Income Tax

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Personal income tax
An individual is personally liable to register as a taxpayer with the Receiver of Revenue in whose area he she resides. The request may be made in per
Added: 2008-07-30
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INTEREST AS A DEDUCTION
INTEREST AS A DEDUCTION A recently published Tax Board Decision concerned the deductibility of interest on a bond where the proceeds of the bond were
Added: 2008-07-30
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Provisional Tax
WHAT IS PROVISIONAL TAX? Where an individual earns taxable income that is not subject to SITE or PAYE deductions such as interest rental or business
Added: 2008-07-30
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INDEPENDENT SUBCONTRACTORS AND PAYE
The Building Industries Federation of South Africa has a standard contract for subcontracts. This standard contract contains the following clauses: Th
Added: 2009-01-12
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Wear and tear allowances
The following rates of wear and tear are allowed by SARS TYPE OF ASSET PERCENTAGE WRITE-OFF Adding machines 16.6 Air-conditioners (window type movi
Added: 2008-07-30
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SECOND PROVISIONAL TAX PAYMENTS – 2009 TAX YEAR
Until the 2008 tax year, additional tax was imposed if the estimate for the second period was not equal to at least 90% of the taxable income for the
Added: 2009-01-12
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Who is really liable for PAYE?
Synopsis A recently reported tax case highlights the importance to employers to deduct PAYE from the correct amount of remuneration, as defined in the
Added: 2008-08-09
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Interest free loan
The preamble to Income Tax case 1791 recently published in 67 SATC 230 reads as follows Gross income Interest free loan Right of use of Whether such
Added: 2008-07-30
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ARE YOU RESIDENT IN SOUTH AFRICA FOR TAX PURPOSES?
CHANGE OF TAX SYSTEM The income tax system in South Africa changed from a source-based system of taxation to a residents-based basis of taxation with
Added: 2008-07-30
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Tax and Receipts from fraudulant activities
The issue in 67 SATC 1789 was whether amounts paid by investors in a fraudulent and unlawful pyramid scheme to the taxpayer were received as gross inc
Added: 2008-07-30
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Tax Returns and compliance
All persons in receipt of taxable income are under an obligation to render a return of such income once per tax year to the Receiver of Revenue. There
Added: 2008-08-23
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Tax Filing Season Dates 2009
The filing season for individual taxpayers and trusts will start in July 2009. Taxpayers and trusts who file their tax returns manually must file th
Added: 2009-02-19
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OFFICIAL INTEREST RATES
INTEREST RATES Interest rates charged on outstanding taxes duties and levies and interest rates payable in respect of refunds of tax on successful ap
Added: 2008-07-30
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FOREIGN TRAVEL ALLOWANCE LIMITS PER CALENDER YEAR
The total amount of foreign exchange which may be availed of by South African residents with regard to travelling expenses during a calender year in r
Added: 2008-07-30
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Tax avoidance
As a general rule a transaction agreement or arrangement must have a commercial purpose in order to be classified as acceptable for the purpose of inc
Added: 2008-07-30
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Directors PAYE
DIRECTOR - MEMBER Any member of a Close Corporation who holds any office or performs functions similar to the office or functions of a director of a c
Added: 2008-07-30
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Special concessions to farmers
Farmers are not taxed in the same manner as other taxpayers and are subject to the provisions of the First Schedule to the Income Tax Act. This sets o
Added: 2008-07-30
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Interest as a Deduction
In a recently published Special Board decision the Commissioners practice note was challenged. Practice note number 31 reads as follows To qualify as
Added: 2008-07-30
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2008 TAX RATES FOR INDIVIDUALS
TAX RATES FOR THE YEAR OF ASSESSMENT ENDING 28 FEBRUARY 2008 (2008 YEAR OF ASSESSMENT) Taxable Income (Rand) Rates of Tax 0 112 500 18 of each R1 112
Added: 2007-02-28
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Beskou die keiser jou as n boer
Deur Hendrik Coetzee GR(SA) H Dip Belastingreg MCom DCompt van Advanced Tax Practitioners (Edms) Bpk en voormalige hoogleraar by RAU Synopsis The Rec
Added: 2008-07-30
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Tax, Financial and Accounting Jobs

Accounting and Tax

Payroll Tax (PAYE)