SARB warns of the risks if SA fails to exit the grey list by June 2025
The bank’s Financial Stability Review also flags the growing financial distress among households and SMMEs and the vulnerabilities in the commercial real estate sector.
The bank’s Financial Stability Review also flags the growing financial distress among households and SMMEs and the vulnerabilities in the commercial real estate sector.
The FSCA is evaluating whether administration fees are reasonable. If it believes they are not, it will explore whether it is necessary to cap or regulate fees.
But with challenges around outdated systems, procurement bottlenecks, and cybersecurity risks, will the government be able to harness the full potential of South Africa’s digital future?
The proposal is for hedge funds to be subject to a different tax regime, potentially removing the ‘revenue versus capital distinction’ that causes tax uncertainty.
The proposed minimum unit price for alcohol could make drinking less affordable and curb harmful consumption, but critics argue it may unintentionally fuel the already substantial illicit alcohol market.
SASRIA says the proclamation issued by President Ramaphosa follows its request for assistance from the Special Investigating Unit.
MPs are also told that the fiscus cannot afford a permanent and expanded Social Relief of Distress grant without tax increases.
After years of stalled progress, the FSCA’s recent comments suggest National Treasury may renew its push for auto-enrolment.
The Medium-Term Budget Policy Statement reveals a budget surplus and reduced wage bill, but it warns of ongoing financial pressures due to modest economic growth projections.
National Treasury tells companies and trusts to submit their beneficial ownership information by the end of November.
Taxpayers may soon have a faster, cost-effective way to resolve disputes with SARS through alternative dispute resolution at the objection phase.
Among other things, the revised Amendment Bill will clarify how funds should calculate seeding when provident fund members choose to join the system.
Key achievements include the creation of the National Financial Ombud Scheme and the new FAIS Ombud Rules.
Funds made different calls on the conditions for the exclusion of provident preservation fund members and the seeding date for members who opt in.
Sasria’s five-year strategic plan includes the reintroduction of R1bn excess of loss cover and expanding its coverage for events such as natural disasters.
The tax structure aims to be progressive, with low-income earners paying little to no tax on withdrawals, while high earners are taxed more.
CEOs and other decision-makers have just under three months to provide input on the Draft South African Financial Education Commitment Charter.