2019 Budget Speech - Fuel Levy Hike

Budget Speech 2019 : Fuel Levy hike

Freedom of Movement When government struggle to meet its revenue estimates and projections fall short in three of its four main tax revenue instruments, proposals to increase the tax base are raised; and in this year’s budget speech, the Minister has looked to a fuel levy increase yet again.

National Treasury Opens Door For More Discussion on Expat Tax

National Treasury opens door for more discussions on expat tax

National Treasury has invited key stakeholders to a workshop early next month to address continued concerns around the amended foreign income tax exemption.

Provisional Tax 101: What You Need To Know

Provisional Tax 101: What You Need To Know

With the 2018 tax filing season having come and gone, several taxpayers got in contact with us after receiving a nasty surprise on their income tax assessment.

E-Sports - Be Ahead of SARS' Game

E-Sports: Be ahead of SARS’ game

Often considered a waste of time and certainly an area of contention in most households, is the concept of gaming. Spending hours in front of a computer or console, whiling away time that could be used more productively, according to many parents. Viewed as an anti-social hobby that is of no value. 

Tax Residency and Financial Emigration: Everyone is an Expert

Financial Emigration Ceases Tax and Exchange Control Residency The process of “Financial Emigration” terminates your tax residency status with the South African Revenue Service (“SARS”) as well as your status as exchange control resident with the South African Reserve Bank (“SARB”). The SARS process includes a verification or “audit” procedure, as financial emigration is not […]

Employee Tax Incentive Extension - Opportunities and Concerns

Employee tax incentive extension – opportunities and concerns

The Taxation Laws Amendment Act No. 23 of 2018, promulgated on 17 January 2019, extended the Employee Tax Incentive scheme (“ETI scheme”), which would have lapsed on 28 February 2019, for a further 10 years.

Tax Revolt Both Irresponsible and Highly Unlikely, Says Economists

Tax revolt both irresponsible and highly unlikely, say economists

Western Cape Premier Helen Zille’s call for a tax revolt is “quite anarchist” as it promotes civil disorder and disobedience, an economist has said.

Agrizzi's Revelations - Taking A Bet On Whether SARS or the NPSA Takes Prosecution Lead

Agrizzi’s revelations – taking a bet on whether sars or the NPA takes prosecution lead

The arrival of Angelo Agrizzi at the State Capture Commission has been nothing short of spectacular.

Cryptocurrencies Are Exploited Without Regulation

Cryptocurrencies are exploited without regulation

The South African Reserve Bank (SARB) released a consultation paper in January, wherein it discussed “cryptocurrency regulation”. This refers to the regulation of digital assets or virtual currencies, such as Bitcoin, which are used to trade online through secure transactions, called Blockchain. Today, there are over 1,600 cryptocurrencies worldwide. This includes obscure currencies, such as Vertcoin and […]

Offshore Tax Exemption To Be Reviewed

Offshore Tax Exemption to be Reviewed

The controversial tax on income South Africans earn abroad and the R1 million exemption on it will be revisited during a special workshop between National Treasury and industry players in coming weeks.