Two pots: good news about tax on lump-sum withdrawals at retirement
National Treasury resolves the conflict between the draft legislation and the explanatory memorandum.
National Treasury
‘Treasury’s fiscal conservatism may undo the solar energy tax break’
Inverters are a crucial part of any solar energy system and excluding them from the tax incentive does not make sense, says Webber Wentzel.
‘Many years’ to go before NHI poses a threat to medical schemes, says Discovery
CEO Ryan Noach says there’s ‘no way’ the government can nationalise members’ contributions.
Cosatu wants a higher cap on transfers to fund members’ savings pots
It’s also hoping for concessions on access to the retirement pot when members are retrenched or dismissed.
Seeding will have a minimal impact on retirement funds’ liquidity, says Old Mutual
The updated legislation puts the retirement industry in a better position to be ready by 1 March 2024, it says.
This is how much you will be able to transfer to your savings pot on 1 March 2024
Retirement fund members who are expecting a big pay-out will be disappointed.
Latest proposals on how the two-pot retirement system will work
A guide to the features of the three components: savings, retirement, and vested.
Treasury wants to exclude these ‘legacy’ RA funds from the two-pot system
Plus: the proposals for defined-benefit funds, inter-fund transfers, section 37D deductions, and the taxation of contributions and growth.
Treasury gives the FIC a R265m boost to fight financial crime
The Centre has launched a new forensic unit to assist law enforcement combat complex money-laundering cases.
Health insurance benefit increases for 2023 published
The annual benefit escalations for policies that fall under the Demarcation Regulations.
‘Raft of financial sector legislation coming in the next 3 to 5 years’
FSCA wants to step up market surveillance to combat insider trading and price manipulation.
Former members of deregistered funds won’t pay tax on bulking payments
Exemption is the last opportunity to rectify the error, National Treasury says.
Treasury publishes draft legislation on renewable energy tax incentives
Grey areas remain when it comes to the rebate for residential solar panels.
Beneficial practices for taxpayers and tax practitioners remain … for now
They concern two deductions: non-business-related interest expenses and fees paid to tax practitioners for completing tax returns.
A deeper look at the solar panel tax incentive for individuals
There are a number of grey areas that the draft legislation will (hopefully) clarify.
South Africans want ‘the rich’ to pay more tax, survey finds
In a country where only about 12% of the population is carrying the personal income tax burden, who exactly are ‘the rich’?
Two-pot retirement system: what are the four key issues still to be resolved?
There is still considerable uncertainty regarding what must to be implemented by the retirement industry.
