As the upcoming tax season approaches, we want to make the process less painless and a bit more enjoyable (or at least less daunting!). We’ve prepared a tax preparation checklist that will guide you through the necessary steps, minus the boring tax jargon. Let’s make taxes as painless as possible! Tax Prep Checklist # List 1 ⃣ Gather all relevant documents: 2 ⃣ Review personal details: 3 ⃣ Declare additional… Read more
118 Budget Summary The news flow in this year’s budget is probably best described as neutral. The good news is that SARS revenue collections were ahead of budget (as SARS collection agents we will take some credit – queue the high fives!). So, no tax increases, but in fact tax relief for individuals and businesses in the form of incentives for investment in solar generation. The bad news is that… Read more
Cryptocurrency tax principles for South Africans SARS applies the normal income tax rules when it comes to Cryptocurrencies, in fact, the term Cryptocurrency is not even defined in the Income Tax Act. So, if you have bought and sold Cryptocurrency in the recent past what does that mean for you as far as your tax is concerned? Here is a short summary: The tax treatment of crypto assets would essentially… Read more
Tax planning starts with a very simple set of key objectives and can vary from person to person. The primary objective of most people when it comes to tax is peace of mind. Peace of mind knowing that you are tax compliant. To be tax compliant means that you are up to date with all your SARS returns and don’t owe SARS any money. The simplest way of proving that… Read more