In the 2021 Budget Review tabled with finance minister, Tito Mboweni's budget speech yesterday, Treasury announced that Section 12J of the Income Tax Act will not be extended past its sunset date of 30 June 2021.
From a healthcare perspective, this year's Budget Speech is significant in three key ways...
Ahmed Banderker 18 hours ago
2020 will likely forever be remembered for its major challenges, including many personal losses caused by Covid-19. In the wake of a year of lockdowns, job losses, and more, both businesses and staff are looking to the annual Budget Speech happening on 24 February with a mixture of hope and dread...
Administrators of retirement funds are in for a busy time. This is because the new tax rules regarding the annuitisation of provident funds are coming into effect...
Deirdre Phillips, Mogola Makola and Aneria Bouwer 17 Feb 2021
Section 12J not only offers attractive returns to investors, but is structured to make a positive and significant impact on the economy by providing capital to both SME's and job creation...
Grovest 11 Feb 2021
In the 2020 budget tax proposals, it was stated that "substantial tax increases are unlikely to be effective... New tax increases at this time could harm the economy's ability to recover"...
Patricia Williams 10 Feb 2021
The Financial Sector Conduct Authority (FSCA) has again warned of a number of high risks associated with investing in crypto assets, in the wake of the recent Mirror Trading International Proprietary Limited debacle...
Natalie Scott & Kyra South 8 Feb 2021
The South African Reserve Bank (Sarb) recently published a circular setting out changes to the rules around loop structures in South Africa...
Judy Snyman 3 Feb 2021
The South African Revenue Service (Sars) has extended the filing season deadline for provisional taxpayers from 29 January to 15 February, due to the challenges of Covid-19...
The correct VAT treatment of vouchers for digital services has been a grey area for many years. Towards the end of 2020, mobile network provider MTN applied for a declaratory order to obtain clarity in this regard...
Aneria Bouwer and Sduduzo Mhlongo 27 Jan 2021
The Tax Administration Act requires Sars officials to preserve the secrecy of taxpayer information. In the Public Protector v CSARS, the Constitutional Court had to decide whether the Public Protector's subpoena powers trumped those of Sars obligations to keep taxpayers' information secret...
Graeme Palmer 25 Jan 2021
Environmental, social and governance (ESG) integration in the corporate decision-making process is gathering momentum around the world...
Giles White, Elodie Maume, Madelein Burger, Zelda Swanepoel & Kent Davis 21 Jan 2021
Know your customer (KYC) procedures are still a work-in-progress in the cryptocurrency industry. But businesses in this space, though still largely unregulated, need to comply with anti-money laundering (AML) legislation or risk facing punitive measures.
James George 20 Jan 2021
The recent High Court judgment Graspan Colliery v The Commissioner for the South African Revenue Services [2020] could have significant implications for mining operators and their ability to claim diesel refunds...
Prenisha Govender 18 Jan 2021
