by VDT Attorneys | Apr 20, 2026 | 2026 Budget Speech, Budget Speech, Tax bracket creep, Tax brackets, Tax filing
Relief from bracket creepAfter two years without adjustment, the lifting of bracket creep through inflationary adjustments to personal income tax brackets offers welcome relief for taxpayers. Bracket creep occurs when taxpayers move into higher tax brackets due to...
by VDT Attorneys | Apr 20, 2026 | Budget Speech, Can and should I deregister for VAT?, VAT, VAT registration threshold
The process begins with applying for the cancellation of registration to your local SARS branch or via eFiling, clearly stating that your turnover will remain below the new threshold. SARS will confirm a final tax period and issue a cancellation notice only once all...
by VDT Attorneys | Apr 22, 2024 | Budget, Budget Speech, Estate Planning, Reporting, SARS, Wealth management
Over the past decade, there has been much speculation surrounding the potential introduction of formal wealth taxes in South Africa. Drawing parallels from international models, such a tax would be a percentage-based tax calculated on the market value of an...
by VDT Attorneys | Apr 22, 2024 | Abatements, Budget, Budget Speech, Estate Planning, Reporting, SARS
In the ever-evolving landscape of offshore structuring, the interplay between exchange control regulations and global tax policies can have significant implications for South African individuals and businesses having offshore structures, as governments worldwide...
by VDT Attorneys | Apr 15, 2024 | Abatements, Budget, Budget Speech, Estate Planning, Reporting, SARS
In the aftermath of the 2024 National Budget speech which took place in February 2024, many taxpayers might have breathed a sigh of relief at the absence of tax hikes or significant tax amendments. The most noteworthy observation from the budget is the absence of...
