Provisional Tax is a critical component of the South African tax system, helping to spread the tax burden for individuals and businesses throughout the year. As a provisional taxpayer, it’s crucial to stay on top of your deadlines to avoid unnecessary penalties and ensure smooth financial operations. What is Provisional Tax? Provisional Tax is a…
As the 1st Period of the 2025 Provisional Tax Season approaches, it’s essential for South African taxpayers to be prepared. Submissions are due in August 2024, and staying informed can help ensure a smooth filing process. What is Provisional Tax? Provisional tax is a method of paying your income tax liability in advance to prevent…
Tax Court Member Reappointment Professional Accountants and Tax Consultants (PATC) is proud to announce the reappointment of Gavin Bacon as an accountant member of the Tax Court of South Africa. This prestigious appointment was recently made on the 4th of January 2023. Gavin is no stranger to the Tax Court having been a previous Commercial…
While working remotely has become a norm for many companies it does come with certain complications such as a scattered workforce and its various tax implications. While many offices are equipped to help employees work efficiently, working from home for long periods of time can become challenging, the need for equipment and supplies therefore becomes…
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…
As you by now know – clients can claim from TERS (UIF). However, more lenient coverage has come about with effect from 30.4.2020 and was broadcast by SAIPA today. Click here and here to download and read the documents for more specific information.
At PATC, we assist with business rescue, which is defined by the Companies Act 2008 with an aim to facilitate the rehabilitation of a company that is “financially distressed,” by providing for: the temporary supervision of the company and management of its affairs, business and property by a business rescue practitioner, a temporary moratorium (“stay”)…
