South Africa taxes its residents on their worldwide income. When double tax agreements (DTAs) don’t apply and the circumstances of the foreign income you earn aren’t specifically covered by the Income Tax Act, the originating cause of the income must be interrogated to determine its source.

The term ‘residence’ is extremely important when you are considering the financial and tax implications of emigration. In this article I’ll focus on the two forms of residency that cause the most confusion: Excon residency and tax residency. 

“We need to strike a critical balance between saving lives and livelihoods, while supporting inclusive growth. This budget presents this balance.” Finance Minister Enoch Godongwana Budget 23 Feb 2022.

What is capital gains tax (CGT), and when does it apply? Understand ‘Base cost’ and ‘proceeds’ for calculating CGT and the relation between your Income Tax and your CGT.

It’s peculiar that we reinforce the importance of having a tailored investment strategy, yet we neglect to consider the need for a tailored tax strategy. First, let’s debunk two tax strategy myths: 1.) The sole purpose of any tax strategy is the evasion of liability, and 2.) Your commercial decisions should be dictated by tax considerations.

Tax rules governing share incentive schemes are complicated. Here we try to help employees better understand the potential tax consequences.

It’s not uncommon for South African tax residents to find themselves working for their South African employer abroad, or being headhunted by a global company. Whilst this allows South African tax residents the freedom to travel, it does raise the question of where income earned abroad will be taxed.

In this post we take a closer look at the what’s and but’s of claiming tax deductions for the cost of assets that are essential to your home office business. Can you claim for the cost of your DJ-ing equipment? And how about your drums? Your chair?

This month we look at tax deductions that might apply for health practitioners in smaller practices. There are various deductions allowed, however we cannot emphasise enough: If SARS comes knocking at your door questioning an expense, you need to ensure that you have sufficient documentation to prove the expense.

SARS’s filing season doesn’t need to be unbearable. In this post we explain what you need to do to ensure that you’re prepared. Then you can avoid any potential headaches! 

Considering the low interest rates currently available, you may be more tempted to either buy your first home or build up a property investment portfolio. In debating which decision to make, you should always keep the potential tax consequences in mind. We explain the ABCs and T&Cs of Capital Gains Tax on residential property.

When shares are sold the question always gets asked: How much of the purchase price needs to go to SARS? This will depend on whether the sale is subject to capital gains tax or normal income tax.