You qualify as a provisional taxpayer if you earn money that SARS is not aware of. In other words, you are not earning a monthly salary from which tax is deducted by your company and you are supplied with an IRP5. You could fall into this category if you are a landlord, you run a small business or are a freelancer and if you have investments. [divider style='full'] Provisional tax is not another entity apart from income tax. SARS defines ...

SARS announced its rules and regulations for the 2018/2019 tax year at a recent briefing. The tax return threshold has been raised from R350,000 to R500,000. Until this announcement, people earning less than R350,000 a year could qualify to not to have to file a tax return. This threshold now sits at R500,000. People who make less than this amount each year no longer have to submit a tax return. [divider style='full'] ...

The working class of South Africa are under pressure and for many of them, the situation in the country is not helping either. The economy is but a shadow of what it used to be and many believe that won’t change for the better any time soon, if ever. With all the corruption and misspent tax money, it shouldn’t come as a surprise that those who have the means to emigrate are acting on those impulses more and more. After ...

The South African financial situation is volatile, to put it mildly. Markets are makings more turns and dips than a meandering road and investors are anxious. The locals aren’t at ease either. In recent years there has been an increase in emigrants from the country due to the uncertainties and many South Africans, who are already working abroad, has a new headache to deal with. [divider style='full'] ...

Bitcoin was the subject of many a conversation at the weekend braais all over the country last year. A number of people invested early in Bitcoin and excitedly told their friends they had to invest too. Others woke up a bit late and were sorely disappointed when they invested and made some devastating losses. What many people did not think about while they were caught up in a frenzy, was how SARS regulates cryptocurrencies. [divider style='full'] ...

There are some people who are unaware that you can get a criminal record if you don’t file a return. The only exemption is if you earn under a certain threshold – check with SARS or your accountant. However, even in this case, tax accountants advise that you still file a return. It could be that you have been filing returns and have reached pensionable age or are unemployed. In this case, if you or your tax accountant are still ...