The most common Tax deductions that are overlooked or missed by most individuals: Donations If you are donating to a registered PBO (Public Benefit Organisation) you can deduct 10% of your taxable income for these donations. If you exceed the 10% deduction for the year, the balance can be carried over to utilize in the [...]
A dividend is a payment made by a corporation to its shareholders, usually as a distribution of profits. When a corporation earns a profit or surplus, the corporation can re-invest the profit in the business (called retained earnings) and pay a proportion of the profit as a dividend to shareholders. The obligation rests with the [...]
Commission Earners Did you know that you are able to claim expenses incurred in the production of your income? Should your commission income exceed 50% of your total earnings, you will be allowed to deduct the following expenses: Home Office Expenses Allowed if: Employer doesn’t provide office space to work from & the room should [...]
On 20 February 2019, the South African Minister of Finance Tito Titus Mboweni delivered the South African budget speech for the 2019/2020 year. This is the first speech delivered by the Finance Minister Tito Titus Mboweni, and he is also the fourth finance minister of South Africa in three years, which all contributed to slow [...]
