Galbraith Rushby

29/10/2026

A Halloween reminder for employers…

There's something scarier than ghosts lurking tomorrow:
AN OVERDUE EMP501.

The Employer Interim Reconciliation deadline is 31 October 2026.

Before you clock off for the weekend:

✓ Reconcile payroll
✓ Check PAYE
✓ Check employee information
✓ Check IRP5/IT3(a) data
✓ Submit your EMP501

No tricks. Just good tax housekeeping.

Happy Halloween from Team GR. 👻

27/10/2026

WHEN DOES OLD TAX DEBT ACTUALLY BECOME OLD ENOUGH?

Prescription is one of those tax concepts that sounds straightforward - until it isn't.

A newly published High Court judgment involving SARS and Africa Cash and Carry deals with whether tax assessments raised more than three years later had prescribed and whether another party could potentially be held jointly and severally liable if the debt remained enforceable.

It's a useful reminder that statements such as:
"SARS only has three years", can be dangerously simplistic.

Different rules can apply depending on the circumstances, including how and when an assessment was raised and whether SARS alleges circumstances that allow it to go beyond the ordinary limitation period.

For taxpayers and businesses dealing with historic assessments, the lesson is simple:
- Don't assume age alone makes a SARS problem disappear.
- And before acknowledging, paying or responding to an old tax liability, understand exactly what you're dealing with and whether prescription may be relevant.

21/10/2026

If you're a non-provisional individual taxpayer and haven't submitted your 2026 return yet, 23 October is your deadline. South African Revenue Service

But here's our final reminder:

Don't confuse "submitted" with "correct".

Before pressing the button tonight, take one last look at:
✓ Additional income
✓ Rental income
✓ Investment income
✓ Capital gains
✓ Medical expenses
✓ Retirement contributions
✓ Foreign income or assets where relevant
✓ Side-business or freelance income
✓ Pre-populated information

Rushing an incorrect return through simply to meet the deadline can create a much bigger administrative headache later.

13/10/2026

VAT IS GOING DIGITAL. IS YOUR BUSINESS READY?

SARS's VAT Modernisation programme is entering an important stage, with stakeholder comments on its consultation paper closing on 16 October.

But the bigger story isn't the consultation deadline.
It's the direction VAT administration is heading.

SARS continues to invest in digital systems, better data and more automated processes designed to make compliance easier - and non-compliance easier to detect.

For businesses, this means good VAT administration is increasingly going to depend on the quality of the information sitting behind the return.

Think:
✓ Accurate tax invoices
✓ Clean accounting data
✓ Correct VAT classifications
✓ Proper supporting documentation
✓ Regular reconciliations
✓ Systems that talk to one another

Digital tax administration may make submitting returns easier.
It doesn't make inaccurate records less risky.

07/10/2026

The deadline for non-provisional individual taxpayers is 23 October 2026.
Provisional taxpayers have until 22 January 2027.

Before you hit SUBMIT, check:
✓ Is all your income reflected?
✓ Are investment and rental amounts correct?
✓ Have you declared relevant foreign income?
✓ Are medical and retirement contributions correct?
✓ Have you considered any capital gains?
✓ Does the pre-populated information actually match your records?

Because:
Pre-populated doesn't mean automatically correct.
And submitted doesn't necessarily mean compliant.

Need help? Speak to your Galbraith Rushby consultant before the deadline rush.

28/09/2026

Thinking about selling your business? The tax conversation should start before the sale does.

When GR director Jeneen Galbraith attended her 40-year school reunion, she probably wasn't expecting to find herself discussing Capital Gains Tax.

But when an old school friend mentioned she was selling a business in another African country, one question quickly came up:

“What tax am I going to pay?”

As Jeneen explains in her latest article, the answer depends on much more than the selling price.

Selling shares, selling the underlying business assets or receiving the proceeds as a dividend can all have very different tax consequences. And qualifying small business owners may also have access to valuable CGT relief - including, in certain circumstances, a R2.7 million lifetime small-business capital gains exclusion.

The lesson?

Don't spend years building a business and only ask about the tax when you're ready to sign the sale agreement.

Good tax planning starts well before the transaction.

Read Jeneen's full article here: https://galbraithrushby.co.za/a-school-reunion-a-business-sale-and-an-unexpected-tax-lesson/

After years spent building a business, the last thing you want is to discover the tax consequences when the sale agreement is already on the table. Selling shares, selling the underlying assets or taking the proceeds as a distribution may lead to very different tax outcomes. And for qualifying small...

23/09/2026

A will is important. But it's only part of the plan.

Your will sets out what you'd like to happen to your assets when you're gone - but good estate planning asks some equally important questions.

Will your estate have enough cash to meet its obligations? Are your beneficiaries still correct? What happens to your business? Who will manage your affairs? And will the people you've provided for actually receive what you intended them to?

Life changes. Families change. Assets change. Businesses grow.

Your estate plan should change with them.

Read the article: https://galbraithrushby.co.za/your-will-is-only-part-of-the-plan/
For help reviewing your will and broader estate plan, speak to your Galbraith Rushby consultant. [021 4473840]

Signing a will is not the end of estate planning. It is the starting point. It may be worth taking a closer look at the bigger picture - your assets, liabilities, family circumstances, business interests, trusts, tax exposure and, importantly, the liquidity your estate will need when the time comes.

17/09/2026

Think your trust is "dormant"? SARS may see things differently.

Trust Filing Season opens on 19 September, and SARS has already indicated that nil returns and assessed losses will be a focus area this year.

Even a relatively passive trust may still have assets, liabilities and other information that needs to be declared.

And remember: while your accountant or tax practitioner can assist with the return, trustees remain responsible for the trust's compliance.

Now is the time to get your trust affairs in order.

15/09/2026

New rules for trusts could be coming.

The proposed Regulation of Trusts Bill, 2026 could significantly change how South African trusts are governed and administered.

It is still draft legislation - but it signals a continued move towards greater accountability, transparency and protection for beneficiaries.

If you're a trustee, founder or beneficiary, this is one development worth keeping on your radar.

We'll keep you updated as it progresses.

08/09/2026

Do you have a will? Great. But do you have an estate plan?

With Wills Week around the corner, it's a good time to think beyond simply having a signed will tucked away somewhere.

Good estate planning is about protecting your family's financial future and making sure your affairs are structured so that your wishes can be carried out with as little stress, uncertainty and financial hardship as possible.

Ask yourself:
✓ Is my will up to date?
✓ Have my family circumstances changed?
✓ Have I chosen the right executor?
✓ Will my estate have enough cash to settle its obligations?
✓ Are my beneficiary nominations still correct?
✓ What happens to my business or other significant assets?

Your life changes. Your estate plan should change with it.

Ahead of Wills Week, take the opportunity to review yours.

Read Estate Planning: Why it matters and how to do it right by Prelene Neerputh.
https://galbraithrushby.co.za/estate-planning-why-it-matters-and-how-to-do-it-right/

Proper estate planning during one's lifetime - a valid will, sufficient liquidity and careful structuring of assets - ensures the winding up of an estate is smoother, faster and less costly.