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Latest News

VAT Rate Increase


Please note that the VAT Rate has increased from 14 % to 15 % from 1 April 2018. Should you need any assistance to amend your bookkeeping software please call us to assist. View our latest 2019 Tax Calculator Here Calculator 2019

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Tax hikes not the option for SA economy

Tax Rate South Africa

Cape Town – Privatising SEOs, dropping NHI, exiting the BRICS development bank, selling Telkom shares and rejecting nuclear build are just some of the policy directions the DA believes government should take for Budget 2018. At a press briefing at Parliament ahead of the National Budget to be delivered on Wednesday, DA leader Mmusi Maimane…

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What nasty changes can taxpayers expect in the budget?

Tax Budget 2018

South Africans need clarity and certainty in terms of the energy sector when the finance minister delivers his 2018 budget speech next week Wednesday. Andrew Wellsted, head of Norton Rose Fulbright’s tax team, says the country needs a reliable energy supply, and the future source and cost have become critical. Questions plaguing many taxpayers are…

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‘Abolishment of medical tax credit could face legal challenge’

Medical tax

As government mulls its options to reduce expenditure while funding priority programmes, experts have warned that the abolishment of the medical tax credit could be highly problematic and may even face legal challenge in the absence of alternative solutions. Medical scheme members currently receive a medical tax credit of R303 per month for the first…

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Bitcoin – The Tax Question?

Bitcoin investment

Although usually behind the global curve, South Africa seems to be keeping pace with the current Bitcoin trend. This is positive, as we are living in an increasingly digital world with it only being a matter of time before currency too, became digital. The big question on everyone’s lips however, is twofold: How will cryptocurrency be…

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SARS to probe tax compliance in religious sector


Cape Town – The South African Revenue Service (SARS) will be engaging with religious institutions on its plans to investigate tax non-compliance in the religious sector. This is according to a statement issued by SARS on Friday. SARS reached the decision after a preliminary investigation, as well as taking into account a meeting with the…

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When do tax rates become unaffordable?

Tax rate

South Africa’s economic performance and outlook has remained under pressure throughout 2017. This has led to the country’s credit rating being downgraded to “junk status” by two of the three major ratings agencies. Reasons have been cited as to why SA’s credit rating has been negatively impacted this year such as the rising debt-to-GDP ratio…

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How to work out what rental you can afford

Property and SARS

PayProp says that in analysing the percentage of income spent on rent in South Africa’s Rental Index for Quarter 3 of 2017, it discovered that this tends to increase as income increases. Tenants in the three upper rental brackets were all paying above the recommended percentage of income as rent. The rent-to-income ratio for those…

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The 7 richest South Africans at the start of 2018


A real-time list of the world’s dollar billionaires by Forbes shows that seven are from South Africa as we enter the new year, with Christo Wiese having lost his billionaire status in December following the fallout of a massive scandal that has seen retail entity Steinhoff’s share price disintegrate over the past month. Steinhoff International’s…

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