FIC to host another free webinar on how to complete risk and compliance returns
The relevant accountable institutions must submit the RCRs to avoid additional scrutiny or administrative sanctions.
RAF faces claims surge if form falls
SCOPA says the RAF 1 form may have kept claims out of the system, leaving the Fund exposed to a wave of unrecognised liabilities if it is set aside.
FIC webinars on reporting unusual and suspicious transactions
There is a webinar for legal practitioners, trust and company service providers, estate agents, and high-value goods dealers.
Budget brings very little cheer for the average consumer
Financial experts from Momentum weigh in on how the Budget may impact consumers and taxpayers.
Budget 2024: bad news for personal income taxpayers
Here are the government’s proposals for PIT, the medical tax credits, the fuel levies, and the duties on alcohol and tobacco.
SCA ruling highlights the legal pitfalls of loans among ‘friends’
The Supreme Court of Appeal’s recent decision underscores the critical importance of understanding ‘transactions at arm’s length’ under the National Credit Act.
MBSE’s NCA courses: three ways for credit providers to comply
Moonstone Business School of Excellence’s engaging and interactive National Credit Act courses are tailored for industry professionals.
Government to withdraw R150bn from SARB’s gold and forex account to get a handle on debt
A proposed reform will see half the account’s R500bn distributed to a SARB contingency reserve (R100bn) and to Treasury (R150bn).
Multinationals will be subject to a minimum effective tax rate of 15%
SARS will apply a top-up tax on profits reported by qualifying South African multinationals operating in other countries with effective tax rates below 15%.
Treasury anticipates tax windfall from two-pot retirement system
Many fund members are likely to withdraw the seed capital from their savings component.
Whatever happened to … NHI?
The Minister of Finance says the R1.4 billion allocation demonstrates the government’s commitment to National Health Insurance.
Whatever happened to … a basic income grant?
Changes are afoot to the qualifying criteria for the Social Relief of Distress grant, for which provisional expenditure has been allocated to 2027.
CEO ‘guilty of negligence’ after firm suffers R15m fraud
The loss equated to more than 20% of the company’s annual profit, based on the exchange rate at the time of the incident.
How much tax you may have to pay to fund NHI
The substantial tax increases would have to be implemented in an already tough economic environment, says a report by FTI Consulting.
Positive Budget bodes well for domestic bonds and equities
Old Mutual weighs in on how the Budget is likely to affect the country’s credit rating, economic growth, and the capital markets.
Fiscal risks to SA remain despite government’s debt-containment measures
National Treasury continues to toe the line between fiscal continuity, consolidation, and declining revenues amid an increasingly stagnant local economy.
Godongwana’s financial juggling is no substitute for economic growth
Whether the objectives as set out in the Budget are achievable will be determined by the government’s political will to anchor expenditure and put resources to better use.
Financial services provider slapped with R400 000 fine for FICA violations
Implementing – not merely creating – a Risk Management and Compliance Programme is crucial to ensure compliance with the Act.
