Tag - Tax


Second Period Provisional Tax

By Selina Thompson (Payroll & Personal Tax Manager) personaltax@finservegroup.co.za Second Period Provisional Tax We are approaching the Second Period Provisional tax deadline for the 2019 financial year on Thursday, 28th February 2019 and all applicable entities need to submit by this date to avoid any unwanted penalties being issued by SARS. An individual is liable for Provisional Tax, …


Moving Motor Vehicles To The Family Trust

By Jameel Dalvi (Group Director) The purpose of the Family Trust is to own all paid-up, risk-free assets. These include furniture, motor vehicles and certain investments (non-property). The Family Trust also represents the centre-point of a structured Last Will & Testament and Life Insurances. Unfortunately, unlike furniture which is quick and easy to transfer to …


Panama Papers

By Michael Dryden (Group Director) The recent leak of confidential information from a prominent legal firm in Panama has created quite a stir in the media and the tax fraternity. There have been many headlines that give the impression that anyone who had utilized structures in these ‘tax havens’ are in big trouble with the …


Tax Directives Commission Earners

By Clinton Forlee (Group Director) Due to the erratic income of many commissions earners, it is important to obtain Tax Directives annually as a means to smooth out PAYE deductions, and thereby enhancing cashflow. Tax Directives are obtained from SARS, and must be renewed annually after the new Tax Rates are announced in the Budget …


New Tax Calculator

By Jameel Dalvi (Group Director) We love to add value to our clients, and therefore every year we release an updated Tax Calculator after the new Tax Rates are announced in the Budget Speech. If you were wondering how your Income Tax would change based on the new Tax Rates, please refer to our Tax …


Conduit Principle (Article In REIM)

By Anthea Dryden (Group Director) We have always been at the forefront of Trust knowledge and advisory, and one of our primary objectives is to share our knowledge as far and wide as possible. Therefore it was with great appreciation when the editor of Real Estate Investor Magazine requested that we contribute to their publication. …


Retirement Annuity Tax Deductibility

By Jameel Dalvi (Group Director) Contributing to a Retirement Annuity (‘RA’) has always been a popular method of providing for retirement, while enjoying a tax deduction on your Personal Taxes. Up until 29 February 2016, the tax deduction for RA Contributions is limited to 15% of Taxable Income – however, with effect from 01 March 2016, the RA …


Trust Conduit Principle Under Threat?

By Michael Dryden (Group Director) Over the last few months, we have received several queries regarding the possibility of the tax authorities making changes to the ‘Conduit-Principle’. The Conduit-Principle is a method typically used to reduce tax payable in a Trust by shifting the tax burden to the beneficiaries of the Trust – understanding Tax …


R1million In Personal Tax Refunds

By Michael Dryden (Group Director) For the tax ending February 2014 (last year), FinServe proudly facilitated over R1million in Personal Tax refunds for our clients. For this reason (and many others), many of our clients have already submitted their information for this year, as a potential refund should not be delayed. We are eager to …


Tax Season: Maximize Your Deductions

By Jameel Dalvi (Group Director) The start of the Tax Season Filing for 2015 is fast approaching on 1 July 2015. 2015 Tax Return Due Dates Non-provisional taxpayers who use eFiling – 27 November 2015 Provisional taxpayers who use eFiling – 29 January 2016 We understand that submitting a tax return is a source of …

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