Retirement savings not immune to SARS tax collection orders, court rules
SARS can appoint third parties to deduct tax debts directly from retirement funds, overriding the protections under the Pension Funds Act.
Compliance and Legislation
FSCA announces proposed levy increase for 2025/26
The increase is below the 6% CPI-related increase permitted by the Levies Act.
Amendment to ADR process may resolve tax disputes faster
Taxpayers may soon have a faster, cost-effective way to resolve disputes with SARS through alternative dispute resolution at the objection phase.
High Court rules against financial firm in restraint of trade dispute
The FSP failed to prove the existence of a protectable or that the restraint had been breached.
Should all tokens be equal in the crypto market?
As the regulatory framework develops, many questions remain – particularly around whether all tokens, from fungible coins to unique NFTs, will be regulated the same way.
Does ‘sitting on the mattress’ matter? Ombud rules on insurance policy dispute
The NFO decided that failing to follow customary mourning rituals did not prevent the recognition of a customary marriage, awarding the claim based on fairness.
Tribunal upholds financial planner’s actions in annuity rate dispute
The planner acted in the client’s best interest, highlighting the importance of clear communication and thorough record-keeping in financial advice.
Under-reported crypto income may lead to tax assessments on past profits
With SARS tightening crypto enforcement, taxpayers should review their past filings, ensure accurate reporting of crypto profits, and consider the Voluntary Disclosure Programme to avoid severe penalties and interest.
R3m fine and 10-year debarment for VBS-linked adviser
The former owner of Gundo Wealth Solutions has been fined R3 million and debarred for a decade for brokering investments into VBS Mutual Bank.
FSCA’s first enforcement action for unauthorised trading signals
The Authority has made good on its undertaking to act against unlicensed trading signal providers, imposing a R1m fine and a 10-year debarment.
Banxso: FSCA suspends licence and FIC freezes bank accounts
The Authority says its investigation raises concerns about aggressive sales tactics, unrealistic returns, and significant losses by clients.
New OHS guide: essential resource for employers and workers
A newly published guide by the Department of Employment and Labour provides vital information on occupational health and safety.
ConCourt clarifies when medical schemes can cancel membership for non-disclosure
Medical schemes cannot cancel membership based solely on the non-disclosure of a diagnostic procedure that does not lead to the diagnosis of a serious medical condition.
‘Instructive remarks’ from the Constitutional Court on understatement penalties
Expert legal interpretations, even if contrary to SARS’s stance, may not automatically result in understatement penalties.
Innocent mistake? Tribunal sides with FSP in confidentiality breach case
The rep claimed he never meant to harm the FSP, but the FST found his actions violated the FAIS Act and demonstrated a lack of integrity.
Tribunal criticises FSCA for missteps in oversight of retirement fund
The FST orders the FSCA to reconsider key decisions regarding the Municipal Employees Pension Fund, saying the regulator overstepped its authority.
FSCA to act against trustees who haven’t completed Training Toolkit
The Authority has issued a request for up-to-date information on trustees so it can check whether they are compliant.
