South Africans with different sources of income are often shocked when they discover that PAYE deductions did not cover their tax liability for the year.
Tag - income tax
Make sure you have taken advantage of all available tax deductions before the end of the month.
Are you a provisional taxpayer who recently awoke in the dead of night in a cold sweat with the realisation that you missed the 28 February 2018 provisional tax deadline?
South Africa seems to be keeping pace with the current global Bitcoin trend, but do we know how will cryptocurrency be taxed by SARS and what the exchange control standpoint of the South African Reserve Bank will be?
Before spending your Airbnb windfall, it is important to consider the tax implications of earning this income and ensure that adequate provision is made for any resultant tax liability.
Many people have left corporate employment to start a home-based business or join the gig economy, and this will be the first time that they are facing the challenge of filing their tax return under their new status as freelancers or sole traders.
The bulk of the R28 billion increased tax revenue will come from personal income tax and higher dividend tax