Capital Gains Tax

Capital Gains taxIf you own an asset – including property and shares – you may be wondering whether you’ll be liable to pay Capital Gains Tax when you sell it.

Capital Gains Tax, or CGT, has been a part of the South African tax landscape since it was introduced in 2001. To help you understand what this tax is, who and what it applies to, and under what conditions you’ll be expected to pay it, we’ve put together a quick guide to CGT. Let’s get started. Continue reading

The Role of Taxation in Financial Planning

tax issuesTaxation is a topic that many people don’t like to dwell on, and for good reason – it’s never pleasant to talk about losing money. Although taxes are a part of everyday life, it’s easy to forget the impact of taxation on our net worth. Whether you are working hard to build your investment portfolio or are just a few years away from retirement, taxation will impact your finances directly. Continue reading

Company Cars, Personal Use, and PAYE

company-car taxEmployees who have the use of a company car may sometimes use the vehicle for personal use – this is a fringe benefit which must be taxed by adding it to the employee’s PAYE each month. If you have an employee who has been assigned a company car this taxation process is essential in order to comply with SARS regulations. Here is a quick guide to the taxation of personal use on company vehicles: Continue reading

Tax Concessions for Disabled People

disabled-businessmanSouth African taxpayers with disabilities are entitled to various deductions from their income tax in terms of changes to the tax regulations which were announced by SARS for the 2009/2010 tax year.

However, many taxpayers who are disabled are either not aware of these concessions or do not realise just how much they could save on their income tax by making full use of them. Continue reading

Provisional Tax – The New Tax on Dividends

dividends-taxThe new Dividends Tax came into effect in South Africa on the 1st of April, changing the way taxation on share dividends is collected. This new legislation means that the tax shareholders pay on dividends will be deducted from the dividend before it is paid out, and understanding the new law is essential to prevent confusion when filing your provisional tax returns. Continue reading

Marriage – The Tax Implications

tax-law-married-couplesGetting married is an exciting and important decision, and for many couples it is the most important decision they will ever make together. While tax may be the last thing on a couple’s mind when they plan their future together, the South African tax laws do apply differently to married people. Continue reading