SMME’s Impacted by Recent Unrest and Looting? SARS has published a series of guides to assist SMMEs impacted by recent unrest and looting in parts of Gauteng and Kwazulu Natal. They acknowledged that some businesses would take longer to recover, and some may have challenges honouring their tax obligations due to missing documents, financial constraints, … Read more
SARS – All Rental Income to be Declared. SARS advises property owners to declare all short-term rental income on their tax returns and comply with VAT obligations if their short-term rental income exceeds R 1 Million within the tax year. Herewith the media release: Tshwane, 11 March 2021 – The South African Revenue Service (SARS) wishes … Read more
TERS Extension Covid-19 Lockdown. The State President anounced on Sunday evening 28 February 2021 during his televised address to the nation that Covid-19 TERS benefits will be extended to 15 March 2021 for certain sectors that have not been able to operate and employees that remain affected by regulatory restrictions.
SARS Focus On Wealthy Individuals and Offshore Holdings. There are currently 105 jurisdictions that have signed the CRS Multilateral Competent Authority Agreement (with more jurisdictions in the process) – an OECD initiative to exchange tax information on request, spontaneously or automatically between jurisdictions, as well as to assist in the collection of taxes. South Africa is a signatory to this agreement.
Herewith the RSA Budget 2021 Highlights in PDF form as provided by the National Treasury for your convenience. The main points are:
Herewith the SARS press release announcing an extension of the Filing Season deadline for provisional taxpayers to 15 February 2021:
Changes in the Tax Laws of South Africa 2021 On 20th January 2021, President Cyril Ramaphosa promulgated the following Acts that brought about changes in the tax laws of South Africa. There are ten significant modifications in the enacted legislation that carry severe repercussions for taxpayers who fail to comply, as mentioned in other sources. … Read more
SARS Media Release Adobe Flash. Support for Adobe Flash technology reached EOL (end of life ) on 14 January 2021 after more than four years of warning that Adobe will end support for this technology. HTML5 technology has mostly replaced Adobe Flash, and SARS has started to migrate its eFiling system to HTML5. Unfortunately, this … Read more
2020 – Year-End Message 2020 Year-End Message to all Onestop Accounting clients. This last year has been the most challenging year of the 21st century so far, with COVID-19 forcing a change in how we live, work, and interact with others like never before in our lifetimes on a global scale. Families have experienced the … Read more
Essential Services – Tax Practitioners are classified as an essential service, allowed to work from their offices subject to strict health protocols and taxpayers still need to comply with their SARS tax obligations during Covid-19 restrictions.