly than expected. This can soon land them in hot water with the South African Reserve Bank (SARB) who closely monitors funds flowing out of South Africa.
South African expatriates living and working abroad are firmly in the Tax Man’s sights. Recent enhancements clearly indicate the South African Revenue Service (SARS) is increasing its focus on the importance of expatriates legally confirming the basis on which they cease their tax residency status in South Africa to benefit from a reduced income tax liability as non-resident taxpayers.
As the 2025 tax filing season approaches, many South Africans working from home are asking what home office expenses they can claim as tax deductible items, and how to do it correctly. This question is especially relevant for the growing number of South African employees working remotely for global companies who are increasingly turning to tax practitioners for guidance.
The South African Revenue Service (SARS) has announced enhancements to its record-keeping of taxpayers’ tax residency status this coming tax filing season, taking direct aim at returning South African expatriates.
With the 2025 tax filing season fast approaching, the South African Revenue Service (SARS) has introduced a new user-friendly eFiling feature aimed at making tax compliance simpler and more accessible for the ordinary taxpayer.
Since the introduction of the Crypto Revenue Augmentation Unit by the South African Revenue Service (“SARS”), numerous taxpayer’s who have traded, invested or even used crypto assets for purchases, have received Audit and Request for Relevant Material Notices, specifically relating to such crypto asset transactions.
It is not to say that all South Africans who have started a new life overseas – whether for an extended period or permanently – have or want to sever all ties with their country of birth. Many still have bank accounts and pension money in South Africa or may want to buy property here for a variety of reasons.