The amendment to section 10(1)(o)(ii) of the Income Tax Act (“foreign employment exemption”) takes effect from 1 March 2020. Presumably, employees that would be affected thereby have done the necessary planning to sidestep any potential additional tax that may follow the amendment; or at least did their homework to attenuate the impact thereof. A question […]
South African expats have been subjected to vast amounts of conflicting information regarding the amended expat law change, causing uncertainty and panic in their preparations for 1 March 2020.
Employers are constantly fighting the battle to contain salary expenses to ensure the business still report profits to shareholders, while reducing the risk of permanently shutting their doors. The reality of today’s tough economic times is often a choice between preserving a job versus rightfully demanded increases. Employee increases are few and far between, and […]
In 2019 we have witnessed the new permanently appointed Commissioner of the South African Revenue Service, so it takes little guess work to know that tax collection will become a key fiscal driver, and any offenders found guilty of non-compliance will be dealt with strictly, with the levying harsh penalties and interest being the preferred […]
CIARAN RYAN: This is CFO Talks and today we’re joined by Tanya Tosen of Tax Consulting. Tanya has over 15 years of tax and employee benefit experience, which encompasses optimising employee salary packages incorporating all benefits, both from a tax
When their market shrinks, especially in a struggling economy, companies must find ways to reduce their operational costs, and retrenchment may become an unavoidable option. It’s an unfortunate but sometimes necessary decision that can traumatise both dismissed employees and remaining staff, leaving psychological scars long afterwards.
The South African Revenue Service (SARS) is acutely aware of the decline in tax moral and tax compliance, say Thamasanqa Msiza, senior tax consultant & Darren Britz, senior tax attorney at Tax Consulting SA. Many of the changes to the annual tax Filing Season this year is to lower the cost of compliance for taxpayers, […]
The number of people enquiring and actually going through with the process of financial emigration has “skyrocketed”, says Jonty Leon, legal manager at Financial Emigration.
Taxpayers earning less than R500 000 per annum from one employer in a single tax year are not required by SARS to file their tax returns. However, tax consultants advise that taxpayers should still file their returns if there is a chance they would get a tax refund.
SARS vs Salaries The tough economic playground in South Africa has seen struggling business owners scraping their last pennies together to keep their businesses afloat for a number of years now. Out of sheer desperation and due to stretched cash flow problems, some business owners have been faced with the decision of rather paying their […]
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In the News
- NEWS | 1 MARCH 2020 – DO YOU AS EMPLOYER HAVE YOUR DUCKS IN A ROW?August 15, 2019 - 1:34 pm
- NEWS | SOUTH AFRICAN EXPATS IN SHARK INFESTED WATERS – EXPAT TAX LAW CHANGE COMMENCING MARCH 2020August 6, 2019 - 7:34 pm
- NEWS | FLEXIBLE BENEFITS: HOW CAN EMPLOYERS ATTRACT AND RETAIN TOP TALENT DURING TOUGH TIMESJuly 15, 2019 - 10:46 am
- NEWS | PAYROLL AUDIT: SARS CHANGES ITS TACTICSJuly 15, 2019 - 10:04 am
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- How does a Total Reward Statement (TRS) enhance my company’s Employee Value Proposition (EVP)?June 27, 2016 - 12:03 pm
- What advantages does CTC with flexible benefits have for my staff and company?June 27, 2016 - 12:02 pm