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Pension funds & emigration – tax impact

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Investing in an offshore retirement fund is one way of growing your wealth in a stable economy over the longer term, or even gaining residency in a foreign country. However, for South Africans, this scenario presents as many challenges as it does opportunities and should only be considered after consulting with a financial adviser and tax expert.

Ceasefire of Section 164 in SARS’ war on non-compliance

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Dispelling accusations of any revenue collector can feel like the fight of your life, especially where you are factually not on the wrong side of the law! Amongst these collectors, the South African Revenue Service (SARS) stands firm as one of the most strategic movers, turning the fight into an all-out war, the war on non-compliance!

Upholding fiscal responsibility – a call for good governance

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In the challenging economic circumstances that South Africa currently faces, the impact of fiscal responsibility – the balanced use of government spending and tax to influence the economy – on taxpayers, businesses, and the nation's overall economic well-being cannot be overstated.

Safeguarding your company – impact of CIPC information breach

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Reparative measures may have been taken to remedy the Companies and Intellectual Property Commission hack which reportedly took place on 29 February 2024 however this information breach may have long-lasting and detrimental effects!

Unpacking onerous adjustments to the apportionment formula

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The shortcomings of the Value Added Tax (VAT) apportionment formula set out in 2011, have been addressed in a new formula which applies with effect from all financial years commencing on or after 1 January 2024. We highlight important adjustments to the formula which is laid out new Binding General ruling, BGR 16 (Issue 3).

Are TFSA’s a waste of time?

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South Africans should understand that if they have substantial sums of money deposited in either a bank or investment account, they will inevitably be required to pay taxes on the income or capital growth derived from it.

Budget 2024 avoids direct tax increases

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Minister of Finance Enoch Godongwana delivered his Budget Speech 2024 to Parliament and the nation on 21 February 2024. A key announcement was that tax rates will not be increased in 2024/2025, as previously signalled by the Medium-Term Budget Policy Statement (MTBPS) 2023, to generate the extra R15 billion needed in revenue.

No major tax hikes but budget fails to deliver any relief...

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Catherine Wijnberg | CEO | Fetola | mail me | The 2024 budget speech was a fine balancing act between stabilising the country’s debt burden...

BUDGET 2024 – an overview

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Committing to maintaining sustainable public finances proves to be challenging amidst a geopolitically tense global environment, less favourable growth in the global economy, and persistent energy and logistics obstacles locally. These factors collectively jeopardise government revenue growth, widen the budget deficit, and increase the country's debt ratio.

Budget 2024 | SA Finance Minister Enoch Godongwana’s Speech

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The 2024 Budget was tabled to Parliament on 21 February 2024 by South African Finance Minister Enoch Godongwana. Tax Pocket Guide Honourable Speaker, Nosiviwe Mapisa-Nqakula His Excellency,...

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