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Relaxation of loop structures – but at what tax cost?

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The envisaged future relaxation of the prohibition on 'loop structures' will be accompanied by amended tax laws, but current proposals are likely to result in more tax on certain structures. National Treasury has proposed a number of amendments to tax legislation as a result of the potential future relaxation of the SA Reserve Bank's current prohibition on so-called 'loop structures'. 

PODCAST | Important court win for small business owner against SARS

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An interview with Jean-Louis Nel, Tax Attorney, Tax Consulting SA, and Dr Ivor Blumenthal, CEO, ArkKonsult, discussing how the Pretoria High Court granted a small business owner an urgent basis for relief against SARS who depleted his bank account without following due process.

Important court win for small business owner against SARS

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Earlier this month, the Pretoria High Court granted a small business owner an urgent basis for relief against the South African Revenue Service (SARS) who depleted his bank account without following due process. The court ordered SARS to set aside the third appointment of Absa who collected R1.3 million on behalf of SARS from the taxpayer’s bank account in terms of Section 179 of the Tax Administration Act (TAA).

PODCAST | VAT – your key to unlocking the COVID-19 cashflow...

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An interview with Kevin Black, Director, VAT Claims International, and Dr Ivor Blumenthal, CEO, ArkKonsult, discussing how COVID-19 and the lockdown has severely impacted business cash flows. Surviving the shock is challenging the resilience of enterprises and executives.

VAT – your key to unlocking the COVID-19 cashflow crunch!

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The impact of COVID-19 and the lockdown has severely squeezed business cash flows. Surviving the shock is challenging the resilience of enterprises and executives alike. How management adapts will test their agility and resourcefulness. If not enough is done, the very survival of the business will be at stake.

Budget 2020: High Noon – ratings and bailouts

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Budget statements have in recent years perennially made downward revisions in economic growth projections. Disappointing growth outcomes compared to official forecasts is partly attributed to the inability to implement planned structural reforms that would have delivered improved growth outcomes.

BOOK REVIEW | Financial Calculations and Worksheets 4th edition

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Keeping up to date with legislative and case law changes in the highly regulated financial services industry can be challenging. Professionals need to make effective financial decisions, with a myriad of implications, while ensuring regulatory compliance and keeping current.

Businesses need to think local and start small

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Stats SA recently announced that South Africa’s unemployment rate increased by 0,1% to 29,1% of the population in the third quarter of this year. While this figure is at an all-time high since 2008, it is unrealistic to expect our government to reduce these statistics on their own.

Trusts still relevant for asset protection, estate planning and retirement planning?

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A trust is a legal arrangement, where assets are held by one party (the trustee) for the benefit of another (beneficiary) as instructed by the owner (trustor/settlor). Recently many people have started to question the usefulness of trusts, given that the tax benefits afforded to trusts in the past, have eroded over time.

Mistakes to avoid when submitting your personal tax return

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You, as the taxpayer, are responsible for declaring the correct information to SARS and will face the consequences if you don’t. Ensure that your tax practitioner declares all income by providing all the correct information to him or her.

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