tax advice

A school reunion, a business sale and an unexpected tax lesson

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After years spent building a business, the last thing you want is to discover the tax consequences when the sale agreement is already on the table. Selling shares, selling the underlying assets or taking the proceeds as a distribution may lead to very different tax outcomes. And for qualifying small business owners, there are valuable CGT concessions that are easily overlooked.

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Employment of Foreign Nationals: Increased compliance risk for South African employers

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South African employers should take note of the renewed focus by Government on the employment of foreign nationals, particularly in circumstances where employees may not have valid documentation authorising them to work in South Africa. Although certain proposed penalties and quota rules are not yet final law, employers should not wait for the legislation to be enacted before reviewing their compliance position. Existing immigration legislation already places clear obligations on employers who employ foreign nationals.

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Prescription Rules: When does tax debt expire?

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Debt is one of the most unfortunate aspects of life that everyone ultimately deals with. Where normal consumer debt generally prescribes after three years, tax is somewhat different. For one, should you be sequestrated, the South African Revenue Service (“SARS”) is a preferential creditor and will be paid before many other debts are settled. But what is the legal timeline SARS has to pursue you for the recovery of outstanding tax debt?

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Foreign Pension Update

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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. Our sense is that Treasury may move toward a compromise model similar to section 10(1)(0), which introduced a R1.25m tax-free exemption threshold and taxation only above that level. This would protect retirees with modest pensions but still capture tax on larger foreign pensions.

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Estate Planning: Why it matters and how to do it right

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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 make sure your assets are identified, protected, and distributed according to your wishes – and in a way that is both tax-efficient and legally sound.

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Draft Tax Bill 2025: Key changes impacting Individuals, Companies and Trusts

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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,

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Understanding Medical and Disability Deductions

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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

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Practical applications of the new VAT increase from 15% to 15.5%

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The recent increase in VAT by 0.5% has significant implications for businesses and individuals, particularly for ongoing transactions that have not yet been completed. Understanding the “time of supply” is crucial, as it determines when VAT liability is triggered. The time of supply is the earlier of the invoice or the receipt of the payment. 

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An overview of the 2025/26 Budget: Navigating Fiscal Challenges Amidst Political Dynamics

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South Africa’s 2025/26 budget, presented by Finance Minister Enoch Godongwana on March 12, 2025, comes at a pivotal time for the nation. The budget’s unveiling was notably delayed due to internal disagreements within the coalition government, particularly concerning a proposed increase in the Value-Added Tax (VAT).  It was a bit like watching a movie and

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Tax planning for February 2025: optimising expenditure

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As the end of the financial year approaches for companies with a February 2025 year-end, it is crucial to plan strategically to minimise taxable profits. One effective way to achieve this is by reviewing and incurring qualifying expenses before the year closes. Proper tax planning can help reduce the company’s tax liability and ensure compliance

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