Income tax: Deduction of medical expenses

Posted on 25 of January, 2018 by in Tax

An individual’s ability to pay tax may be adversely affected by costs incurred as a result of illness or disability. For this reason, a certain degree of relief is provided by the Income Tax Act No.59 of 1962 (the Act). Timing of Deduction Qualifying medical contributions and expenses may only be claimed in the tax […]

Submit your 2017 Income Tax Return and avoid penalties

Posted on 28 of June, 2017 by in Tax

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 […]

Passive income and SARS

Posted on 13 of November, 2015 by in SARS

Have you ever investigated passive income opportunities to earn extra money? Did you consider the effect that earning additional income might have on your current income tax liability? If your income increases, whether from a passive income source or otherwise, SARS will soon come to the party to claim its share of your profits. Do […]