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 […]
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How to sell a business as a going concern and charge VAT at the zero rate (0%)?
If you are looking to sell your business, you can do so in three ways, namely: Selling the assets; Selling the shares; and Selling your business as a going concern. If you merely sell the assets, that would attract VAT at the applicable rate (currently 15%). If you sell the shares in the company, […]