Life Partners and Estate Duty: Navigating the R3,500,000 Abatement in South Africa
In South Africa, the complexities of estate planning for unmarried couples have long been a source of confusion and concern. A key issue is whether life partners can benefit from t
Independant Reviews
In response to numerous questions regarding Independent Reviews (IR), the reasons they are required and the criteria involved, we have compiled some valuable information for you. W
TAX ALERT: SARS to Implement Penalties for Non-Compliant Trusts
The South African Revenue Service (SARS) is set to enforce administrative penalties on trusts for non-compliance with tax regulations starting April 2025. This move marks the end o
Understanding the Two-Pot Retirement System and Its Tax Implications: What You Need to Know
South Africa’s new Two-Pot Retirement System, effective from 1 March 2024, introduces a significant change to how retirement savings can be accessed. It offers more flexibility b
Navigating Tax Responsibilities Together: Your Trusted Partners in Compliance and Strategy
As we enter the new year, we want to take a moment to reflect on our relationship with you and reaffirm our commitment to providing exceptional tax services. As registered tax prac
SARS Penalties for Late or Non-Submission of Tax Returns: What You Need to Know
The South African Revenue Service (SARS) has implemented administrative penalties for taxpayers who fail to submit their tax returns on time. These penalties are charged monthly ba
Maximising Your Tax-Free Investment: Stay Within Limits to Avoid Penalties
Tax-free investments (TFIs) offer an excellent way to grow your wealth without paying income, dividends, or capital gains tax on your returns. However, as tax advisors, we’re see
New Trust Laws in South Africa
Since Omne opened its doors in 2006, we’ve often been asked whether trusts are still a good thing. We believe trusts still have a place, especially when it comes to intergenerati
Beyond the Will: The Importance of a “Love Letter” in your Estate Planning Vault
A common misconception among South African tax residents is the belief that foreign income is not taxable in South Africa, or that it only needs to be declared if taxes are paid ab
Misconception that Foreign Income is not Taxable in SA
A common misconception among South African tax residents is the belief that foreign income is not taxable in South Africa, or that it only needs to be declared if taxes are paid ab