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Appropriate tax mix?

After much speculation over the past few weeks as to how the Minister of Finance would ‘plug the deficit’ in his Budget Speech on 22 February 2017, he has chosen to rely on personal income tax (including trusts) by increasing the top-end rate from 41% to 45%, a dividend withholding tax increase from 15% to 20% (with immediate effect) and increased Fuel and Road Accident Fund levies.

SOUTH AFRICA’S 2017 BUDGET

Minister Pravin Gordhan and his team at National Treasury should be praised for striking the correct fiscal balance in this year’s budget. Gordhan understands...

2017 BUDGET REVIEW

Personal Income Tax As many pundits predicted, the Minister of Finance today announced a new 45% tax bracket for individuals which will apply to taxable...

BUDGET 2017: GREATER THAN THE SUM OF ITS PARTS

Finance Minister, Pravin Gordhan and the National Treasury, have their work cut out for them in the 2017/18 financial year. The economic stewards of...

NEDS MUST REGISTER FOR VAT!

SARS has confirmed the interpretation of the VAT law that requires non-executive directors (NEDs) of companies to register for and charge VAT in respect...

SMALL BUSINESS BUDGET FEARS?

High and middle-income earners are hearing a stream of bad news as the 2017/2018 Budget Speech by Finance Minister Pravin Gordhan approaches. Analysts are...

TFSAS – WHEN ARE THEY APPROPRIATE?

Much has been written about Tax Free Savings and Investment Accounts (TFSAs) and there was considerable excitement when these vehicles were first launched. While...

The calm before the storm

With less than a month to go before the 2017 Budget Speech, attention is shifting to possible tax amendments expected to be implemented in the new tax year.

NEW BILLS SIGNED INTO LAW

On 11 January 2017, President Zuma signed the following Finance Bills into Law. Taxation Laws Amendment Act The main purpose of the Bill is to amend...

TAX IMPACT SA MULTINATIONALS

Proposed tax amendments to SA’s controlled foreign company (CFC) rules will adversely impact South African multinationals with foreign subsidiaries that have assessed tax losses,...
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