SARS medical scheme fees tax credits for individuals (medical and disability expenses)
In South Africa, individuals are required to assess their personal income tax obligations annually. As part of this income tax calculation, taxpayers need to determine their medical scheme fees tax credit, also known as medical tax rebates. In the South African tax system, personal expenses are typically not considered when calculating an individual’s income tax […]
The documents required for claiming business travel expenses from SARS
Written by Anrich Marais In many cases, you may or will be required to travel to and from clients to perform your work duties. This may be per private vehicle, a company-provided vehicle, an Uber, train, or an airplane. You may wonder what documents you need to keep to claim a tax deduction for yourself […]
The South African tax consequences of buying and selling Cryptocurrency
Cryptocurrency (“Crypto”) refers to a digital currency that can be used to buy goods and services. Crypto uses technology called blockchain, which is a decentralised technology that is spread across many computers that manages and records transactions. Part of the appeal of this technology is its security (more people check and verify transactions). Crypto transactions […]