More amendments on the table to get SA off the grey list
One of the amendments will allow Sars to share taxpayer information with a wider range of government agencies.
National Treasury
No major cuts to government expenditure in MTBPS, says Godongwana
National Treasury’s approach is ‘moderate’ spending cuts and a ‘sustainable’ increase in borrowing.
Ombud Council’s 2024/25 budget reflects shift to operational independence
Bridging finance from National Treasury may not be required now that it has certainty of receiving levy and special levy income.
Ombud Council wants to avoid another property syndication complaints scenario
The problems with resolving these complaints also highlight the need to integrate the advice- and the product-related ombud schemes.
Here are the details of the government’s loan scheme for solar energy
Businesses and households can apply for both the renewable energy tax breaks and the Energy Bounce Back Loan Guarantee Scheme.
Tax law change may shrink SA multinationals’ global footprint
The Supreme Court of Appeal’s judgment in the Coronation case finds its way into proposed amendments to the ‘controlled foreign company’ rules.
Clarity on anti-avoidance rules for low-interest or interest-free loans to trusts
The amendments encompass debt denominated in a foreign currency and the primary residence exclusion.
Treasury publishes retirement fund tax amendments for comment
One amendment will affect inter-fund transfers by members who have reached normal retirement age but who have opted not to retire.
Treasury moves to end ‘double dipping’ the TFSA and retirement fund tax exemptions
An anomaly in the Act results in the creation of two years of assessment during a single 12-month period when an individual ceases to be a tax resident.
Amendment enables stronger punishments for ‘serious improper conduct’ by auditors
The Financial Matters Amendment Act introduces stronger sanctions for auditors and significant reforms to pension funds.
Breaking the Codi – peace of mind comes at a price
Survey gives insight into what South Africans and their banks may have to pay when the nation’s first deposit insurance body becomes operational.
When will Cofi be served?
The FSCA publishes its updated regulatory agenda for the next three years.
GEPF and other public sector funds ‘will be part of the two-pot system’
How accessibility and seeding will impact members of defined-benefit retirement funds.
Two pots: fund members must understand the implications of withdrawals
Money in the savings pot should be withdrawn only as a last resort, for absolute financial emergencies.
Preservation should be the top priority in the messaging about two pots
Administrators are concerned there is not enough time for financial advisers and members to understand the implications of the changes.
Treasury hasn’t done any new work on the cost of NHI – report
Factsheet merely confirms what we already know about how the scheme will be funded.
Treasury director Yanga Mputa appointed as the new Tax Ombud
The ombud’s office is a crucial mechanism for ensuring fairness, accountability, and transparency in the tax system, finance ministry says.
