NEWS | IT’S REAL CHANGE TAXPAYERS NEED, NOT JUST PROMISES – THE BUDGET SPEECH 2020
The spirited Budget Speech given by Minister Tito Mboweni this Wednesday may have given many taxpayers a sense of cold comfort in an otherwise tumultuous economic conditions in South Africa.
NEWS | NATIONAL TREASURY TAKES A VIEW ON FINANCIAL EMIGRATION
South Africa Bleeding Skills Not surprisingly, there has been an outflow of South Africans in recent years for various reasons, a top reason being the punitive “expat tax” regime promulgated in December 2017, and effective 1 March 2020.
NEWS | BUDGET SPEECH 2020 – GOVERNMENT LAST DITCH ATTEMPT DUE TO EXODUS OF SOUTH AFRICANS
In December 2017, the change to the foreign employment income exemption was promulgated into law. This has widely become known as the “expat tax”. The exemption at that point was capped at R1mil, meaning that South African tax residents earning foreign employment income above this threshold would no longer be exempt from tax in South […]
NEWS | THE STATE NEEDS WEALTH TO ESTABLISH A SOVEREIGN WEALTH FUND
The notion of creating a sovereign wealth fund for South Africa is a contradiction in terms. Jean du Toit, senior admitted attorneys at Tax Consulting SA, says this would imply that we do have surplus funds.
NEWS | ROGUE TAX PRACTITIONER OR ACCOUNTANT AND KEEPING THEM HONEST
The filing of tax returns has evolved from manually submitting your returns to everything being done on the e-filing platform. Taxpayers are in some instances forced by SARS to use the e-filing process and this is Constitutionally allowed and administratively fair, as SARS is obligated under law to operate efficiently as possible.