TAXPAYERS: KNOW YOUR RIGHTS!
Since the introduction of the Tax Administration Act in 2011, which aimed to consolidate most of the administrative matters in tax acts, taxpayers have become ever more aware of their rights in dealing with the South African Revenue Service (SARS). There has also been a significant increase in the number of cases in the Tax Court (as […]
FAIR BURSARIES: THE KEY TO TAX EXEMPTION
Over the past several years, many employers and employees have made use of the beneficial tax treatment of bursary and scholarship schemes, as provided for in the Income Tax Act. The Act contains provisions that provide an exemption in respect of bona fide bursaries or scholarships granted by employers to employees or relatives of qualifying […]
Proposed Tax Changes Affecting Trusts
On 8th July 2016, the National Treasury and the South African Revenue Service (SARS) published for public comment the final two bills to give effect to the tax proposals announced by the Minister in the 2016 Budget. The Standing Committee of Finance will convene public hearings in the second half of August 2016 on these […]