Blog: March 2018

Maart 2018

Vir sommiges voel dit asof die rusperiode tydens die feesseisoen nooit genoeg is nie. Daardie projek wat gedurende die jaar eenkant geskuif word vir wanneer daar “tyd” is, loer en wag steeds met beskuldigende oë onaangeraak, want selfs tydens die vakansie is daar net nie genoeg tyd nie!

The importance of having a good accounting system

If your business doesn’t have an effective accounting system in place, you run the risk of making serious errors in your finances. Furthermore, a good accounting system simply makes life easier and allows you to focus more on growing your business. 

Interest received by non-residents on SA bank accounts

Persons that are not tax resident in South Africa (“SA”) are only taxed in SA on income received by or which accrued to such non-resident from an SA source. This will include interest received on an SA bank account.[1] 

Additional medical expenses tax credit

Section 6B of the Income Tax Act[1] provides for an additional medical expenses tax credit (“AMTC”) which is calculated against qualifying “out of pocket” medical expenses. This tax credit reduces the amount of income tax a natural person (hereinafter referred to as the “taxpayer”) is liable to pay.