Episode 1.1: Tax in South Africa - An Overview

In this potentially lengthy tax lecture series, I try to simplify the complexities of the South African Tax system.
Find me on social media:
Follow me on Twitter: / andre28071990
Other useful links:
SARS: www.sars.gov.za/

[@hlumelosamani7138]

We've been looking for this content, thanks brother and thanks to Nicolette for introducing us to you🙌🙌

[@AndreBothmaTax]

Thank you for the kind comment!

[@mohatomabaso5880]

I’m a 17 year old that is worried about the future,I’m going to be a part of an active citizen stat in an economy that is in bad shape and will possibly need about 50 -75 years to get into the shape it was in and I’m watching this video hoping to not make mistakes that will turn me into a Slave to money 💵

[@AndreBothmaTax]

Good luck Mohato :)

[@BB-mz8jc]

Hi Mohato, it sounds like your head is in the right place, I recommend watching this video (kzbin.info/www/bejne/nqupnWOredx0h7s) and the one being referenced in this video. I recommend watching this one first although it is a follow up to a previous video - the one referenced throughout this video - it will change the way you then "absorb" the first video. It may appear to be a very boring video but once the switch is flipped there is no turning back and a lot of things will become clear - that's how it went for me at least. The part about building your own infrastructure is what sealed the deal for me but it took many years of watching the first video over and over again during different periods of my life and especially during the challenging times coupled with the actual experiences of realising just how the vast majority of the population is relying on the infrastructures of other people and companies that are simply there to strip your hard earned money from your wallet and once that income/salary stops - because ultimately it is dependent on other people/your boss/your boss's business decisions etc - all those infrastructures simply disappear revealing the illusion of "security". Some people just don't see this and if people tell you "You still young, you have plenty time to find your way and figure things out - RUN - RUN IN THE OTHER DIRECTION! Start making things happen, try different things, people are too scared to "fail" when "failure" is actually a crucial component to success. Good luck in your future endeavors and may you find a growth mindset.

[@sanelisomdluli8436]

Thank you very much for making this video very short and informative, Andre

[@AndreBothmaTax]

Glad it was helpful!

[@aimeetheron5685]

Hi, this Tax 101 is extremely useful! Thank you so much! This has been a great refresher crash course for me. 👏👏👏 Please keep it up

[@AndreBothmaTax]

Thank you!

[@simplynkule]

Thank you so much. Short and simple!

[@AndreBothmaTax]

Pleasure!

[@diffy2391]

Nicolette Mashile's video introduced me to this channel. Wonderful information on tax

[@sebastianesilva398]

Thanks Andre, that was nice and clear. It would be helpful as well if you made a video on how tax works for people who are self-employed like freelancers.

[@AndreBothmaTax]

I'll get to that eventually - this is going to be a long series!

[@sihlembebeza285]

Thank you Andre, that was indeed informative. Please do a video focusing on taxation of passive income like property business. I have 2 properties and I want to register a company and have my rentals paid on my business account in quest to build my business portfolio and buy more properties in the near future under my company. I would like to understand the tax implications on that regard and how it works. The do’s and don’t and things to be mindful of. Pretty please

[@AndreBothmaTax]

I will be making videos again - thank you for your suggestion

[@nomvulam_m]

Also interested to know about this, looking forward to it 👍

[@nomthavellem7145]

Nice work Andre. Very clear, thank you!

[@AndreBothmaTax]

Thanks Nomtha

[@1ndz3980]

Thanks Andre, this has been informative

[@AndreBothmaTax]

Glad it was helpful!

[@ncumisamakheswa8050]

Hi Andre if you have a video explaining taxation of companies and company distributions can you please link me to it ...its chapter 8 of the student approach income tax (business activities)2020

[@stefansmuts8882]

Great video man! Thanks a lot!

[@emanuelbagirathi4750]

I am a college student working part time, Will I have to pay tax once my account reaches a certain number? And if so around how much?

[@elninovosloo4427]

Thanks for the video very helpful as a beginner

[@mthethwamhlambi2588]

Do you pay 20% of dividend tax irrespective how much dividends you receive?

[@AndreBothmaTax]

Yes. It's a flat 20% charge.

[@rohi888]

Do you also do partnership taxes?

[@AndreBothmaTax]

Partnership taxes can be done, but not many people use partnerships as a business model anymore

[@rohi888]

@@AndreBothmaTax Thanks for the quick response. Would be great if it can be done.... Thanks once again..😁👍

[@waqasnasri4208]

What is the amount that is taxable for companies pty ltd? Like what sales you have to have so you qualify to pay tax?

[@AndreBothmaTax]

If the company made a profit (regardless of amount) the tax is 28% (unless it's an SBC). If it made a loss, the tax is 0%.

[@Kuhlekonke02]

thank you

[@jarrydpatel9650]

Great video👏🏻

[@AndreBothmaTax]

Thank you!

[@percyondatube]

Hi Andre. Is there a way of settling a tax bill for a business at a single point or at a predetermined point within the financial year? In essence, let's say a business makes an annual revenue/income from trades of R1 000 000. Can an arrangement be made to settle a tax amount on this revenue or income at one point?

[@AndreBothmaTax]

Hi Percival, unfortunately not. I think the best way to handle this is to set aside an amount for tax. Once the tax return is submitted, then you'll have a portion of the tax available which you originally set aside. Does that help?

[@percyondatube]

@@AndreBothmaTaxYes, this does help. I was wondering about how to do it as the business is still a one-man show and it was best to manage this on an incremental basis as income is very low at the moment and spread far apart. Thanks for your response.

[@MogauF]

Hi Andre. In order to claim a tax deduction from donations, does the donation have to be a minimum of 10% of ones income or can it be lower?

[@AndreBothmaTax]

It can definitely be lower. To qualify for the deduction, it has to be made to an approved Section 18A PBO (Public Benefit Organisation). Make sure you receive a S18A donation certificate from them after making the donation.

[@MogauF]

@@AndreBothmaTax thank you

[@kowannam2942]

Perfect thank you ✨

[@AndreBothmaTax]

Pleasure :)

[@thaboshikwambane]

What happened to your Twitter handle?😭

[@AndreBothmaTax]

It's now @AndreBothmaTax

[@globalvillageidiot]

This assumes, of course, that an honest, lean government can deploy the tax properly to the benefit of the population they are supposed to serve...

[@carlalynnemacdonald9268]

Andre you seem to be a lovely man, thank you for this. But please blink twice if you need help!!

[@joshuaradloff1070]

Ah yes everybody's favourite topic

[@alexsanderrost8186]

Used for Personal expenses of government officials lol

[@hillszxk2086]

Tax is everywhere and I don't like it

[@AndreBothmaTax]

Death and taxes mate.