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SARS has made the following updates for the upcoming Personal Income Tax Filing Season: • PRO-RATA DEDUCTION IN RESPECT OF CONTRIBUTIONS TO RETIREMENT FUNDS Section 11F(2)(a) of the Income Tax Act No 58 of 1962 was amended as follows: Where any person’s year of assessment is less than 12 months, the amount stipulated in section […]
SARS PERSONAL INCOME TAX — 2024 FILING SEASON UPDATES Read More »
It’s a countdown: – The dates for the 2024 Filing Season are: Auto-assessment notices: 1 July 2024 to 14 July 2024. Individual taxpayers (non-provisional): 15 July 2024 to 21 October 2024. Provisional taxpayers: 15 July 2024 to 20 January 2025. To all our clients as we plan for a smooth filing season, please ensure all
Tax laws are constantly changing, and it’s crucial for businesses to stay informed. In this post, we will highlight recent changes in tax laws that may impact small businesses. We will provide insights into key areas such as deductions, credits, and compliance requirements. Readers will gain valuable knowledge to help them navigate these changes effectively.
Navigating Changes in Tax Laws: What You Need to Know Read More »
In this post, we will discuss the importance of tax deductions for small businesses and how they can help reduce taxable income. We will explore common deductions such as office supplies, equipment, and business travel expenses. Readers will learn how to identify deductible expenses and maximize their tax savings.
Understanding Tax Deductions for Small Businesses Read More »