What Tax-Neutral Reorganisations (Sections 42–47) Really Mean
Restructuring a business, whether merging entities, shifting assets, separating divisions, onboarding investors, or strengthening risk protection, usually comes with significant tax consequences. Transfers of assets such as shares, property, intellectual property, or business operations would, under normal circumstances, trigger capital gains tax, income tax, VAT, and other tax charges. To support legitimate corporate reorganisations, South […]
VAT and Freelance Creatives: Understanding where the buck stops
When someone says influencer, freelance designer, writer, or content creator (collectively referred to as a creative freelancer), do you think VAT? Probably not—and you’re not alone. Many creative freelancers don’t consider taxes in their creative pursuits. It’s not a topic that readily comes to mind when you’re brainstorming ideas or putting the finishing touches on […]
Maximising Wealth, Minimising Tax
A comparative look at retirement annuities versus tax-free savings accounts. When it comes to personal finance, every individual has different needs, dreams and financial goals, as well as different pathways to achieving those objectives. One of the most common long-term ambitions shared by many South Africans is to retire comfortably—to live confidently, knowing that there […]
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 allows taxpayers to file their […]
When to register your business for VAT
There’s a compulsory threshold, but there may be advantages to voluntary registration. Value-added Tax (VAT) registration is a crucial obligation for businesses operating in South Africa. Knowing when to register for VAT is essential to comply with tax laws and avoid penalties. This article discusses the circumstances under which businesses must register for VAT in […]
Unlocking the benefits of expert tax planning
Unlocking the benefits of expert tax planning Tax planning is the strategic organisation of financial affairs to minimise tax liability by utilising deductions, exemptions, allowances, and rebates within the confines of the law. Despite the perceived complexity, tax planning offers streamlined financial management and significant savings. For business owners, it is an ongoing commitment with […]