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Posts tagged SARS
Provisional Tax Submissions – August 2019 for the Tax Year Ending February 2020

In August it is time again for the first provisional tax submissions for individuals registered for provisional tax along with all companies and entities.

We have received a lot of questions around provisional tax for individuals and if they should be registered for provisional tax.  What does this mean for individuals?

We thought it will be a great idea to remind everyone what provisional tax is and ask people to start sending their information to us.

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Annja LoucaSARS, Tax
Financial Emigration - All You Need To Know

This has been a hot topic and we have been preparing for these changes for a while, but let’s break it down to understand why this is now important and needs to be considered per individual.

If we go back to what the act says about residency, in South Africa we have a tax-residency based system. This means that South Africans are subject to tax on worldwide income. You are a SA resident if you are ordinarily resident (defined in common law) in South Africa during a year of assessment.

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How to Deal With The New VAT Rate

The VAT rate have increased in South Africa from 14% to 15% starting from the 1st of April 2018.

If you are using Pastel as an accounting software, please contact us and we can assist you in setting up the new tax type. This will not be done automatically.

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Annja LoucaSARS, VAT
Tax Directives - What Exactly Is It?

A tax directive can be quite handy if you as the individual tax payer is going to earn a huge bonus or commission payment from your employer or will receive a retirement fund pay-out. A tax directive is an instruction from SARS to allow an employer or fund manager to deduct a different tax % of PAYE or withholding tax.

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