Galbraith Rushby

27/05/2026

May takeaway: Strategy beats reaction

Across May, one theme stands out:
✔️ SARS is tightening compliance
✔️ Tax efficiency still lies in structure
✔️ Planning beats last-minute decisions

Tax isn’t seasonal - it’s continuous.

21/05/2026

Is Your Trust Compliant?

From 4 May 2026, SARS has begun issuing automated penalties to trusts with outstanding income tax returns - and the consequences escalate quickly.

Under the latest Public Notice, once a final demand is issued, trustees have 21 business days to comply. Miss that window, and monthly penalties apply until all returns are submitted.

🔺 Penalties range from R250 to R16 000 per month
🔺 Capped at 35 months per outstanding return
🔺 Interest accrues daily on unpaid tax

A few key reminders:
• All trusts must file annually - even if dormant or inactive
• Trustees can be held personally liable for non-compliance
• A trust must be formally deregistered with SARS to end obligations

Jeneen's take: "From a structuring perspective, it’s also worth revisiting whether a trust remains the right vehicle for certain assets. For example, the R3 million primary residence CGT exclusion (confirmed in the recent Budget) generally does not apply to property held in a trust."

If your trust is not up to date, now is the time to address it - before penalties begin to compound.

18/05/2026

Tax Tip: Don’t Miss This

💡 Medical expenses could reduce your tax — if claimed correctly.

Keep your receipts.
Understand your limits.
Review before filing.

12/05/2026

Business Owners: Quick Check-In

Are you paying yourself efficiently?

💡 Salary vs dividends can change your tax outcome.
💡 Small adjustments = big impact.

07/05/2026

SARS’ Employer Annual Reconciliation period runs from 1 April to 31 May 2026, requiring employers to submit accurate EMP501 declarations with up-to-date payroll and tax information.

This is not only a tax deadline. It is a governance checkpoint.

Check:
▪ payroll records
▪ employee tax numbers
▪ PAYE, UIF and SDL accuracy
▪ internal sign-off processes
▪ whether your HR and finance records agree

Late, inaccurate or incomplete filings can create unnecessary exposure.

28/04/2026

RA's vs TFSA's: It’s Not Either/Or

Both have a role in a well-structured portfolio:

🔹 RA → immediate tax deduction
🔹 TFSA → long-term tax-free growth

The question isn’t which - it’s how much, and when.

24/04/2026

Where SARS Shows Little Sympathy

There are three areas where SARS consistently applies pressure:
• Late submissions
• Underestimated provisional tax
• Undeclared foreign income

These aren’t new - but enforcement is sharper.

Planning early avoids explaining later.

20/04/2026

IT3 Season: What You Need to Know

As financial institutions begin issuing IT3 certificates, now is the time to ensure:
• Investment income is correctly reflected
• Interest and dividends align with your records
• Foreign income is properly disclosed

This is where many discrepancies start and where SARS is paying close attention.

Get on top of it now.

14/04/2026

Small Changes. Smart Moves.

Budget changes aren’t always dramatic - but they create opportunities.
✔️ Increase your TFSA contribution
✔️ Review your RA contributions
✔️ Check if VAT registration applies to your business

Small tweaks now can make a big difference later.

09/04/2026

Tax Strategy Isn’t Seasonal

Filing deadlines come and go - but tax strategy should be continuous.

At Galbraith Rushby, we work with clients across:

• Tax advisory & compliance
• Provisional tax planning
• Trust and estate structuring
• Business and personal tax optimisation

The goal isn’t just compliance - it’s clarity and efficiency.

Get in touch.
021 447 3840 | [email protected]

https://galbraithrushby.co.za/services/

Our expert team has got you covered. Whether you’re running a business, managing a trust or planning for the future, Galbraith Rushby is here to guide you every step of the way.