Many South African businesses act as agents—buying or selling goods and services on behalf of clients. This can be a practical solution when clients prefer not to manage suppliers themselves and are happy to pay a fee for someone else to handle the logistics. After listening to Pieter van der Zwan’s TaxBreak podcast episode on VAT and agency relationships, I revisited Section 54 of the VAT Act to unpack what it means for VAT-registered businesses operating in this way.

Auto-assessments notices started on the 7th of July until the 21st of July. This means that SARS has taken all the information submitted by 3rd parties and prepared your tax return. You no longer need to approve your return, and SARS will pay out your refund within 72 hours of the assessment.

At our firm, we’re committed to helping you stay compliant, informed, and stress-free when it comes to tax matters. Whether it’s VAT, PAYE, or Income Tax, we’re here to support you every step of the way. But we need your help with something important.

One of the most notable changes is the automation of the application process for requesting relief from South African tax under Double Taxation Agreements (DTA) for pensions and/or annuities. This means that you can now submit your applications via eFiling, making the process more efficient and reducing the need for manual interventions. SARS aims to evaluate these applications within 21 working days.

Turnover tax is a simplified tax system aimed at reducing the administrative burden for small businesses with an annual turnover of less than R1 million. If your turnover exceeds R1 million, you must register for VAT and pay tax at standard rates. Businesses can be registered for both turnover tax and VAT (voluntary registration).

As the 2025 individuals tax season approaches, it's essential to start gathering the necessary documents to ensure a smooth and timely submission of your tax return to the South African Revenue Service (SARS). You are more than welcome to start sending this to Pumeza and we will save this on file. We aim to make this process as seamless as possible for you. Below, we've outlined the key dates for the 2025 tax season and a comprehensive list of documents you'll need to provide us. Additionally, we'll explain the auto-assessment process and how we can assist you with it.

As we approach the end of February 2025, it's time for a friendly reminder about some important tax deadlines. The second provisional tax payment is due by the end of February 2025. 

This is a crucial deadline for all taxpayers, and it's essential to ensure that your payments are made on time to avoid any penalties or interest from SARS.

As your trusted accountant, I want to share an incredible opportunity for you to grow your wealth without the burden of taxes. Introducing the Tax-Free Savings Account (TFSA) – a powerful tool designed to help you save more efficiently.

A Tax-Free Savings Account (TFSA) is a special type of savings account that allows you to earn interest, dividends, and capital gains without paying any tax on these earnings. This means that all the growth in your investment remains entirely yours, free from the clutches of the taxman.

The South African Revenue Service (SARS) has recently updated the definition of "residence" in the VAT Act, effective from the 1st of January 2025. The recent change in the VAT Act's definition of residence was made to align the VAT regulations with the criteria used in the Income Tax Act. This alignment aims to provide clarity and consistency across different tax regulations, ensuring that the criteria for determining residency are uniform.