Tag: Personal Income Tax (PIT)

In certain circumstances, SARS may hold a person personally liable for the tax debt of another taxpayer. Broadly, the at-risk third parties fall into...

The Financial Planning Institute of Southern Africa (FPI); a South African Qualifications Authority (SAQA) recognised professional body; has recently been approved by the South...

In 2016, the Income Tax Act (“the Act”) was amended to provide for a further tax burden where (by and large) individuals had advanced...

After much speculation over the past few weeks as to how the Minister of Finance would ‘plug the deficit’ in his Budget Speech on 22 February 2017, he has chosen to rely on personal income tax (including trusts) by increasing the top-end rate from 41% to 45%, a dividend withholding tax increase from 15% to 20% (with immediate effect) and increased Fuel and Road Accident Fund levies.

Minister Pravin Gordhan and his team at National Treasury should be praised for striking the correct fiscal balance in this year’s budget. Gordhan understands...

Personal Income Tax As many pundits predicted, the Minister of Finance today announced a new 45% tax bracket for individuals which will apply to taxable...

Finance Minister, Pravin Gordhan and the National Treasury, have their work cut out for them in the 2017/18 financial year. The economic stewards of...

High and middle-income earners are hearing a stream of bad news as the 2017/2018 Budget Speech by Finance Minister Pravin Gordhan approaches. Analysts are...

Much has been written about Tax Free Savings and Investment Accounts (TFSAs) and there was considerable excitement when these vehicles were first launched. While...

With less than a month to go before the 2017 Budget Speech, attention is shifting to possible tax amendments expected to be implemented in the new tax year.