Each year I get particularly annoyed about the falsehood that we receive a “tax relief” – as if Minister Gordhan managed to eke out some extra money for cash-strapped taxpayers. So let’s put it in perspective. Based on last year’s personal tax...
Our million-a-day tax bill
With no particular surprises for taxpayers in this year’s budget, I decided to drill through some of those tax numbers to see exactly how much tax we are now paying. If you add all our taxes together, individuals account for over R700bn in tax...
How the Tax Administration Act affects your tax return
Tax season is in full swing and as you race to get all your documents in order, you should take some time to reflect on the Tax Administration Act and how it affects you. SARS extended power The South African Revenue Service will now have extended...
Energy: new source of government revenue
Hemmed in from raising value-added tax (VAT), personal income and company taxes, Finance Minister Pravin Gordhan played his trump card in introducing carbon tax to the South African fiscus, Rhodes Business School tax professor Matthew Lester said...
Receiving a death benefit
A reader recently wrote to City Press to question how his late wife’s pension benefit had been distributed and whether it was in accordance with the law. It raises some interesting points about the provision of the law and the role of...
SARS to make money from penalties
Tax evaders could pay up to 200% of their taxable income in penalties warns Willem Oberholzer, tax partner at Grant Thornton Pretoria We are not expecting any huge surprises in terms of further taxation from this year’s Budget Speech; what we are...
Minister Gordhan has a fan page
Pointers for Pravin Not everyone is going to be a fan of Finance Minister Pravin Gordhan after he announces the budget on 27 February. This year will be a tight budget with less money to go around and undoubtedly higher taxes whether directly...
