“SARS has awarded itself a 30-day interest-free holiday on taxpayer money.” According to Moneyweb, the law now allows the revenue service to reduce the amount of interest it must pay a taxpayer in the event of an overpayment. A “sneaky” new amendment in South African tax laws now gives SARS a 30-day interest-free ‘holiday’ when […]
The President has given effect to the 2020 tax proposals by signing three tax Acts into law that will introduce several big new changes for South African taxpayers: The Rates and Monetary Amounts and Amendment of Revenue Laws Act No. 22 of 2020: The Taxation Laws Amendment Act No. 23 of 2020; and The Tax […]
While the legislation that governs tax exemption for religious institutions is robust, enforcing compliance could be difficult, Louis Botha, an associate in Cliffe Dekker Hofmeyr’s (CDH’s) Tax & Exchange Control practice recently mentioned. According to Botha, while there is nothing wrong with the legislation that governs how churches and other religious institutions are taxed, enforcement […]
Some sweeping changes will take effect from 1 March 2016. The Taxation Laws Amendment Act No. 25 of 2015 that was published in Government Gazette No. 39588 on 8 January 2016 confirms the changes to the tax treatment of contributions and the alignment of the annuitisation requirements between retirement funds from 1 March 2016. Momentum’s Legal Update 3/2016 looks at the impact of […]
