Category: Tax Tips & Advice For You & Your Business

Capital Gains Tax on Land

When it comes to determining Capital Gains Tax on land that you plan to dispose, PATC will be able to assist you throughout every step of the process. Capital Gains Tax (CGT) is a tax that is given on any capital gain, when certain assets such as investments or property are sold, destroyed or disposed…

Capital Gains Tax on Real Estate

For homeowners concerned about their liability of Capital Gains Tax (CGT), PATC offers professional accountant services to assist with all aspects of this real estate tax. Capital Gains Tax is payable on the sale of real estate in South Africa. This tax is therefore something that affects every South African who is planning to sell…

Capital Gains Tax on Shares

The purpose that your shares serve will determine whether your shares will be charged for Income Tax or Capital Gains Tax, and your professional accountant is the best person to give advice on whether you are liable for CGT on your shares. If your shares are intended as trading stock used to resell, any gain…

Capital Gains Tax on Trusts

When it comes to Capital Gains Tax (CGT), PATC are able to assist with all areas including taxation on investment assets such as trusts. Capital Gains Tax is applied differently to every asset, which means that what may apply for certain assets may not always apply to other assets. When it comes to trusts, you…

Retirement Annuities and Tax Savings

Investing in an RA provides a disciplined way of saving and RA’s are tax-deductible up to a certain maximum and can provide great tax savings. The end of the tax year is a good time to maximise the tax breaks SARS allows on retirement annuities (RAs) by topping up with additional contributions, perhaps that year-end…

Retirement Annuity Tax

One of the many services offered by PATC  is assistance with Retirement Annuity Tax. While planning for retirement is something that every South African should be considering, the shocking reality is that only nine in every 100 South Africans have made adequate provisions for retirement. When the time comes for you to retire, how well…

Tax Awareness

60 Seconds is not enough to cover the finer details of tax awareness. As a professional, it is good to educate clients and the general public on accounting & tax issues, not everyone gets the opportunity to master every field of business. It is important to use the resources and expertise around you. A tax…

Tax Allowances and How They Work

Business tax services includes a number of areas that business owners need to consider, including tax allowances for employees, and exactly how these allowances work. Employers are obligated to pay certain allowances for employees, particularly in the case of travel, vehicle and other taxable allowances according to the Income Tax Act No. 58 of 1962,…

What Is Taxable Income?

Income tax is levied on all income and profit that is received by the business owner, companies and organisations. This tax type is also the national government’s main source of income and is set by the Income Tax Act No. 58 of 1962. A number of taxes also fall within the income tax category, including…

What Are Income Tax Deductions?

Business tax services are about so much more than simply registering for income tax, these services also cover aspects such as income tax returns. To be able to complete your tax returns efficiently and correctly, you will first need to have a clear understanding on tax deductions to ensure that you do not either claim…