Tax Talk Thursdays: Rental Income

Tax Talk Thursdays: Rental Income

Notice from SARS: The South African Revenue services (SARS) has issued a statement advising all South African property owners that the rental income they receive must be declared in their income tax returns. The statement essentially means that any person who has...
FRIDAY FACTS: TYPES OF ACCOUNTING REPORTS

FRIDAY FACTS: TYPES OF ACCOUNTING REPORTS

types of companies:   Private Company –Owner-Managed This company is also known as (Pty) Ltd and most companies in South Africa are registered as these type of companies Shareholders are also Directors of the business. Shareholders are involved in the running of...
Tax Talk Thursdays: Employees’ Tax (PAYE)

Tax Talk Thursdays: Employees’ Tax (PAYE)

What is a PAYE: Employees’ tax is the tax that is required to be deducted by an employer from an employee’s remuneration that has been paid or is payable. This process is known as PAYE (Pay-As-You-Earn).   How is PAYE calculated: Periodic tax basis: This method...
Estate Planning: Intro into Wills

Estate Planning: Intro into Wills

What is a Will: A Will is a legal document that sets out your wishes in terms of the distribution of your assets and also other wishes that don’t necessarily have financial value (such as who should take care of your children if there aren’t any other parent). Should...