National Treasury would like to inform all members of the public that the tax harmonisation reforms of retirement funds will be implemented from 1 March 2016. This is in terms of the current law legislated in 2013, and amended in 2014 by shifting the effective date to 1 March 2016 (i.e. the Taxation Laws Amendment […]
It is that time of the year again when Medical Aid Schemes are releasing their premium rates for the 2016 calendar year. In a comparison, conducted by Remuneration Consultants South Africa, the 2015 and 2016 contribution rates of seven of the most prominent Medical Aid Companies in South Africa revealed an on average contribution rate […]
Whilst political opportunism, some would argue, delayed the Minister of Finance, Nhlanhla Musa Nene, from delivering his medium term budget statement in parliament in October 2015, the Minister eventually had an opportunity to address parliament. Amidst the building chaos outside of the parliament building and the weakening rand, the Minister announced a few important and interesting […]
The first automatic exchange of information between tax jurisdictions took place in September 2015. The system is aimed at assisting revenue authorities across the globe with combatting base erosion and profit shifting. South African taxpayers who has been using offshore bank accounts to evade South African tax will be well advised to seek professional assistance […]
Let’s face it: as a general populace, we aren’t great at managing money. But it’s no wonder why: From taxes to investing to debt-busting, there’s a lot that goes into financial planning. And while we’re all for learning to do it yourself, there are a number of reasons you’d enlist the help of an advisor. […]
Income tax is a constant source of controversy and debate, no matter what country you live in. “Should 5% appear too small, be thankful I don’t take it all … You’re working for no one but me,” sang the Beatles in their 1966 hit Taxman, in an attack on the then Labour government’s high tax rates. […]
Day 3 Stream 2 – Administrative and IT Issues in payroll
Tax Law changes impacting employee remuneration and benefits, remuneration structuring and employee pay practice Tax Indaba 2014 9 – 13 June 2014
Introduction On 17 July 2013 the Minister of Finance, Mr Pravin Gordhan, announced the members of the Tax Review Committee (the Committee) as well as the Committee’s Terms of Reference. This gave effect to the Minister’s previous announcement in February 2013 when he tabled the 2013/14 Budget that government will initiate a tax review this […]
A new survey of 21,950 expatriates from around the world has crowned Singapore as the best place to be an expat. The Expat Explorer country league table, commissioned by HSBC and now in its eighth year, uses a variety of criteria including economics, experience and family life. Singapore received a 67% approval from expats living there, who […]