Exemption for foreign salary earners
South African tax resident individuals are liable to income tax on their worldwide income. In other words, where a South African tax resident individual were to earn a salary for employment which may from time-to-time be exercised outside of the borders of the Republic, that income earned is still included in that South African tax […]
Submit your 2017 Income Tax Return and avoid penalties
Annual Tax season is here, and Income Tax return submissions begin 1 July 2017. We’ve taken the liberty of answering frequently asked questions individuals may have. The South African Revenue Service (SARS) has allocated different submission deadlines dependant on the manner of the submission. What are the submission deadlines for Income Tax Returns? Please pay […]
Tax residence for individuals
According to the South African Revenue Service (SARS), South Africa has a residence-based tax system, which means residents are, subject to certain exclusions, taxed on their worldwide income, irrespective of where their income was earned. By contrast, non-residents are taxed on their income from a South African source. In an increasingly global society where individuals […]
Tax rates for 2017
With the fiscal year-end for individuals on 29 February 2017, it is useful at this stage to be reminded of the various tax rates applicable for the 2017 tax year. These are set out in the Rates and Monetary Amounts and Amendment of Revenue Laws Bill dated 24 February 2016. (to the extent that these […]
Documentation required for Income Tax Returns – Individuals
2015 Deadlines for Income Tax Returns for Individuals: 30 September 2015 – Manual Submission 27 November 2015 – eFiling Submission (non-provisional taxpayers) 29 January 2016 – eFiling Submission for Provisional taxpayers The following documents should, if applicable, be submitted to the accountant who completes your tax return and should be available if the South African […]