My Guys Pty Ltd

17/06/2026

High-net-worth taxpayers increasingly turn to formal tax opinions for dispute protection and clarity on complex positions.

Legal backing strengthens cases against SARS assessments.

Partner with My Guys for expert opinion drafting and risk mitigation.

High-net-worth taxpayers are increasingly seeking tax opinions to navigate complex tax positions and reduce risks. This article explores the benefits of obtaining a tax opinion and its role in ensuring compliance with South African tax legislation.

15/06/2026

Do you have a foreign-owned vehicle?

A new SARS rule requires the declaration of foreign-owned vehicles, targeting import duty evasion and customs compliance.

Owners face penalties if unreported.

My Guys can help you file declarations correctly and avoid fines.

The South African Revenue Service (Sars) has announced that individuals entering or leaving South Africa with foreign-registered vehicles will be required to declare them on the Sars Traveller Management System (TMS).

12/06/2026

You can see your SARS refund amount, payment date, or amount owed and its due date directly on eFiling by checking your Statement of Account under Returns.

The ITA34 notice shows positive balances as refunds or negative as amounts due, with payments typically processed within 72 hours after bank validation.

For help navigating eFiling, My Guys are just a call away.

Yes, you can see both on eFiling.

10/06/2026

It’s almost tax filing season! SARS has announced its 2026 filing dates with non-provisional individuals filing from 13 July to 23 October 2026 and provisional taxpayers until 22 January 2027.

Auto-assessments precede the season, and digital channels expand access.

Differences this year include enhanced verification steps.

My Guys can guide you through these updates smoothly.

The crucial dates and updates for the 2026 SARS tax filing season, ensuring you stay compliant and avoid penalties

18/05/2026

Non-provisional individual taxpayers must file by Friday, 23 October 2026.

The season typically opens in early to mid-July.

Need help filing your return, contact My Guys.

15/05/2026

SARS has released 2026 tax filing deadlines via Government Gazette No. 54598, covering the year of assessment from 1 March 2025 to 28 February 2026.

Non-provisional individual taxpayers must file by Friday, 23 October 2026.

The season typically opens in early to mid-July, starting with auto-assessments.

Provisional individual taxpayers and all trusts face a 2026 filing deadline of Friday, 22 January 2027.

Resident trusts must submit regardless of income levels.

Auto-assessed taxpayers opting out must meet these dates to avoid penalties.

Companies and resident juristic persons submit returns within 12 months of financial year-end if gross income exceeds R1,000 or other thresholds met.

This applies to approved public benefit organisations and recreational clubs as well.

Early preparation ensures compliance amid digital mandates.

Let’s get you ready for tax filing season!

13/05/2026

Recently, the Department of Employment and Labour raised the Compensation Fund annual earnings cap to R668,000 per employee effective 1 March 2026, up from R633,168.

This adjustment affects Return of Earnings calculations, capping assessments above this threshold.

Employers must apply it to provisional earnings estimates for 1 March 2026 to 28 February 2027 during ROE filing.

Minimum annual Compensation Fund assessments stay at R1,621 for standard employers and R560 for domestic ones, ensuring baseline contributions regardless of payroll size.

These apply across the ROE period from 1 April to 30 June 2026.

Accurate reporting maintains Letters of Good Standing and avoids penalties.

The 2026 ROE submission season runs from 1 April to 30 June 2026, covering actual earnings from 1 March 2025 to 28 February 2026.

Use prior thresholds for historical data and the new cap for forward estimates.

Timely submission prevents disruptions to business operations and compliance status.

Need help? Call My Guys!

11/05/2026

SARS has intensified its crackdown on expats moving money offshore, requiring Approval of International Transfer certificates before bank transfers.

Non-compliance risks account freezes and full tax affairs scrutiny.

Expats must align their tax residency status urgently to avoid transfer restrictions.

Are you all up to date and compliant?

If not, let My Guys help you get your tax affairs in order.

‘Now they've got the worry that Sars wants to tax them on everything they've been building outside of SA as though they were tax residents,’ says Jonty Leon, managing partner at Leap Group.

10/05/2026

To all the moms out there..

08/05/2026

If you've ever wondered where your tax money goes, here's a superb breakdown.

Here's what happens when SARS receives R100:
The largest portion goes to debt servicing at R16.53.
Basic education receives R13.43.
Social protection gets R12.44.
Health receives R11.48. Community development initiatives take R10.87.

This is a concerning breakdown, because debt costs have ballooned.

There are, however, positive signs ahead. Finance Minister Enoch Godongwana believes South Africa has turned a corner with government debt stabilizing.

Tax revenue is increasing as investments in electricity generation and port infrastructure pay off, with the economy projected to grow 1.6% in 2026 and 2% in 2028.

Understanding where your tax contributions go is critical for financial planning.

Ask My Guys for expert tax advice and guidance on how to optimise your tax strategies.

Based on the latest statistics, this is how the government spends every R100 you pay in tax.