SARS recently revealed in a media statement that it has already paid more than R62.1bn in refunds to taxpayers, as of October 2. R49.8bn were VAT refunds, while the remaining R12.3bn was paid out as personal income tax refunds. SARS also revealed that more than 2.7mill...
After receiving more than 1300 written comments to its draft bills, (760 of those commenting on the financial impact of the legislation), the National Treasury has presented the points raised during the public participation process to parliament's finance committee. Th...
If you earn less than R350,000 in a year, you may not have to file a tax return in 2017 according to recent communication from SARS. However, this could mean you miss out...
1. No return, no refund. A tax refund is money that you have overpaid on your taxes and money t...
“It is important for taxpayers expecting a refund to note that SARS has this year implemented additional risk processes to ensure both the legitimacy and accuracy of the refunds paid. SARS has an obligation to both taxpayers as well as to the fiscus to ensure that frau...
Filing season officially opens on July 1st, here's why you should beat the pack and submit your taxes sooner rather than later...
1. First In, First Out. During the beginning of July SARS has more assistance from other sections to finalize all their audits/reviews. This...
If your commission income is more than 50% of your total annual income indicated on your IRP5, you qualify to claim against all business related expenses.We can assist with all expense claims related to your commission income - like vehicle and travel expenses or even...
CASH VS CARD - Which should you use? SARS requires proof of all the expenses that you claim in the tax year so we recommend swiping your card when paying for business expenses. This makes it easy to keep track of all your transactions. You can pay cash and use the rece...
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