TAX BITES - Employment Tax Incentive?Introduced in 2014, the Employment Tax Incentive (ETI) encourages the employment of young and less experienced work seekers. With millions of young South Africans excluded from participating in the economy, they are more likely to suffer the consequences of unemployment....
TAX BITES - What is an IT88?Many South African taxpayers owe SARS administrative penalties for failure to submit their personal income tax returns. If a taxpayer fails to respond to notices or demands concerning outstanding administrative penalties, SARS may under Section 179(1) of the Tax...
Property Practitioners Act SummaryThe new Property Practitioners Act (Act no 22 of 2019) (“PPA”) and Regulations came into effect on 1 February 2022. This Act and Regulations replace the old Estate Agency Affairs Act (“EAAA”) and Regulations. The newly introduced Act introduces several changes within...
Tax Guide 2022/2023 Following this year’s Budget Speech by Finance Minister Enoch Godongwana, we have prepared a useful Tax Guide with the new tax tables for the 2022/2023 tax year. The Tax Guide can be consulted for more information on South Africa’s tax legislation.The Tax Guide...
Meet our partners Following our rebranding launch, we would like to introduce our new partners in Greenpen Accounting. We pride ourselves on being masters in the art of accounting, experienced in assisting clients with Auditing, Accounting, Tax and Advisory. Our approach is to...
We are thrilled to announce that Mervitz & Malan is now GreenpenWhile this may seem to be a significant change, our core beliefs haven’t changed. We remain committed to providing the same quality service that you have come to expect, however, it will now be...
National Budget Summary 2022On 23 February 2022, Finance Minister Enoch Godongwana presented his first Budget Speech. While there are tax increases in certain areas, the proposed budget mainly focuses on strengthening the financial foundation of businesses and individuals. In line with this, Godongwana claims that...
2021 Emergency Tax Relief for SMMEsBackgroundOn 25 July 2021, President Ramaphosa announced additional emergency tax measures for Small, Micro, and Medium Enterprises (SMMEs). This was in response to the continuing COVID-19 pandemic and recent unrest in the country that resulted in looting and the...
Income Tax Filing Season for Individuals – Effective 1 July 2021SARS have announced that the tax season for individuals in South Africa will officially open on 1 July 2021, and that it expects a significant number of taxpayers to be assessed automatically this year (“Auto-assessed”)....
Unemployment Insurance Fund Contribution Earnings Ceiling Increase – Effective 1 June 2021 With effect from 1 June 2021 all UIF deductions and contributions will be calculated based on the new earnings ceiling amount of R17,712 per month. The new maximum UIF deduction/contribution therefore amounts to R177.12. The...
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