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Blog: June 2018

Junie 2018

Soos die halfpadmerk aanbreek, is dit gewoonlik die tyd wanneer mense reflekteer op hulle Nuwejaars-voornemens wat aan die begin van die jaar gemaak is, om te bepaal of enige aanpassings nodig is. Netso, het HVM teruggekyk en in hierdie kwartaal het daar heelwat verander.

Tax deductions against salary earnings

Our clients who earn only a salary will know that very few tax deductions are available against salary income for income tax purposes and whereby they may reduce the taxable income derived ultimately from such remunerations.

What should you consider when investing in a business

You have worked hard for many years, and have finally saved enough funds and mustered the courage to take the big leap that you have been dreaming about for such a long time… you are going to invest in your own business.

You have found the perfect business and is excited about your new journey, when you suddenly realise, however, that you have never been in this situation, and suddenly have no idea what to do next.

Building of a capital fund for PBOs

Entities that conduct their activities in a non-profit manner may apply in certain circumstances to the Commissioner for the South African Revenue Service (“the Commissioner”) to be approved as a public benefit organisation (“PBO”) in terms of the Income Tax Act.[1] One of the requirements to qualify as a PBO is that the entity must utilize its funding solely or mainly for purposes of conducting its philanthropic activities (referred to as “public benef

2018 Tax Season: SARS shortens submission period

The annual tax filing season is upon us and acting SARS Commissioner, Mark Kingon, announced that the season will open on 1 July 2018 for eFilers. SARS branches will assist taxpayers from 2 July 2018. The filing season will then end on 31 October.