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Category Archives: News

Latest news and opinions on financial affairs

THE TAXATION OF CRYPTOCURRENCIES

May 10, 2021

You can’t deny that there is a lot of hype and interest about Cryptocurrencies at the moment. One of the loudest questions being asked right now is, are Cryptocurrencies taxed? Many South Africans have made millions with Cryptocurrencies recently and everyone is asking, is there a SARS Cryptocurrency tax? The answer is, yes, there is […]

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2021 BUDGET SPEECH HIGHLIGHTS

March 2, 2021

On 24 February, Finance Minister, Mr. Tito Mboweni, delivered the National Budget Speech outlining the government’s priorities for 2021. Due to the COVID-19 pandemic, the government was forced to re-evaluate the economic outlook of the economy, and things have taken a challenging turn. Budget speech highlights include the expectation that the total consolidated spending would […]

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INS & OUTS OF VAT FOR THE SOUTH AFRICAN BUSINESS OWNER

February 8, 2021

The importance of businesses, both large and small, for our economy, goes without saying, especially their role as taxpayers. All businesses have tax obligations to meet, including paying Value Added Tax (VAT) to SARS, but don’t fear, it’s not all bad news, as there are several benefits to acquiring a VAT number. This post looks […]

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HOW ARE YOU AFFECTED BY CAPITAL GAINS TAX?

November 26, 2020

No one likes a surprise from the Taxman, because we know it is hardly ever good. The year we’ve made a profit should be one for celebrating, not for sharing with SARS. Understanding Capital Gains Tax (CGT) and how it works is key to saving pennies when you are looking to sell an asset or […]

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Budget 2019 – the changes affecting you

February 20, 2019

Finance Minister Tito Mboweni delivered his maiden budget this afternoon which offers little in the way of relief from the tax hikes of previous years. It also involves a surprise carbon levy pushing fuel prices even higher.   Read on to learn about the changes affecting you: Income Tax Changes: For the first time since […]

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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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SA Accounting Firm

April 28, 2016

Dirmeik Consulting has recently extended its services across South Africa. Our unique approach to the practice of accounting sets us apart from our competition. This approach is based on trust and wisdom; on quality service and operational clarity and on the drive to support our growing base of clients across South Africa. We currently assist […]

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Budget 2016 highlights – South Africa

February 26, 2016

Budget 2016 - South Africa

South African finance minister Pravin Gordhan delivered the 2016 Budget on Wednesday afternoon. It was never pegged as being an easy task given the tough economic times the country is experiencing and that any wrong move could result in South Africa receiving a “junk status” rating. He did however manage to avoid an austerity budget, […]

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Tax Compliance

September 30, 2015

Tax compliance

In the past, complying to tax laws has often been at the will of the tax advisor or the taxpayer. It has been a moral decision as to whether income is honestly declared or not. The problem with this is that so much is rooted in the attitude towards compliance. Often high tax rates are […]

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