How to Register Your Business in South Africa: A Step-by-Step Guide
Registering a business in South Africa is essential to ensure your company operates legally and complies with local regulations. The process can be straightforward if you follow the proper steps. Here’s a guide to help you through the registration process. Step 1: Choose Your Business Structure The first decision you’ll need to make is the […]
Tax and Retrenchment: A Potential Minefield
Retrenchment can be extremely taxing … in more ways than one! Being retrenched is a traumatic experience regardless of your place on the corporate totem pole. However, the stakes tend to be higher for more senior employees – not only in terms of the larger sums involved when it comes to separation packages, but also […]
SARS’ “Lie Detector” Tests
Are you fiddling your taxes? Here’s how SARS can catch you… In the old South Africa, the favourite national pastimes were braaivleis, rugby, and cheating on your tax returns. This was made easier by the fact that the Receiver of Revenue of old operated in an environment where no two offices even talked to one […]
Travel Claims, but No Allowance?
For commission-earners and the self-employed, the rules are slightly different—but travel costs can be claimed. The mistake that I make when writing articles about travel allowances is that I tend to forget that not all of us are ‘wage slaves’. Indeed, there are many taxpayers for whom the saying, “If a man will not work, […]
Understanding the Foreign Services Income Exemption: The Requirement for Service Rendering
Many articles have been written about the application of the foreign income exemption provided for under Section 10(1)(o)(ii) of the Income Tax Act. This section provides for an exemption from South African tax from specific employment income earned while rendering services outside South Africa. The section limits such income qualifying for the exemption to any […]
What to Do if You Owe SARS Money
Owing money to the South African Revenue Service (SARS) can be stressful, but don’t panic. By understanding your options and taking prompt action, you can resolve the issue and minimise the impact. This guide will equip you with the knowledge you need to navigate a tax debt situation. The importance of addressing tax debt Take […]