Covid-19 SMME SA funding assistance
We are here to help you apply for disaster relief funding. Our firm is ready to assist with all the following applications. Give us a call today so we can give you a quote. There are a range of support measures available that our firm can help you get access to: 1. Funding through the […]
Requests for suspension of payment from SARS
Since its introduction, the “pay now, argue later” rule relating to disputed amounts of tax has been and remains to be the subject of much controversy, and rightfully so. The basic premise is that even though you disagree with an amount of tax, once you have been assessed by SARS, the amount becomes due and […]
Fixed and reimbursive travel allowances
When determining the best remuneration package for travelling employees, South African employers and employees are continuously considering the benefits between a travel allowance, a reimbursive travel allowance or both. For this purpose, the employees’ tax (“PAYE’’) and income tax consequences of these two allowances are set out in more detail below. A travel allowance is […]
Bad debts and VAT
While there is currently a focus on the income tax considerations of bad and doubtful debts (given that National Treasury has proposed changes to section 11(j) of the Income Tax Act [1] to allow for an allowance of 25% of impairments in respect of doubtful debts), the Value Added Tax (VAT) aspect of bad debts […]
Deductibility of interest for non-trading individuals
SARS Practice Note 31.2 (PN31.2) provides for a person to be able to deduct interest paid, even where that person is not a moneylender or doesn’t carry on any other trade, where that interest expense is incurred in the production of other interest earned to the extent that it does not exceed the interest income. […]