TAX BLOG

Tax Tracey Says

Tax Tracey

Provisional Tax:

Now that we all recently went through the urgency of August’s provisional tax deadline, as per download link is a paper on this installment system to provide you with some insight on the workings and penalties involved if you get the estimates incorrect.

Tax season 2014:

A reminder for the tax season – the first deadline for non provisional taxpayers is end of November and for provisional taxpayers, end of January 2015.

Revised Trust tax return – effective 2014 tax year:

SARS has issued a new tax return for Trusts – in effect providing SARS with a lot more information as to who the beneficiaries of the trust are and what distributions the beneficiaries have received.

The old return was very opaque as to which beneficiaries received distributions – this has now changed and a lot more detail is required when filing the tax return.

Please read the statement as issued by SARS as per download link:

 

Trust - new tax returns

provisional tax summary

 


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