JHB 010 007 3026 CPT 021 421 4444 DUR 031 007 0881

SARS – Rates of Tax for Individuals

May 27, 2018

Tax Brackets 2018

Each year, the South African Revenue Service (SARS) releases a set of tax tables to assist you in calculating your tax liability from your taxable income. What is my taxable income? Your taxable income is not necessarily a tax you are only liable to pay on a salary or wage. You may also be liable […]

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Budget 2018 – Highlights

February 21, 2018

Finance Minister Malusi Gigaba delivered the budget speech today that has been described as responsible and balanced under the current circumstances and likely to put South Africa in a healthier fiscal position. Ratings agencies are also looking at it favorably however the budget isn’t without its surprises, namely the hike in VAT for the first […]

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PAYE calculator

October 30, 2017

How to calculate PAYE

As an employer, you have a tax obligation to deduct employee’s tax in the form of PAYE (Pay as you Earn) from any remuneration paid to employees and settle this amount with SARS on a monthly basis. In this blog article, we will focus on the steps you will need to follow to calculate PAYE. […]

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PAYE Tables 2017

September 5, 2017

An Employee’s remuneration is subject to monthly deductions in the form of PAYE. PAYE Tables for the correct tax year should be referenced to calculate an employee’s monthly tax liability. Additional deductions, rebates and tax thresholds should all be considered when calculating the final PAYE amount. These are listed below for your reference and are […]

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What is VAT?

August 30, 2017

Important: As of 1st April 2018, VAT is now at 15% Most of us know that VAT stands for Value Added Tax and is currently levied at the standard rate of 14% in South Africa, but what exactly is this system and why is it in place? These are some of the questions we will […]

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Tax considerations on retirement

July 29, 2017

retirement and tax

In our previous blog article titled ‘Retirement funds and tax’, we looked at tax implications while saving for retirement and the recent changes in legislation that allow you to save up to 27.5% of your taxable income when making retirement contributions. Retirement structure is based on three legs, namely exempt, exempt, and taxed. While saving […]

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Retirement Funds and Tax

June 30, 2017

Retirement planning is a long term commitment and for most of us, it entails a consistent monthly payment until you reach retirement age. Whether you are self-employed and contribute directly, or your employer is submitting payments on your behalf, these payments become part of life – or perceived as another expense at month-end – and […]

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Working overseas? Proposed legislature changes may affect you

May 26, 2017

Thousands of South Africans leave the country each year to earn a better wage, enticed by the favorable remuneration packages being offered. Low tax rates or tax-free jurisdictions such as Dubai in the Middle East are strong magnets for South Africans where despite harsh conditions, long working hours and separation from their families, they are […]

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Dividend Tax hiked to 20%

April 30, 2017

Shareholders brace yourself, the dividend tax rate just jumped up from 15% to 20% as of February 22nd, 2017. The reason given by government was to reduce the difference between the combined statutory tax rate on dividends and the top marginal personal income tax rate. Does Dividend Tax apply to me? Dividend Tax is a […]

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