Tax Shop Benoni

13/10/2026

Tax Myth of the Week: “My estate is worth less than R3.5 million, so estate duty is nothing I need to worry about.”

Have you calculated the value of your entire estate?

Many South Africans think estate duty is only a concern for the wealthy. Others assume that if their home is paid off and their investments seem modest, their estate will automatically fall below the estate duty threshold.

In South Africa, estate duty is generally calculated on the dutiable value of a deceased estate after taking into account applicable deductions and the basic abatement.

The current basic abatement is R3.5 million.

Estate duty is charged at:

20% on the first R30 million of the dutiable amount; and
25% on the portion exceeding R30 million.

Certain deductions and exemptions may apply, including qualifying property accruing to a surviving spouse. The calculation is therefore not simply based on the total value of your assets.

Estate planning is not only about deciding who receives your assets.

It is about understanding the tax consequences, protecting the value you have built up and reducing the risk that your family will face avoidable financial complications when you are no longer there to guide them.

The best time to review your estate is while you can still make informed decisions — not when your family is already dealing with the consequences.

06/10/2026

Tax Myth of the Week: “The VAT threshold has increased to R2.3 million, so my business should deregister from VAT.”

From 1 April 2026, the compulsory VAT registration threshold increased from R1 million to R2.3 million in annual taxable turnover. The voluntary registration threshold also increased to R120,000.

That does not mean every business currently registered for VAT should simply deregister.

This is where good accounting and tax advice adds value.

Your accountant should not simply tell you what the legislation says. They should help you understand what the legislation means for your particular business and what the financial consequences of the decision could be.

Because the objective is not simply to pay less VAT.

The objective is to make the decision that leaves your business in the strongest overall financial and tax position.

06/10/2026

Can Business Entertainment Expenses Be Claimed Against Tax?

Find out here -> https://shorturl.at/RVHAE

29/09/2026

Tax Myth of the Week: "My retirement fund was transferred, so the tax side must have been sorted out."

This is a dangerous assumption.

I regularly see taxpayers who have moved a pension, provident or preservation fund from one fund to another and assume that because the money was successfully transferred, everything is automatically correct from a SARS perspective.

It isn't necessarily.

WHERE DOES THE PROBLEM START?

A transfer may have taken place years ago, but the supporting tax information may not have carried through correctly.

Your retirement-fund history is part of your long-term tax record.

A transfer that was completed correctly years ago can make a significant difference to how smoothly your future retirement tax directive and tax return are processed.

Don't wait until retirement to discover that your retirement-fund history needs to be reconstructed.

28/09/2026

Understanding Withholding Tax

Most business owners don't know what withtholding tax is and how it can affect their business. Withholding tax is a mechanism where tax is deducted from certain payments before the recipient receives the money, and the amount withheld is paid over to SARS.

Before paying a foreign supplier, consultant, lender or rights holder, check whether withholding tax applies. Paying the full amount without considering the withholding obligation can leave the business exposed to additional tax, interest and penalties.

23/09/2026

Tax Myth of the Week: If my business made a profit, there should be plenty of money in the bank.

This is not necessarily true.

This is one of the most important distinctions a business owner needs to understand:

Profit doen not equal Cash

Understanding the difference can prevent business owners from using money today that they will desperately need tomorrow.

23/09/2026

Some Companies are Going Back on Automation.

Should you?

https://shorturl.at/QanHo

20/09/2026

15/09/2026

Tax Myth of the Week: “If SARS sends me a verification notice, I must change my tax return to avoid problems.”

The truth: A SARS verification notice does not automatically mean that you have done something wrong—and changing figures simply to satisfy SARS can create an even bigger problem.

SARS increasingly uses third-party information from employers, financial institutions, medical schemes, retirement funds and other reporting entities to compare the information on your tax return with information received from other sources.

If a discrepancy is identified, the correct response is not to panic or amend your return without proper support.

If you have received a SARS verification notice or are unsure whether the information on your tax return is correct, professional assistance can help you respond accurately and within the required timeframe.

09/09/2026

EMP501 Interim submission period opens 21 September 2026 and closes 31 October 2026.

As an accountant and tax practitioner, my advice is simple: don't wait until the deadline to discover that your payroll doesn't balance.

The EMP501 is not just another form to submit, it is a reconciliation of:

- Your montly EMP201 declarations
- Actual payments made to SARS
- Payroll records and employee tax certificates (IRP5/IT3(a)s)

I always recommend that employers prepare early, reconcile carefully and submit accurately. A rushed EMP501 can create unnecessary administrative work and compliance problems.

If you are responsible for the payroll, now is the time to start preparing.

Need assistance with your EMP501 reconciliation or payroll compliance? Contact us - we can help you get your payroll records in order before the deadline.