Health department, Treasury discussing changes to medical tax credit
Policymakers are planning a systematic phasing-out of the rebate as the NHI Fund takes over payment for benefits financed through medical schemes.
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SIU flags interference as SCOPA inquiry exposes governance and financial failures at RAF
The Special Investigating Unit has raised serious concerns over potential interference by the Road Accident Fund in its ongoing investigation.
RAF inquiry | ‘You can’t fix liabilities through accounting’
Treasury says the RAF must address its claims and payments processes, not try to manage its massive liabilities by changing accounting standards.
COFI will redefine the OPFA’s role and scope
Expanding the Office’s mandate to include disputes involving advice will enhance member protection, but there are concerns over jurisdictional overlaps and operational costs.
What the FSCA and retirement funds are doing to tackle arrears
Commissioner Unathi Kamlana is confident that within two years, arrears could be far less of a systemic problem.
SARB and Treasury align on 3% inflation objective as repo rate holds
Governor Kganyago signals target reform ‘as soon as is practical’ while policymakers pause cuts.
Treasury downplays impact of schools’ forced VAT deregistration
ISASA says there has always been a distinction between exempt (educational) and taxable (commercial) supplies.
What ‘capital’ could be in a CIS capital distribution
A proposed amendment to the Income Tax Act will tax unit trust investors on capital distributions before disposals, without any base cost offset.
Treasury favours conditional access to retirement pot for retrenched workers
It is also open to discussions on letting members transfer all their vested savings into their retirement and savings components.
Tax amendments under fire for squeezing out revenue at the expense of growth
Industry stakeholders say poorly consulted proposals risk undermining investment, savings, and innovation.
Draft Bill hides a ‘stealth tax’ in your unit trust investments
Proposed amendments could undermine the tax-efficient compounding that makes a collective investment scheme an attractive investment vehicle.
Draft amendments narrow taxpayers’ ‘bona fide inadvertent error’ defence
The proposal restricts the ‘bona fide inadvertent error’ defence under the understatement penalty regime to cases where the tax shortfall is a ‘substantial understatement’.
Treasury official to run GPAA amid probe into procurement transactions
National Treasury has opened a forensic investigation into procurement deals after irregularities in contracts totalling more than R1.2bn were reported.
SA residents face taxation on previously untaxed foreign pension benefits
The amendment treats foreign pension benefits like other residence-sourced income, shifting the retirement planning landscape for South Africans who worked overseas.
Treasury publishes tax changes affecting pensions, trusts, and individuals
In addition to foreign pensions and trust income, the measures affect death benefits, child maintenance, capital distributions by unit trusts, and assessed losses.
VAT-registered schools may face cashflow shock
The proposed blanket exemptions for goods and services supplied by schools will force VAT-registered schools to deregister and lose input-tax recovery.
No blanket exchange control exemption for cryptocurrencies
The SARB will publish targeted frameworks to govern cross-border crypto flows and CASP reporting, says the Minister of Finance.
