When is Capital Gains Tax not incurred?

Section 9HA of the Income Tax Act deals with deemed disposals by a deceased person. This section of the Act often causes some confusion, especially where there are heirs or legatees other than the surviving spouse. In terms of the provision, a deceased person is treated as having disposed of his or her assets at […]

TROOS measures during the national lockdown

Dear clients, To mitigate the impact of the COVID 19 outbreak we at T ROOS ACCOUNTANTS have introduced the following measures to ensure we provide the same quality of services to our clients before and during the lockdown period: Clients are welcome to visit our offices till close of business on Thursday the 26th of […]

Taxation of foreign employment income

South Africa has a residence-based tax system, which means residents are taxed on their worldwide income, regardless of where that income was earned.   South African tax residents living overseas and earning remuneration in respect of services rendered outside of South Africa are exempt from tax in South Africa, provided that the individual is outside of South Africa for a period or periods exceeding 183 full days (60 of which have to […]

COMPANY TAX IN SOUTH AFRICA

If you are self-employed or a business owner, you have to pay company tax in South Africa. How much business tax you pay and what deductions you can claim will depend on the size and type of your business. What is company tax? Company tax (also called, “corporate income tax”) is what keeps our economy functional. There exists […]