Articles tagged as "SARS"
What you need to know about two-pot withdrawals and tax
The highly anticipated two-pot retirement system came into effect on 1 September 2024. There has been significant activity across the retirement fund industr...
Annual tax limits for investors who cease to be South African tax residents during the tax year
Annual contribution limits for tax-free investments and retirements funds have always been clear for individuals who have a full 12-month assessment period t...
Tips to help you get on top of your tax return this year
The South African Revenue Service (SARS) is focused on improving its systems and processes to ensure taxpayers comply with their legal obligations and file...
Tap into tax benefits this February
The end of the tax year in February presents an opportunity to evaluate the tax efficiency of your financial plan. With many competing financial priorities i...
Offshore toolkit part 2: Unpacking South African tax obligations for non-resident living annuitants
South African legislation specifically prohibits the transfer of living annuities to other financial service providers abroad. Therefore, South Africans who...
Offshore toolkit part 1: Understanding your tax obligations on leaving South Africa
In part 1 of our Offshore toolkit series, Carla Rossouw, head of Tax, untangles the tax complexities you may encounter when you end your tax residency and...
Are you ready for the 2023 tax-filing season?
It is important for taxpayers to understand their filing obligations so that they can ensure compliance. Meagan Fraser covers the key dates to be aware of fo...
Unpacking the changes to the retirement fund lump sum tax tables
To account for the impact of inflation, this year’s National Budget introduced changes to the retirement fund lump sum tax tables for retirement fund cash lu...
Tax tips as we head into the 2023 tax season
The end of February sees the tax year draw to a close – an opportune time to ensure that your tax affairs, and tax details, are up to date, and to consider...
Are you ready for the 2022 modernised tax-filing season?
As SARS rolls out changes to simplify and shorten tax-filing season, tax specialist Liezl Alberts reviews what has changed this year and outlines who must fi...
How SARS has changed tax for annuitants
The South African Revenue Service recently changed the way tax is calculated for living annuitants. Carrie Norden discusses the rationale behind this change...
Understand the new rules around citizenship, exchange control and tax residency
The concept of “emigration”, as recognised by the Financial Surveillance Department of the South African Reserve Bank (SARB), has been phased out, with effec...
Do I need to file an income tax return for the 2021 tax year?
The South African Revenue Service (SARS) continues to focus on introducing online and digital services, simplifying the tax-filing process, and making it...
Understand your total tax liability if you have multiple sources of income
If you have multiple sources of income, you must ensure that the correct tax rate is being applied by your employer and/or annuity provider – or you could be...
Should I file a tax return for the 2020 tax year?
In response to COVID-19, the South African Revenue Service (SARS) has tried to simplify the tax filing process for individual taxpayers and remove the need t...
New tax laws for expats
The laws around tax for South Africans who live and work abroad have changed and it’s important to work out whether or not you are now expected to pay tax on...
Unravelling your residencies – exchange control, tax and citizenship
South Africans who live and work abroad are not currently subject to income tax on the income they earn outside of South Africa, provided they spend more tha...
Simplifying offshore investing
Over the years, South African exchange control regulations, which limit the amount that you can transfer or invest abroad, have been relaxed considerably. Th...
Don't get caught short this tax season
With the tax season deadlines brought forward by a month this year, it’s time to get your supporting documents ready and to do your return. Uncertainty actin...
Retiring or withdrawing? Think carefully before sending us the form
After a lifetime of work retirement is often a welcome change of pace, but many people rush into a decision to retire or withdraw from their retirement fund....
How to maximise tax benefits before the end of the tax year 2016
Every year at around this time – ahead of the end of the tax year in February – we remind investors to think about taking advantage of some of the incentives...
