Newtons

Category: Tax

  • Provisional TAX

    Provisional TAX What is provisional tax? Provisional tax is not a separate tax.  It is an estimate of tax for the first six months of the tax year payable in August and then an estimate of the tax payable for the year payable in February. In essence therefore paid after six months of the year…

  • The facts on Provisional Tax

    The facts on Provisional Tax Understanding the ins and outs of taxes can seem daunting as an everyday taxpayer. It should not be a painstaking process to understand why your hard-earned money is allocated to certain taxes, and that is why we have taken it upon ourselves to explain some of the terminology and criteria.…

  • Tax compliance lives beyond death

    Tax compliance lives beyond death A deceased estate takes on a (tax) life of its own while being wound up I started my first job back in September 1987 at the tender age of 18, and approximately nine months later I received my very first income tax return from the Receiver of Revenue (as SARS…

  • Retirement and your ‘second wind’

    With improved healthcare and the trend towards healthier lifestyles, many people are living to a ripe old age.  Make sure that your money lasts as long as you do. Are you retiring in the near future and concerned that you may not have enough capital to retire? We often read that the majority of South…

  • Travel claims, but no allowance?

    For commission-earners and the self-employed, the rules are slightly different—but travel costs can be claimed. The common mistake that I make when writing articles about travel allowances is that I tend to forget that not all of us are ‘wage slaves’.  Indeed, there are many taxpayers for whom the saying, “If a man will not…

  • Tax implications of cross-border remote working

    When remote workers are located outside of SA, the tax issues get complicated Remote working from foreign jurisdictions has become increasingly popular during the COVID-19 pandemic.  Despite the lockdown rules being relaxed in most jurisdictions, it appears that employers should not expect the workplace to return to the way it was before the pandemic. For…

  • Section 24C allowance: Future expenditure

    The nature of a taxpayer’s business may be such that the taxpayer receives amounts under a contract that will be used to finance expenditure to be incurred in future in performing under that contract. Generally, this would result in an inclusion of the amount in that taxpayer’s income in that year of assessment. In contrast,…

  • Submit your return on time, or face penalties

    Non-residents and earners of foreign income are also receiving extra attention this year The tax season for the 2022 tax year has just started, and it will be one of the shortest to date.  The period to submit tax returns opened on 1 July 2022 and runs to 24 October 2022 for individual taxpayers who…

  • Home office expenditure

    Taxpayers who are salaried employees have limited deductions available to them. However, home office expenditure can be claimed as an income tax deduction, but the onus is on the taxpayer to prove that the expenses are in fact deductible. For employment to constitute a “trade” and to qualify to deduct home office expenditure, the taxpayer…

  • Section 42: Asset-for-share transactions

    It is often the case that South African tax resident shareholders wish to reorganise their South African group of companies, for a multitude of commercial reasons, without the ultimate shareholders changing. One of these could potentially be to create a single holding company structure. Various group relief provisions are contained in the Income Tax Act…

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IC Marais

Professional experience:

IC Marais is a certified CA (SA) with public sector and private sector technical knowledge based on 5 years’ Public Sector accounting, auditing and financial management experience and 5 years audit, tax and accounting experience. Detailed knowledge of private and public sector accounting and auditing standards (GRAP, IPSAS, IFRS, IAS, ISA) and public sector financial legislation (MFMA, etc.)

He enjoys the outdoors, hunting and fishing.

ic@newtons-sa.co.za

SCHALK GOUWS

Professional experience:

In 1995, Schalk started as a trainee at Warner and Newton (which became Moores Rowland in 1997 and then Mazars Moores Rowland in 2007) in Bloemfontein. In 1998, Schalk was appointed as manager at Moores Rowland, where he became a partner in 2003. Schalk received his Postgraduate Certificate in Advanced Taxation in 2006 and in 2009 he received his Certificate in the Administration of Estates.

schalk@newtons-sa.co.za

CEDRIC PETERSON

Professional experience:

Cedric started as a trainee at Warner and Newton (which became Moores Rowland in 1997 and Mazars Moores Rowland in 2007), Bloemfontein, in 1986. After completion of his articles, he joined the Special Investigations Division of the Department of Finance (SA Revenue Services) as a senior inspector from 1990 to 1991.

cedric@newtons-sa.co.za

LUCHA GREYLING

Professional experience:

Lucha started her career as a tax inspector at the Inland Revenue Department of New Zealand. After this she worked in commerce in Canada, Mexico and the United States.

On her return to South Africa, she completed her CA training contract with us and has been with Newtons ever since. She became a Partner in 2012.

Apart from her CA(SA) qualification she also holds a postgraduate certificate in Advanced Taxation (2005) and has the overall responsibility for training as our Training Officer.

lucha@newtons-sa.co.za