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.
#SouthAfricanRevenueService
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.
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.
Influencers in the tax net: SARS clarifies approach to digital income
Remuneration extends beyond cash payments – products, services, and travel perks must also be declared as taxable income.
Navigating double taxation agreements in retirement planning
DTAs shape the taxation of lump sums and annuities. This is what financial advisers can do to preserve clients’ retirement benefits.
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’.
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.
Sticky VAT thresholds create ‘economic distortion’
Tax specialists say stagnant thresholds have the opposite effect of policy aims – instead of freeing SMEs to scale up, they incentivise remaining under the threshold.
Tax disputes: compliance and the interests of justice trump rigid timelines
The Supreme Court of Appeal found in favour of SARS despite it ignoring a 45-day timeline for more than a year.
SARS: Almost 100% of its auto assessments are accurate
Tax practitioners say the headline statistic may obscure the true extent of incomplete auto assessments.
Scammers want your refunds – stay sharp this filing season
As individual tax filing season officially opens today, SARS warns taxpayers to stay vigilant against a surge in sophisticated scams.
SCA confirms validity of a tax opinion when it is correct in fact and law
Supreme Court rejects SARS’s argument that the expert’s opinion was tainted by self-interest because of the fee he would earn.
SARB: Two-pot system adds two percentage points to PIT growth
Even after record withdrawals, retirement fund assets expanded in the third and fourth quarters of 2024, driven by movements in financial markets.
Need for trust and taxpayer support to drive voluntary tax compliance
Despite improvements in taxpayer education and system simplification, low trust in government remains the biggest barrier to voluntary compliance in Africa.
SARS escalates crypto crackdown – how to advise clients
Whether clients are long-term holders of crypto or occasional traders, transparency now is better than an audit later.
