Minister of Finance Tito Mboweni has announced a number of "exceptional tax measures as part of the fiscal package outlined by President Cyril Ramaphosa to fight the coronavirus pandemic.
Interest in Section 12J has grown each year, with the current financial year being no different, says Jonty Sacks, a partner at Jaltech.
Budget 2020 includes 'a desperate attempt' to change the minds of those South Africans changing their tax residency to avoid expat tax, two experts say.
Finance minister Tito Mboweni said “financial emigration” will be phased out by March 2021.
Amendments to SA's tax law mean SA tax residents working abroad will only be exempt from paying tax on the first R1 million they earn abroad.
Two Cape Town businesspeople have been sentenced to 16 and 17 years direct imprisonment for 487 counts of tax fraud, racketeering, money laundering and corruption, SARS said on Friday.
A 12J investment is available to individuals, companies and trusts and is 100% tax deductible in the year of investment. Dino Zuccollo offers some advice on how to determine which one to select for investment.
If you are a South African working abroad and still a tax resident in SA, the so-called "expat tax" will come into effect from 1 March, 2020. Here's who it will impact most, and how.
Many investors do not fully understand the tax incentive and structure of a Section 12J venture capital investment, according to a managing director involved in this sector.
President Cyril Ramaphosa last week signed five bills relating to tax administration and other division of revenue proposals for the 2019 fiscal year.
International work-related travel expenses have remained unchanged, but own-car travel rates have increased.
Changes to the South African tax law relating to so-called "expat tax" will only impact those who are regarded as SA tax residents as defined by the Income Tax Act.
Tax crime is not a victimless crime, says SARS Commissioner Edward Kieswetter.
Finance Minister Tito Mboweni has announced that transfer duty will no longer apply to properties that cost R1 million or less.
Minister Tito Mboweni may be tempted to increase sin tax in a bid to plug the tax gap. He shouldn't.
By the end of February, most taxpayers are looking for every opportunity to reduce their tax liabilities.
A tax expert takes a closer look at where there could be scope for Minister of Finance Tito Mboweni to make up the shortfall.
SARS said it would also modernise its system to provide a streamlined offering to the public.
Experts have criticised a proposed tightening of legislation intended to crack down on abuse of the Section 12J tax incentive, saying it could stifle growing SMEs just as the incentive begins to deliver results.
Fin24 asked financial experts how they would grow R10 000 in the new year. Here's what they said.
Cape TownTumaini ConsultingR460 000.00 - R600 000.00 Per Year
Cape TownE-Merge IT RecruitmentR600.00 - R650.00 Per Hour
Western CapeWork In China R20 000.00 - R45 000.00 Per Month
Apartments / Flats
R 1 750 000
R 3 700 000
R 2 950 000
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