Key Considerations Before Borrowing Money in South Africa
Securing a loan is a common approach for financing various personal and business needs in South Africa, from purchasing property to covering unexpected expenses. However, the decision to borrow money requires careful thought and planning. Here are essential factors to consider before you commit to a loan. Assess your financial situation: Evaluate your needs and repayment ability The first step …
The Business of Business Travel
Business travel means different things to SARS than to taxpayers. While it has been compulsory for recipients of travel allowances to substantiate their claims by means of a detailed logbook for some years, it has become ever more critical to understand exactly what SARS understands by the term ‘business travel’. The simple reason for making the distinction is that business …
Tax ‘Tune-Up’ for 2024
Tweaks to help make your filing easier this year…and save some tax! “Time sure flies when you’re having fun”, so the old saying goes. The other day I was listening to Footloose being played over our local movie complex’s PA system, and it dawned on me that this Kenny Loggins classic will be 40 years old this year! It also …
General Principles for Tax Deductions
When can you deduct an expense? Section 11(a) contains the general principles. One of the most-asked tax questions goes along the lines of “can I deduct xxx against my income?” There are two ways to answer this type of question. One is to create a never-ending list of every type of deduction one could contemplate, together with its exceptions, circumstances …