FAQ: What is remuneration for tax purposes?

Remuneration is any amount of income which is paid/payable to any person whether in cash or otherwise (e.g. fringe benefit) and whether or not for services rendered. Remuneration will include: salary, fee, bonus, wage, gratuity, pension, leave encashment, emolument, voluntary award, commission, annuity, stipend, overtime, superannuation allowance, retirement allowance, lump sum benefit payment, director’s remuneration, […]

FAQ: Why must I register for Income Tax?

If your earnings for a given tax year are above the tax threshold, you are obliged by law to register for income tax. You must register for income tax, if you are an individual: See the tax rates and tax thresholds.

FAQ: Can the sale of a property be subject to both VAT and Transfer Duty?

No, the sale of property will be subject to either VAT or Transfer Duty. VAT takes preference over Transfer Duty. If the seller is a registered VAT vendor and the property forms part of the seller’s enterprise, then VAT is payable. If the seller is not a registered VAT vendor, or if the seller is […]

FAQ: What constitutes “property” for the purpose of Transfer Duty?

Property includes: Land and fixtures; Real rights in land, excluding rights under mortgage bonds or leases; Rights to minerals or rights to mine for minerals including leases or sub-leases to mine for minerals; A share or interest in a “residential property company”; A contingent right to residential property or a share or member’s interest in […]

FAQ: How do I download the SARS Smartphone App?

For Apple devices, the following steps must be followed to download the SARS Smartphone App from the App Store: Open the App store by tapping on the App Store icon on the springboard. Enter “SARS eFiling” into the Search box.Tap on the SARS eFiling App search result. Tap on FREE. Tap on INSTALL APP. Enter your […]

FAQ: What is Donations Tax?

Donations tax is payable on the total value of property disposed of, whether directly or indirectly, by a resident by means of a donation. “Donation” is defined as the gratuitous disposal of property, including any gratuitous waiver or renunciation of a right, that is, without expecting something in return.