SARS Attacking Your Medical Tax

Your Medical Tax Credit under attack by SARS

Taxpayers and tax practitioners have in recent months been surprised to find their medical claim tax credits queried by SARS. Up to this year the processing of the tax credit has gone smoothly. To many taxpayers such as those with disabilities, pensioners and lower income taxpayers their tax credit is significant. What is SARS querying? The Medical Tax Credit is …

changes in company act

Be Ready for The Changes Coming to The Companies Act

Cabinet has approved the most wide ranging amendments to the Companies Act (the Act) since its launch in 2011. Some of the important issues are briefly highlighted below. They are of course only proposed changes at this stage, published for comment and therefore subject to alteration (the comment period closes on 14 December). But take note of them now and …

Mid term budget speech

Danger in December : The Medium Term Budget Speech and the Rating Agencies

The new Minister of Finance didn’t have much time to prepare for the Medium Term Budget Speech (MTBS) but he carried it off well. The MTBS is a three year outlook for the government budget and was introduced by Trevor Manuel to increase transparency into our budgeting process. Our Big Challenges For the last nine years, Treasury has fought hard …

Taxpayers Note: How To Upload Supporting Documents Using eFiling

SARS have instructed that taxpayers on eFiling need to submit supporting documentation as follows: Files should be no more than 5mb each. You can upload up to twenty files. Document types need to be: Excel (xls or xlsx) or Word (doc or docx). You may also use PDF, jpg or gif files. Set your scanner to black and white and …

Let’s Be Realistic and Positive and explode into 2019

“The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails” (William Arthur Ward)   As we wind down from a challenging year, perhaps it’s a good time to reflect on how we can make sure that 2019 is a year of positivity and recovery for South Africa. Most of us are pessimistic about …