BFS Konsult

The Business of Business Travel

Business travel means different things to SARS than to taxpayers. While it has been compulsory for recipients of travel allowances to substantiate their claims by means of a detailed logbook for some years, it has become ever more critical to understand exactly what SARS understands by the term ‘business travel’. The simple reason for making […]

General Principles for Tax Deductions

When can you deduct an expense?  Section 11(a) contains the general principles One of the most-asked tax questions goes along the lines of “can I deduct xxx against my income?” There are two ways to answer this type of question. One is to create a never-ending list of every type of deduction one could contemplate, […]

Tax breaks for retirement funding

While there are very few tax breaks for individuals, some huge ones are available for retirement funding. Retirement tax breaks in South Africa are designed to incentivise individuals to save for retirement and provide them with tax relief on contributions to retirement funds.  The government has implemented various tax incentives over the years to encourage […]

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