From the Accounting Desk
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Beware of tax-related scams
Over the past five years, the SAFPS has seen a steady increase in the number of tax-related scams. Improved efficiency To improve efficiency when it comes to processing tax returns, and to encourage individuals and businesses to file their tax returns timeously, SARS launched its eFiling service in 2000. This
How to object to your income tax assessment
You and SARS are entitled to have a difference of opinion. This article, which was originally published in the May 2014 issue of Tax Breaks, has been updated to take later developments in SARS’ processes (and e-filing functionality) into account. YOU’VE GOT your tax return in on time, and your
Frequently Asked Questions: Solar panel tax incentive for individuals
HOW CAN PEOPLE CLAIM THE INCENTIVE? Individuals will be able to claim the rebate if they have: A VAT invoice that indicates the cost of the solar PV panels separately from other items, along with proof of payment. Certificate of Compliance evidencing that the solar PV panels were brought into
Important Notification: 2024 SARS Income TAX Season
As we approach the 2024 Personal Income Tax Season, which commences on July 7th, 2024, we are proactively preparing to streamline the process. Our goal is to ensure accurate calculations and to minimise the risk of triggering audits. Based on our observations from the previous tax year, audits were primarily
Travel claims, but no allowance?
For commission-earners and the self-employed, the rules are slightly different but travel costs can be claimed. The mistake that I make when writing articles about travel allowances is that I tend to forget that not all of us are ‘wage slaves’. Indeed, there are many taxpayers for whom the saying,
What to do if you owe SARS money
Owing money to the South African Revenue Service (SARS) can be stressful, but don’t panic. By understanding your options and taking prompt action, you can resolve the issue and minimise the impact. This guide will equip you with the knowledge you need to navigate a tax debt situation. The importance
Do You Want To Save On Monthly Accounting Fees?
