Exciting news!! GA Maclachlan Inc. App
We would like to announce the exciting news that GA Maclachlan Incorporated, has introduced its own app, which is now available on Apple devices (On App Store), or on any other device (On Google Play)! Please search under the name : GA Maclachlan Inc. The app is designed to give you up-to-date information on the […]
The Financial Costs and Benefits of Solar Power
The shift towards renewable energy in South Africa has seen a significant rise in the adoption of solar power. While the benefits of solar energy, such as sustainability and long-term cost savings, are well-known, it’s important to also consider the hidden costs and challenges associated with solar power systems. This balanced analysis aims to provide […]
Understanding Medical Aid Benefits in South Africa
Understanding and effectively managing your medical aid benefits is a crucial aspect of healthcare planning in South Africa. The diverse and complex healthcare system of the country offers a variety of medical aid plans, each with its own set of benefits and limitations. This comprehensive guide is designed to help South Africans navigate their medical […]
Estate Planning: Preparing for the Digital Afterlife
The emergence of digital ghosts on social media Social media platforms have become integral to our daily lives, but what happens to these digital profiles when a user passes away? Research by Carl J. Öhman, a doctoral candidate at the Oxford Internet Institute, sheds light on this evolving issue. Öhman’s study, titled “Are the Dead […]
Don’t Lose That Tax Loss!
Sustaining losses on certain activities, blissfully assuming that SARS will chip in at year-end? Make sure that this loss is not ‘lost’ forever. Many people have invested in second properties based on the knowledge that, for the first few years at least, they would have to fund the shortfall until such time as the rents […]
From Departure to Encashment
How the two-pot retirement system impacts expats The much-anticipated two-pot retirement system, introduced as a ‘knight in shining armour’ for South Africans, has received a new implementation date of March 2024. Expats are cautioned to pay attention to the effects that this will have on the encashment of their retirement savings. While many have addressed […]
General Principles for Tax Deductions
When can you deduct an expense? Section 11(a) contains the general principles One of the most-asked tax questions goes along the lines of “can I deduct xxx against my income?” There are two ways to answer this type of question. One is to create a never-ending list of every type of deduction one could contemplate, […]
Beware of Tax-Related Scams
Over the past five years, the SAFPS has seen a steady increase in the number of tax-related scams. Improved efficiency To improve efficiency when it comes to processing tax returns, and to encourage individuals and businesses to file their tax returns timeously, SARS launched its eFiling service in 2000. This allows taxpayers to file their […]
When to Register Your Business for VAT
There’s a compulsory threshold, but there may be advantages to voluntary registration. Value-added Tax (VAT) registration is a crucial obligation for businesses operating in South Africa. Knowing when to register for VAT is essential to comply with tax laws and avoid penalties. This article discusses the circumstances under which businesses must register for VAT in […]
Tax Implications for Marriages in Community of Property
The default marriage regime has some complicated tax consequences. When couples are caught up in wedding and honeymoon planning, visiting their attorney often takes a backseat. Many couples don’t realise that different marital laws affect how their assets are managed during marriage, divided if it ends, and how they’re taxed. The different legal frameworks determine […]