If you have moved abroad permanently, or you are planning to, there is one piece of admin that quietly costs people more money than almost anything else they get wrong on their way out. Ceasing your tax residency with SARS. Until you formally cease tax residency, SARS will continue to treat you as a South…
The short answer is yes. A recent Supreme Court of Appeal ruling has confirmed that your accountant in the Tax Court is now a valid alternative to briefing an attorney or advocate. Your accountant, your tax practitioner, or any other duly authorised person can stand up for you when you take on SARS. For many…
Your complete guide to a clean submission, with the new Income Tax Reference Number rule, the most common rejection reasons, and what happens if you miss the deadline. If you employ even one person in South Africa, you have an EMP501 to submit by 31 May. With 31 May falling on a Sunday in 2026,…
Notice of termination of an employee contract must be given in writing. If an employee who receives notice of termination is not able to understand it, the notice must be explained orally by employer/representative to the employee in an official language the employee reasonably understands. Notice of termination of a contract of employment given by…
What is an appeal to SARS? If you do not agree with SARS after you did an objection, you have the right to appeal to the decision. The appeal needs to be lodged with SARS within 30 business days after SARS delivered the notice of disallowance or partial allowance of the objection. This period may…
This article first appeared on BusinessTech on 28 August 2021. The National Prosecuting Authority (NPA) is issuing summonses to taxpayers with outstanding tax returns as part of a continued compliance drive by the South African Revenue Service (SARS). SARS commissioner Edward Kieswetter has pledged that the tax body will make life difficult for non-compliant taxpayers,…
Understanding personal taxation and cryptocurrency Q: What info is required to be submitted to SARS regarding Cryptocurrency transactions and in what format? A: You will need to treat it like transactions and keep a detailed report of all your transactions. For example: the date you purchased cryptocurrency, the cost amount spent on the asset, the…
Interest rates charged in terms of the legislation administered by SARS are split into three main categories, i.e. – interest charged on outstanding taxes, duties and levies and those payable in respect of refunds of tax on successful appeals and certain delayed refunds interest payable on credit amounts (overpayment of provisional tax) in terms of section…
Please take note of the following rare scenarios: An individual can have an income tax number from birth if he / she becomes liable to submit an income tax return or becomes liable for any normal tax. For example, a child born into a wealthy family may be registered for income tax if his /…
As a Director of a Company, your salary is subject to monthly PAYE and UIF deductions. Many small business owners don’t realise that if they operate their business through a company (Pty), the company needs to be registered as an employer with SARS. This means, the company needs to deduct employee’s tax (PAYE) from the…
