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Tax and it’s effects on a deceased estate

In recent years, the effect of various taxes on a deceased estate has become more and more important to take into consideration when attending to estate planning prior to the drafting of one’s Will. This is according to Anica Ungerer, Director in the Wills and Estates Department of Mazars, who provides a brief overview of…

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Tax requirements for moving to Mauritius

The number of South Africans leaving the country permanently has increased exponentially and many are opting for Mauritius. For young entrepreneurs and company executives who are looking to emigrate and shift their assets to Mauritius, the most obvious choice is an “occupation permit as an investor”. This allows them to set up locally registered companies…

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How SARS will deal with South African’s Tax Revolt

South African Revenue Service (SARS) commissioner Edward Kieswetter has stated that the revenue service needs to prosecute tax dodgers to prevent a widespread tax revolt. Speaking to the Sunday Times, Kieswetter said that the public wants to see more criminals brought to justice for dodging their taxes. He added that rising levels of tax avoidance…

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Beware tax refund scam, Kaspersky warns

A wave of fraudulent tax refund letters was launched at unsuspecting taxpayers globally, according to Kaspersky’s Spam and Phishing Report for the second quarter of 2019. The internet security firm says scammers want to make the most of the time of year when there are usually deadlines for tax submissions and taxpayers expect tax refunds….

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Don’t forget these deductions when submitting your tax returns

During tax season, citizens will flock to the South African Revenue Service’s (SARS) branches to submit their annual tax returns. However, when doing so, some people always focus on remuneration tax and forget about other deductions. Justmoney spoke to Adelaide Kekana, a tax consultant at Tax Consulting South Africa about allowable deductions to claim when…

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How NHI will send your taxes rocketing

I am a first-generation medical aid member and come from a family which was largely dependent on public health. My parents really struggled with inadequate healthcare for all their lives and I wonder if my dad’s life would have been lengthened with better care. My mom, who is now 89, is on medical aid because…

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Tax tips for pensioners

Pensioners

he impact of taxes is just as important to consider after retirement as it was while saving for retirement, says Morné Janse van Rensburg, manager at Hobbs Sinclair and managing director of the Bannister Trust. According to Janse van Rensburg, the SA Revenue Service (SARS) and government have over the years adjusted tax regulations to…

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