Employee tax incentive extension – opportunities and concerns
The Taxation Laws Amendment Act No. 23 of 2018, promulgated on 17 January 2019, extended the Employee Tax Incentive scheme (“ETI scheme”), which would have lapsed on 28 February 2019, for a further 10 years.
Tax revolt both irresponsible and highly unlikely, say economists
Western Cape Premier Helen Zille’s call for a tax revolt is “quite anarchist” as it promotes civil disorder and disobedience, an economist has said.
Agrizzi’s revelations – taking a bet on whether sars or the NPA takes prosecution lead
The arrival of Angelo Agrizzi at the State Capture Commission has been nothing short of spectacular.
Cryptocurrencies are exploited without regulation
The South African Reserve Bank (SARB) released a consultation paper in January, wherein it discussed “cryptocurrency regulation”. This refers to the regulation of digital assets or virtual currencies, such as Bitcoin, which are used to trade online through secure transactions, called Blockchain. Today, there are over 1,600 cryptocurrencies worldwide. This includes obscure currencies, such as Vertcoin and […]
Offshore Tax Exemption to be Reviewed
The controversial tax on income South Africans earn abroad and the R1 million exemption on it will be revisited during a special workshop between National Treasury and industry players in coming weeks.
The benefits of a company vehicle for small businesses
Running errands, doing collections and deliveries, sourcing supplies and materials, and liaising with suppliers and customers? It’s all in a day’s work for employers and employees of small businesses.
Unsettling times ahead for employee tax and take-home pay
The 2019 election year brings the normal risk of some tax populist decisions, including much higher social grants. This will add to the fiscus’ pressure, desperate for additional tax revenues. Personal income tax, which is mostly collected from employees, is by far the largest contributor to tax in South Africa. The goose which lays the […]
Countdown to the Commencement of the Amended South African Expatriate Tax Law
The announcement by National Treasury and SARS in 2017 that the tax exemption on South African expatriates is set to change, has resulted in the lifestyle of many South Africans, who are employed by companies abroad, to rapidly change from a South African tax liability point of view.