When it comes to tax deductions, not all expenses are treated equally — and legal fees are no exception. In South Africa, legal fees of a capital nature are specifically disallowed as a deduction against your taxable income. But why?…
In South Africa, many taxpayers are surprised to learn that life insurance premiums are generally not allowed as a tax-deductible expense when calculating taxable income. While this may seem unfair at first glance, the reasons are rooted in the structure…
Navigating tax regulations can be challenging, especially when it comes to specific areas like input tax on motor vehicles. Here, we break down the key points from the SARS guidelines to help you understand how input tax applies to motor…
A taxpayer that does not agree with an estimated assessment issued to them must edit the tax return within 40 working days. Ordinarily, SARS issued a revised assessment. However, the SARS system has been sending out erroneous rejections, e.g. stating…
From 1 – 14 July 2022, SARS issued approximately 2.5 million estimated assessments to individual taxpayers, as part of their enhanced ‘auto-assessment’ process. As a result, several taxpayers were entitled to receive income tax refunds. Prior to the commencement of…