Travel Allowances
We look at how travel allowances work, which method of calculation is best, and also provide a heads-up of how to manage the unforeseen consequences of the COVID-19 pandemic.
Author Archive for: admin
Entries by admin
4 Things To Consider When Filing Tax Returns During Third Wave Lockdown
South Africa drifted into economic standstill for the umpteenth time after President Ramaphosa announced that the country will embrace Level 4 lockdown restrictions once more. While the hospitality and tourism sectors are rightfully up in arms, the rest of the country look on as tax season approaches.
SARS Due To Make Changes To The Electronic Record Keeping Requirements
Too often, taxpayers seem to forget that the most important aspect of dealing with SARS is to ensure that they can discharge their burden of proof.
Avoid Tax Wolves In Sheep’s Clothing: 6 Things To Look Out For
Post-Covid economic resurgence saw an increase in international work opportunities. With skills in hand, many South African professionals have become sought-after in other countries. As a result, their finances and subsequent taxation have come under scrutiny. However, along with the awareness of tax complications, another threat has emerged.
Are You Thinking About Starting An Importing Or Exporting Business? Here’s What You Need
In the wake of a global lockdown and travel restrictions, there came a resurgence in economic activity. Governments the world over poured relief funds into all types of commerce, hoping to jumpstart businesses across all platforms and trade areas.
Planning for Exit
With the world’s recent and continuing lockdowns, in view of the ever-present Covid-19 pandemic, more and more South Africans are considering moving abroad (or having their children move abroad).
South Africans Abroad: Watch Out For SARS’ Audits
This year’s filing season which opens on 1 July 2021, will be the first in which expatriates will feel the impact of the amendment to Section 10(1)(o)(ii) of the Income Tax Act, or the ‘Expatriate Exemption”.
Recent Changes To Financial Emigration Leaves Banks In The Dark
“From blocked accounts, to financial freedom, and back to blocked accounts.”
Claiming Home Office Deductions – Proceed With Caution
SARS recently published a webpage, “Home Office Expenses”, providing guidance to employees who worked from home and who want to claim home office expenses as a deduction against their income.
Relying on the ‘Tick-Box Approach’ to Cease Tax Residency Should Raise Alarm Bells for South African Expatriates
Some tax advisors are reported to have directed their expatriate clients to cease tax residency in South Africa by simply ticking the non-resident box in the client’s return and thereafter deregistering the client as a taxpayer from SARS. Following such shady advice could result in a criminal act and will have the client suffering at […]