Tag: income tax

Let's face it: South Africa's power grid is not winning any awards for reliability. Our data centres are feeling the heat - and not in a good way. These digital powerhouses not only keep our online world spinning but are also fuelling the recent Artificial Intelligence (AI) revolution - yet their ever-expanding capabilities hinge on one critical requirement: an uninterrupted power supply.

It was the late noughties that saw the most prominent emergence of digital tools, which in turn paved the way for a whole new generation of investment companies in the form of online trading platforms. Since then, spurred on by rapid innovation, emerging inventions like cryptocurrency and the speed of its mainstream adoption have put online trading into overdrive.

Mandatory health cover of formally employed is tried and tested and if put to use in South Africa could reduce the public health burden, increase public per capita spend on health, and free up resources that could help address the country’s most pressing health crises.

When we think about estate planning, we think of a plan outlining a tax-efficient way to deal with our assets when we pass away. Instead of viewing this as a ‘death plan’, try to think of it as a ‘life plan’ – a strategy created during your lifetime to ensure that your wishes are fulfilled, and that your loved ones benefit as intended after you pass away.

Determining the right amount of funding a business needs is a common challenge for many small and medium enterprises (SMEs). This is due to several reasons or practical challenges. To begin with, no business is the same. Funding requirements and the use of credit will vary based on business life stage (start, run or grow), operating cycles, growth plans, industry, and market conditions

Accessing the right funding and financing, at the right time, can mean the difference between starting up, staying open, or shutting down. The economy is facing a challenging business environment, with slow global growth, economic volatility, and ongoing power supply issues. This means that many businesses in South Africa are still trying to find their financial footing

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.

With the budget speech being delivered in an election year, I expect to hear populist promises and over-optimism which is geared more to voters than the financial markets. We will need to scrutinise the numbers coming out of the budget very carefully to see if Finance Minister Enoch Godongwana’s budget proposals are viable and achievable given the country’s high debt burden and strained tax base.

Landing in a position of indebtedness to South African Revenue Service (SARS) can be quite a stressful journey on its own; if forgetting to leave room for crypto profits or gain, in your suitcase, the destination becomes all that more daunting.

The draft tax law amendment published in August and targeting foreign employers has inadvertently led to an uproar amongst South African remote workers who fear the law change may disincentivise foreign employers from retaining the services of South African talent.