Whether we like it or not, society can not function without some sort of tax system in place.
A key finding in the survey is that a large portion of South Africans are disappointed with their financial circumstances, and yet feel like they do not have the knowledge to tackle these issues effectively.
In order to join the top 1% of the wealthiest South Africans, you need to make almost six times more than the average earner. But that doesn’t mean life is all rainbows and butterflies.
Tax. The word alone sends shivers down your spine, never mind the discomfort you might feel spending just one day queuing at your nearest SARS branch.
The tax year runs until the end of February 2023, which means there is still a bit of time to make sure you’re maxing out your tax benefits before the end of the 2022/2023 period.
The battle between SARS and Wiese is very far from over. However, the first-round win must be awarded to SARS after a ruling handed down by the Western Cape High Court.
Being paid in pounds or Euros or dollars and getting to spend them in South Africa is the dream. Dealing with SARS, on the other hand, can be a nightmare.
Deciding to live location independent to pursue a career that supports the island-hopping, “working near the waves” lifestyle does come with a few considerations and some irritating admin.
SARS generally issues warnings about scams as tax season kicks into gear and this year is no different.
Social media is full of South Africans wondering (pleading) where their refunds are, having been quick of out the blocks come July 1.
Over the past decade, in excess of 4 500 high-net-worth individuals (HNWIs) have left South Africa and headed abroad.
Deciding to emigrate isn’t as simple as selling your house and booking a flight abroad, of course, and that’s especially true when it comes to dealing with SARS.
If you live in South Africa and your social media feeds show luxury assets, you better hope you have the payslips to justify that high life.
SARS Commissioner Edward Kieswetter has made it clear that tax rogues are in the crosshairs, and recent action backs that up.
Estimates on the cost of permanently increasing the Basic Income Grant vary wildly, with one study ranging between R160 billion and R520 billion annually.
Let me first ease your blood pressure by saying that January 31 is the deadline for provisional taxpayers, including trusts and companies.
According to one recent estimate, as many as 85% of working from home tax deduction claims submitted by individual taxpayers are being rejected by SARS.
The change would have a serious impact on those whose retirement plans involve moving abroad, so it’s being closely monitored.
In May, SARS announced it was forming an HWI unit, aimed at improving compliance amongst the country’s wealthiest citizens.
Fail to pay your taxes, and SARS will come knocking, with a number of new initiatives targeting everyone from businesses through to wealthy South Africans.
The National Treasury has now proposed a further tax on South Africans who intend to emigrate permanently.
SARS is being rather proactive this year, with the first batch of ‘welcome letters’ to high wealth individual taxpayers already sent out.
Tax season – if those two words send shivers down your spine, you’re not alone. Here are the most important dates to jot down so you don’t miss a deadline.
SARS issued a statement this week pointing out a high degree of non-compliance in the short-term rental sector, with Airbnb income clearly under scrutiny.
Simple mistakes that might previously have earned taxpayers a slap on the wrist could now see you spending up to two years in jail.
SARS is being inundated with desperate calls from taxpayers who have fallen victim to scammers promising to secure large tax refunds.
Nobody likes receiving the news that they’re under audit from SARS, but there’s no need to panic just yet.
The Pretoria High Court has ruled in favour of the taxpayer in a recent court case, which has implications for how SARS collects your tax.
In order to give South African businesses and business owners the best chance of obtaining financial relief, Galbraith | Rushby have summarised what help is available.
The so-called ‘Expat Tax’ changes have been looming large in the distance for a while now, but the time for implementation has almost arrived.