What you should know about the 2024 tax-filing season
This year’s return provides for claiming the residential solar energy tax rebate or a tax deduction in respect of the renewable energy tax incentive.
Deductions
No savings pot withdrawal in September if your balance is less than R2 000
The Actuarial Society of South Africa urges retirement fund members to check their benefit statement to see whether they will qualify for a withdrawal.
Requirements for claiming a tax deduction for charity donations amended
Sars publishes a list of the additional information that must be included on the receipt.
Failure to update tax law is bad news for employees trying to claim home office expenses
Many taxpayers will again hit a wall when trying to claim any home office expenses during the current tax filing season, despite having worked mainly from home since the start of the Covid-19 […]
Retirement funds and salaries are not a refuge from the taxman
Lump sums, monthly annuities and salaries are not off-limits to the long arm of the taxman. Taxpayers who have failed to pay their tax debts in full to the South African Revenue Service […]
Adjudicator hits back after High Court overturns withdrawal deduction determination
A recent order by the High Court in Johannesburg does not set a precedent for an employer or a creditor to make deductions from a retirement benefit that are prohibited by the Pension […]
FSCA clarifies deductions from unit trust portfolios
The FSCA has published a notice that clarifies the costs that can be deducted from a collective investment scheme portfolio, apart from those provided for in section 93(1) of the Collective Investment Schemes […]
Pension Benefits – Permissible deductions where fraud is alleged
A recent determination by the Financial Services Tribunal concerned the PFA’s order to release withdrawal benefits to employees. The employer challenged this decision as it originally withheld the benefits based on a disciplinary […]
Deductions from pension fund proceeds – Tribunal clarifies the “what and when”
When can an employer claim against an employee’s retirement fund? How is the deduction determined, and is it legal? Can a pay-out be delayed as a result of money owed to the employer? […]
