Tag: marginal tax rate
Foreign tax credits and rebates – taxpayer treat or trap?
In an exciting recent development, National Treasury published a set of draft Tax and Revenue Law Amendment Bills, together with accompanying Explanatory Memorandums thereto, for public comment. These draft bills contained a host of robust proposed changes to tighten certain loopholes and inconsistencies in South Africa’s tax laws.
The two-pot retirement system – practical and tax implications of withdrawals
With the 1 September implementation deadline looming, South Africa’s ‘two-pot’ retirement reform is fast coming to the boil. While President Cyril Ramaphosa signed the new Pension Funds Amendment Bill, for many employers and labourers there remains much uncertainty. This has prompted us to offer a clear explanation of why this legislation has been drafted but, more importantly, how it will affect employers and employees directly.
Capital gains cannot flow through multiple discretionary trusts
A recent Supreme Court of Appeal (SCA) judgement has clarified that a capital gain distributed from one trust to a second and then to a natural person beneficiary must be taxed in the hands of the second trust, not the natural person.
Myths that employee tax training can instantly dispel
When it comes to employee tax, a little training goes a long way towards restoring productivity. Many employees don’t understand the complex tax calculations payroll applies to their earnings each month and often question these deductions.
Economic freedom of Mauritius explains its current success
Mauritius is of serious significance to countries in the Africa sphere. Its high ranking means that the economy of the country is organised in a manner that brings great benefits to its inhabitants. This island country is ranked 7th out of 162 countries in the Economic Freedom of the World Report 2020.
