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How Tax Returns Will Be Easier This Year, and Should You File if You Earn Under R500,000?
“Death and taxes may be inevitable but they shouldn’t be related” (J.C. Watts Jr)” Tax season 2019 begins on 1 August (1 July for...
Bloomsa
Jun 27, 20193 min read
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How Many Days Did You Work For The Taxman In 2019?
“Tax Freedom Day is calculated by dividing general government revenue by GDP at market prices, then multiplying the result by the number...
Bloomsa
Jun 27, 20192 min read
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Youth Employment Tax Incentive Extended for Ten Years
There is chronic unemployment in the country and it is especially felt by the youth where up to 50% cannot find a job. The Employment Tax...
Bloomsa
Jun 27, 20191 min read
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Your Tax Deadlines for July 2019
There are only run-of-the-mill deadlines for July – 5 July – PAYE submissions and payments 25 July – VAT manual submissions and payments...
Bloomsa
Jun 27, 20191 min read
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Your Tax Deadlines for July 2019 and Good News for Taxpayers
Firstly, there are no major deadlines in June but tax season opens in July, so make sure you have all your documentation ready for your...
Bloomsa
May 30, 20192 min read
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Small Businesses: Make The Most of Your Tax Breaks!
“There are two systems of taxation in our country: one for the informed and one for the uninformed.” (U.S. Judge Learned Hand) Whether...
Bloomsa
Apr 30, 20193 min read
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Tax and Solar Energy Plants: Your Business Can Deduct the Costs Upfront
“If only there was some kind of an infinite power source that was free to use all day every day…” (Anon) In a recent binding ruling, SARS...
Bloomsa
Apr 30, 20191 min read
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SARS – Important Update on VAT for E-Services from Foreign Suppliers
This has been causing waves since SARS stated its intentions of making electronic services subject to VAT last year. Now the final...
Bloomsa
Apr 30, 20192 min read
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Your Tax and Other Deadlines for May 2019
Your Employer Annual Reconciliation Declaration (EMP501) for the period 1 March 2018 to 28 February 2019 is due on or before 31 May. This...
Bloomsa
Apr 30, 20191 min read
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Expat Tax: How Will The Changes Affect You?
“A fine is a tax for doing wrong. A tax is a fine for doing well.” (Ecard humour) (Note: If you aren’t yourself an expatriate, please...
Bloomsa
Mar 27, 20193 min read
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Sugar Tax: Good for the Taxman, Bad for the Sugar Industry
“If governments tax products like sugary drinks, they can reduce suffering and save lives. They can also cut healthcare costs and...
Bloomsa
Mar 27, 20192 min read
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What Our New Tax Statistics Tell Us
There are only run-of-the-mill tax deadlines in April, but some interesting information emerged from the recently-released 2018 edition...
Bloomsa
Mar 27, 20191 min read
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VAT Taxpayers: New Relief on Correcting Tax Invoices
There has been an anomaly in VAT law which new legislation has now largely resolved. The problem with the old position It has always been...
Bloomsa
Feb 27, 20192 min read
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SARS Warns Taxpayers: “Use Only Registered Tax Practitioners”
There are no major tax deadlines for March but SARS is again warning taxpayers to – Only use registered Tax Practitioners, Ask for the...
Bloomsa
Feb 27, 20191 min read
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Your Tax Deadlines For February 2019
The second provisional tax payment for the 2018/2019 tax year is due by 28 February. If your taxable income is below R1 million your...
Bloomsa
Jan 31, 20191 min read
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Deemed Accruals Can Seriously Disrupt Your Cash Flow – A Tax Lesson for Property Developers
A recent Supreme Court of Appeal (SCA) judgment has confirmed a view that our courts have held for a long time – namely that when a...
Bloomsa
Jan 8, 20192 min read
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Be Aware Of the Changes to VAT on Electronic Services
The Minister of Finance warned in his 2017 Budget speech that VAT on electronic services would be widened. Treasury has now published...
Bloomsa
Jan 8, 20192 min read
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Your Tax Deadlines for January 2019
Provisional taxpayers who use eFiling need to submit their 2017/8 Income Tax Return on or before 31 January 2019. You will have noticed...
Bloomsa
Jan 8, 20191 min read
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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....
Bloomsa
Nov 28, 20181 min read
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Is SARS Attacking Your Medical Tax Credit?
Taxpayers and tax practitioners have in recent months been surprised to find their medical claim tax credits queried by SARS. Up to this...
Bloomsa
Nov 28, 20182 min read
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