“I didn’t know” is no longer enough
South Africa’s highest court has ruled that investors can be taxed on avoidance schemes they knew nothing about. The Constitutional Court’s judgment in Absa Bank Ltd and Another v C:SARS is significant in our tax landscape and every investor should consider the ruling. What was it about? Absa Bank invested R1.9 billion in a Macquarie-designed structure between […]
Is your trust tax compliant? What SARS knows about your trust and what it will cost you
By Suzanne Smit SARS has for some time been drawing the net tighter around trusts and it is now hauling it in. Following a Government Gazette notice published on 27 March 2026, SARS has introduced fully automated administrative penalties for trusts that have failed to submit their income tax returns. This is not a future […]
South African tax in 2026: What to expect
As we move into 2026, SARS Commissioner Edward Kieswetter’s term is coming to an end, with the current compliance-driven approach at SARS expected to continue. He has been a stalwart of compliance in a digital and very much global era, and we are excited to see who will take the reins from him. We do […]
National Wills Week: why the emphasis on wills?
It was National Wills Week for 2025 in South Africa from 15 to 19 September. The purpose of Wills Week is to educate South Africans about the importance of having a Will and to encourage them to draft a will. The importance of having a Will in South Africa: Your wishes as to where your […]
Taxation Laws Amendment Bill, 2025 (TLAB)
1. Foreign pensions: Section 10(1)(gC)(ii) currently exempts any lump sum, pension or annuity received by or accrued to a South African tax resident from a source outside of South Africa. It is proposed that this section is deleted from the Income Tax Act 58 of 1962 to ensure that foreign retirement benefits received by South […]
Are friendly offshore jurisdictions really that friendly?
In an environment where taxpayers are not confident in their “return on investment” domestically and where something like the National Health Insurance financing system instills more worry than comfort, those who can afford to, are looking to hedge their bets elsewhere. . Portugal, amongst others, has been a popular jurisdiction for South Africa’s as a […]
How do I externalise funds from South Africa – the new TCS process
Following the end of “emigration” as an exchange control concept in 2020, several changes have been effected by SARS and specifically its Tax Clearance Status (“TCS”) application process. The previous MP336 application which related to “emigration” was notorious for its red tape. It is trite that each taxpayer 18 years and older has a single […]
Paying it forward in Mandela month: creating a lasting family legacy
‘What counts in life is not the mere fact that we have lived. It is what difference we have made to the lives of others that will determine the significance of the life we lead.’ With these words by the late Nelson Mandela top of mind this month, how can your family ensure a […]
An alternative method of placing non-tax residency on record
Up to recently you could declare your non-tax residency in your tax return (submitted via eFiling) or by requesting a certificate of residence from the South African Revenue Service (“SARS”) by completing a specific form (RAV01). In both instances, the person must be registered for income tax purposes with SARS. In light of the above, […]
Jointly held bank and investments accounts
South African (“SA”) residents for tax and exchange control purposes, often hold bank accounts or investment accounts (“accounts”) jointly with family members (spouse and/or children) in other jurisdictions, for instance in the United Kingdom (“UK”). Where a single account is jointly owned by two persons in joint tenancy, they each own an undivided and […]