VAT hike | Guidance for businesses on supply rules and timing
How the general and specific time-of-supply rules will determine whether transactions fall under the existing 15% VAT rate or the increased rate.
Tax
South Africa already has wealth taxes, says Kieswetter
Almost half the revenue from personal taxes is derived from people who earn more than R1 million.
Two (?) VAT hikes and no adjustments to the income tax brackets
A comprehensive round-up of the tax proposals affecting individual taxpayers and consumers.
Provisional tax simplified: key deadlines and compliance strategies
Missing the provisional tax deadlines can lead to steep penalties and interest. This article outlines the key dates and payment rules to help you stay ahead.
Proposed VAT increase: fiscal necessity or economic catastrophe?
Instead of hiking VAT, the government could fix its tax collection problems, improve state resource management, and stimulate the economy to boost revenue.
Will a 2% VAT hike fix the Budget – or break consumers?
The VAT hike could add R58bn to government revenue, but with coalition partners clashing over its impact on ordinary South Africans, the debate over how to fund critical services without deepening the cost-of-living crisis is far from settled.
Tax adjustments, debt concerns, and relief measures: a look at the Budget that wasn’t
A postponed Budget Speech means uncertainty for taxpayers, but the VAT hike and personal income tax adjustments offer insight into the government’s fiscal strategy.
Amendment to ADR process may resolve tax disputes faster
Taxpayers may soon have a faster, cost-effective way to resolve disputes with SARS through alternative dispute resolution at the objection phase.
‘Instructive remarks’ from the Constitutional Court on understatement penalties
Expert legal interpretations, even if contrary to SARS’s stance, may not automatically result in understatement penalties.
SARS is clamping down on undeclared crypto holdings and trades
Among other measures, SARS says it is engaging with the FSCA about providing information on registered crypto asset service providers.
Cosatu wants urgent discussions with Treasury over changes to two-pot system
One of its four proposals is to allow members to transfer up to a third of their vested savings to their savings component.
Beware the tax impact on withdrawals from your savings ‘pot’
Avoiding the tax hit is one of the reasons retirement fund members should have an emergency fund.
MBSE’s top achievers balance work and study in financial planning
Emily Broodryk, Rion Malan, and Francois Mostert share why they found it rewarding to study for the Higher Certificate in Wealth Management at MBSE.
How the process to make withdrawals from the savings ‘pot’ will work
Retirement fund members must ensure their fund has their correct details and they are registered as a taxpayer with SARS.
FSCA alerts funds of consequences if two-pot rule amendments aren’t submitted by 31 July
Funds that cannot pay withdrawals because their rules are invalid must inform members why they may not be allowed to access their benefits.
10 things people often get wrong about the two-pot retirement system
Old Mutual’s learnings about what people know or expect, based on its interactions with customers and advisers.
Pre-retirement withdrawals may cost RA investors dearly, Coronation warns
Withdrawing early effectively means you are borrowing from your future self over a fixed term at your expected rate of return on your RA investment.
