Company retirement fund benefits: what are your options on resignation or retrenchment?
The pension or provident fund is likely to have additional risk benefits that may change significantly when you leave your current company.
Tax
Considerations when deciding whether to keep a company dormant or close it
An entity can formalise its dormancy by way of a liquidation process or by deregistering with the Companies and Intellectual Property Commission.
Retirement funds and death benefits: what options do beneficiaries have?
There is a major difference between pre-retirement and post-retirement funds regarding the nomination and payment of beneficiaries.
Sars publishes important guides for taxpayers – including trusts
One of the guides applies to the Income Tax Return for Trusts.
Two pots: fund members must understand the implications of withdrawals
Money in the savings pot should be withdrawn only as a last resort, for absolute financial emergencies.
Preservation should be the top priority in the messaging about two pots
Administrators are concerned there is not enough time for financial advisers and members to understand the implications of the changes.
No ‘hidden agenda’ behind Discovery’s ‘constructive’ opposition to NHI
Discovery is not hoping to secure a tender to administer the National Health Insurance scheme, says chief executive.
Two pots: good news about tax on lump-sum withdrawals at retirement
National Treasury resolves the conflict between the draft legislation and the explanatory memorandum.
Treasury wants to exclude these ‘legacy’ RA funds from the two-pot system
Plus: the proposals for defined-benefit funds, inter-fund transfers, section 37D deductions, and the taxation of contributions and growth.
Understand when tax is triggered on crypto assets
Clarity on when a gain is considered revenue or capital.
New green energy fund offers investors a tax break of up to 100%
As with the similar section 12J investment incentive schemes, the barrier to entry is high.
Don’t stop paying tax, vote for a better government, says Sars commissioner
Edward Kieswetter also shares his views on tax breaks for home electricity generation and a wealth tax.
Two pots will add complexity to the tax treatment of retirement benefit withdrawals
Withdrawals from the savings and retirement pots will be taxed in different ways.
Beneficiary nomination updates and crypto assets in a will
New trends call for new requirements. Help your clients to fulfil their wishes when the time comes.
Sars announces important change to Voluntary Disclosure Programme
The VDP allows taxpayers to come clean on non-compliance that may lead to penalties discovered by Sars.
Basic income grant: more money in poor people’s pockets but at a heavy cost
Analyses of the implications of extending income support measures in South Africa, including a basic income grant (BIG), have focused on one of three things: how much it will cost, calculations about how […]
No more supplementary declaration forms, but verification of corporate taxpayers remains
Sars will now ask for specific supporting documents targeted at addressing particular risks.
