Just One Lap

Provisional tax exists to secure regular cash flow for government throughout the year, similar to the PAYE system. Where PAYE applies to remuneration, provisional tax applies to non-salary type income. As with PAYE, provisional tax doesn’t operate as a separate tax, but rather as the prepayment of a yet to be determined income tax liability. ...

In this blog, we dig a little deeper into the tax realm of medical aids and expenses. As a taxpayer, you’re essentially entitled to two medical tax credits: 1. A credit on contributions made to your medical aid, and 2. A credit on additional medical expenses you paid that weren’t covered by your medical aid. ...

In this blog we’ll look at what it means to be a taxpayer once retired. Before we start, it's important to keep in mind that a retirement annuity (RA), pension or provident fund may usually only be accessed at a certain age. If you’re planning an early retirement, it would be advisable to have funds ...

Within the context of tax, an individual, a company or a trust can own property and earn income. This income could be trading profits, capital gains, dividends, etc. Holding assets in one’s own name is, obviously, the simplest and most cost-effective of these three entity types. That being said, the tax benefits linked to a ...

Last month’s blog touched on how dividends tax is applied when a local company declares dividends. In this month’s blog, we’ll look at the tax implications when a foreign company declares dividends. Dividends declared by foreign companies are only subject to dividends tax in South Africa if the foreign company is also listed on the ...

With the new tax year kicking off on 1 March 2018, we've created a list of important things to keep in mind when planning your tax returns. Watch the budget speech The first item on your to-do list should be ticked off before the tax year even starts. Tune in to the annual national budget ...