Workshop: National Treasury and SARS Workshop on Foreign PensionsAttendee: Jeneen Galbraith Proposed Removal of Foreign Pension Exemption The workshop centred on the proposed repeal of the foreign pension exemption in section 10(1)(gC)(ii) of the Income Tax Act. This exemption currently allows South African residents to receive certain foreign pensions tax-free. What Was Discussed Economic & behavioral impact: Loss of policy […]
Foreign Pension Update Read More »
Estate planning is one of the most important steps you can take to protect your family’s financial future. Without a proper plan in place, your loved ones could face unnecessary stress, disputes, or financial hardship after your death. Good estate planning goes beyond simply drafting a will. It requires specialised legal and financial guidance to
Estate Planning: Why it matters and how to do it right Read More »
Appointing the right executor to administer your estate is one of the most important decisions you will make in planning for the future. An executor acts in your place once you are gone, ensuring that debts are settled, assets are safeguarded and your estate is distributed according to your will and the law. Choosing wisely
The role of an executor: Protecting your estate and your heirs Read More »
Thinking about illness or incapacity is uncomfortable, but planning for it can spare your loved ones painful decisions later. While most people are familiar with a last will and testament, fewer understand the role of a living will – also called an advance directive. A last will and testament serves as a vital estate-planning instrument
Living Wills vs Last Wills: What you need to know Read More »
Dear Sir / Madam, Comment on Draft Taxation Laws Amendment Bill, 2025 – Removal of Foreign Retirement Fund Exemption (s10(1)(gC)(ii)) Introduction We thank SARS and National Treasury for the opportunity to comment on the proposed repeal of section 10(1)(gC)(ii) of the Income Tax Act No 58 of 1962 “ITA”, dealing with lump sums and annuities
Letter to SARS: Comment on Draft Taxation Laws Amendment Bill, 2025 Read More »
When a person passes away, their assets – whether movable (like money or cars) or immovable (such as property) – are distributed to the beneficiaries named in their valid will (testate succession). Sometimes, the will specifies that assets must be divided among heirs, such as siblings, and that the remainder should pass to their children.
Beneficiaries and their inheritance Read More »
On 16 August 2025, National Treasury and SARS released the Draft Taxation Laws Amendment Bill (TLAB), 2025, together with the accompanying Explanatory Memorandum. The proposals are open for public comment until 12 September 2025, after which a revised Bill will be tabled in Parliament. The draft bill contains a number of significant proposals aimed at tightening loopholes,
Draft Tax Bill 2025: Key changes impacting Individuals, Companies and Trusts Read More »
Medical expenses can be a significant part of a household’s budget, particularly for families with chronic illnesses or disabilities. The South African Income Tax Act provides relief in the form of medical scheme fees tax credits and additional tax deductions for qualifying out-of-pocket expenses. This article unpacks how these medical deductions work, what qualifies as
Understanding Medical and Disability Deductions Read More »
(and how to make yours bullet‑proof) Section 10(1)(q) of the Income Tax Act lets employers fund staff education (or their children’s/relatives) without triggering PAYE, while still claiming a normal business deduction. Get the paperwork wrong, though, and the “bursary” becomes a taxable fringe benefit. Similar deductions are claimable under Section 10(1)(qA) for disabled employees. Its
Why “bona fide” employee bursaries still beat a cash raise Read More »
The filing season for 1 March 2024 to 28 February 2025 is now open, and the COIDA submission deadline has been extended to 31 July 2025. Submissions made after this date will incur a 10% penalty for late submissions. So, with the COIDA deadline fast approaching, employers need to submit their Return of Earnings (ROE)
COIDA Return of Earnings deadline extended Read More »
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