“An income tax form is like a laundry list – either way you lose your shirt” (Comedian Fred Allen) This article is important to you if you are either a South African working abroad or an employer of one. If
Making money with Airbnb? Tax and other issues
Airbnb is an increasingly popular and lucrative way for residential property owners to earn extra income from short-term rentals of spare rooms, holiday houses, apartments and the like. Bear in mind these 3 factors – You need to provide for
BUYING AND SELLING PROPERTY: WHO PAYS THE TAXMAN?
Note: What follows is of necessity just a general summary of some complex provisions, there are various exemptions and exceptions (such as possible zero-rating of going concern sales), and many traps for the unwary. So take specific advice on your particular
SARS: (TAX) CRIME DOESN’T PAY!
“The income tax created more criminals than any other single act of government” (Barry M. Goldwater) SARS it seems retains a much higher enforcement capability than some recent media speculation has suggested. It has announced a 92% conviction rate in
THE NEW TRANSFER DUTY RATES: WILL YOU PAY LESS, OR MORE?
In a nutshell, the transfer duty tax breaks announced in Budget 2015 will reduce costs for most middle-income households but will increase costs of property transactions above about R2,65m (with maximum savings at about the R2m to R2,3m level). Remember
TAX PENALTIES: WHAT MUST SARS PROVE?
SARS has the power to impose severe penalties on any taxpayer failing to declare or pay taxes in accordance with law. For example, in a case recently before the Tax Court, a corporate taxpayer was audited by SARS and found