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BOOK REVIEW | The Unlikely Mr Rogue: A Life with Ivan...

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Written by the author of Incorruptible, The Unlikely Mr Rogue: A life with Ivan Pillay is the story of the quiet man behind the so-called ‘rogue unit’ at SARS who has become a lightning rod for so many in politics. It takes the reader on a journey from Ivan’s growing up in Merebank, KwaZulu-Natal, to his politicisation, his friendship with Pravin Gordhan and the story of Operation Vula, which Ivan ran from Lusaka, reporting to Oliver Tambo.

SARS is aware of your offshore assets

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The days where SARS shuts its eyes to taxpayers’ offshore holdings are thing of the past. SARS is finally utilising the Automatic Exchange of Information regime to pin down taxpayers who have not disclosed their offshore interests and numerous taxpayers have already received some alarming notices to this effect.

Tax on year-end gifts for employees

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December has arrived, and with Christmas around the corner, many employers are left in a pickle when deciding on gestures of good faith and appreciation for their employees.

Amend Income Tax Act to encourage local investment in SMEs

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Parliament has been warned of the risk of billions of Rands of capital investment leaving the country unless local investment incentives like those under Section 12J of the Income Tax Act are permitted to continue. Our presentation was made during the Select Committee of Finance’s public hearings on the TLAB, TALAB and Rates Bills.

Times of change for retirement funding

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1 March 2021 marks a watershed for retirement funds in South Africa. Most are focussed on the annuitisation rules that have been pending since 1 March 2015, otherwise known as 'T-day'. While these reforms are significant, retirement fund members need to understand them in the grand scheme of things.

South Africans abroad: SARS show their teeth

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The hotly debated amendment to Section 10(1)(o)(ii) or 'Expatriate Exemption' took effect from 1 March 2020, with the questions on many expatriates’ minds often being 'how will SARS find me? What does the SARS audit of an expatriate look like and what questions should I expect?'

Export taxes – do they make sense for South Africa?

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South African businesses involved in cross-border trading need to be aware of potential export taxes on the horizon. Export restrictions are on the rise, with export taxes becoming more prevalent. It’s important to note that the South African Customs Act has, for the first time, been amended to deal with export taxes.

The impact of retirement reform in South Africa

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Changes to retirement benefits for provident fund members, initially meant to come in five years ago and now scheduled for next March, will see tax uniformity for all who contribute towards retirement. These changes, in terms of the Taxation Laws Amendment Act, will also encourage greater savings, something South Africa desperately needs as it seeks to crawl its way out of an economic hole.

Myths about payroll tax deductions you should be aware of

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Not everything you hear about tax is true. There are many myths and misconceptions about payroll tax in South Africa that simply won’t go away. Let’s look at a few of them and what the tax and labour laws actually say. No matter whether your employer calls what it pays you a salary, overtime or commission, it is taxed at the same rate on the payroll according to the standard PAYE tax tables.

Tax relief for lockdown-trapped expats?

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National Treasury and SARS published their responses on the Draft Taxation Laws Amendment Bill (TLAB), which included potential relief for South African expatriates who were unable to leave South Africa owing to the COVID-19 lockdown.

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