While this is fundamentally a legal issue rather than a tax issue, it carries significant tax repercussions. Capital Allowance Compliance is especially critical when claiming deductions on property-related expenditure. When claiming capital allowances on…
Inheritance Tax (IHT) Under Schedule A1 of the Inheritance Tax Act 1984, shares in a company that owns UK residential property are not treated as excluded property. As a result, they remain within the scope of UK inheritance tax. The portion of the company’s…
Understanding Salary Tax South Africa is essential for both employers and employees. This guide outlines the total cost to company for an employee earning R50,000 per month. UIF Monthly Contribution: 1% employee deduction & 1% employer contribution, limited to a…
This post provides a detailed South African PAYE breakdown for an employee earning R100,000 per month, including UIF, SDL, and WCA contributions. South African PAYE Breakdown: Understanding UIF, SDL, and WCA UIF Monthly Contribution: 1% employee deduction & 1%…
Set out below is the total cost to the company for a South African employee based on a gross remuneration of R20,000.00: UIF Monthly Contribution: 1% employee deduction & 1% employer contribution, limited to a gross remuneration of R17,712.00.On a gross…
Business Structures in South Africa 1. Private Company (Pty) Ltd Key Features: Separate legal entity from its owners. Limited liability for shareholders. No minimum capital requirement. Maximum of 50 shareholders. Advantages: Most popular structure for small to…