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Travel Allowances

COVID-19 has far-reaching effects for the South African taxpayer and, unbeknown to many, may be silently increasing their tax liability for the 2022 year of assessment. In some cases, the purpose for granting a travel allowance to employees (and the same applies to company vehicles) has been subverted by the pandemic, where business travel may…

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Deadline for tax has been extended

In terms of section 25(7) of the Tax Administration Act, 2011, I, Edward Christian Kieswetter, Commissioner for the South African Revenue Service, hereby prescribe that the date on which an income tax return relating to a provisional taxpayer that is submitted on the SARS eFiling platform must be submitted in terms of paragraph 4(b)(iii) of…

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2020 Tax Season Changes

Due to the COIVD19 pandemic and the restrictions implemented, SARS has made changes to the 2020 season process. The 2020 tax season opens on the 1st of September 2020, and closes on the 16th of November 2020, for online submissions, and 22 October 2020, for branch filings. The 2020 return covers income activities – i.e. income received and…

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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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D-day for individual tax returns looms

Tax return 2018

The last day to file individual tax returns without being penalised is Wednesday October 31 2018. The SA Revenue Service has appealed to SA taxpayers to submit their returns at branches or via eFiling before the cutoff date, or face administrative penalties ranging from R200 to R15 000. Due to a likely last-minute rush which…

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Taxpayers remain responsible for their tax affairs

Salary

Several taxpayers have in recent times learnt the hard way that they ultimately remain responsible for their tax affairs. They have been named and shamed and fined for not filing their tax returns, in many instances multiple returns over several years. Many have made use of accountants and tax practitioners to assist them with their affairs….

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