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Categories
Monthly Archives: November 2017
Your Tax Deadlines for November and “Watch Out, SARS is On The Warpath!”
Non-provisional taxpayers using eFiling or electronically submitting from a SARS office need to file their 2016/2017 Income Tax Returns on or by 24 November. Secondly, tax compliance levels are slipping and SARS is planning to aggressively counteract this, noting that … Continue reading
Posted in Tax
Tagged Income Tax Returns, SARS, Tax
Comments Off on Your Tax Deadlines for November and “Watch Out, SARS is On The Warpath!”
Disappointing – SA Slips Down the World Competitive Index
Every year we report on the World Economic Forum’s (WEF) Global Competitiveness Index. This year South Africa slipped from 48th to 61st in the rankings. What was disappointing is that previously we were ranked 3rd in terms of corporate efficacy … Continue reading
Posted in Economy
Tagged Economy, WEF, World Economic Forum’s
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The Latest on the SVDP
Access to the Special Voluntary Disclosure Program (SVDP) closed at the end of August 2017 and the government netted a little over R1 billion. There were two thousand applications for this amnesty. Whilst this is not the final amount as … Continue reading
Posted in Tax
Tagged Special Voluntary Disclosure Program, SVDP, Tax
Comments Off on The Latest on the SVDP
SMEs Beware: POPI is Finally Becoming a Reality
“Forewarned is forearmed” (wise old proverb) The Protection of Personal Information Act (POPI) has been in the public domain for several years and has been enacted into law, but its enforcement provisions are not yet in effect. The appointment of … Continue reading
Posted in Protection
Tagged Personal Information, POPI, Protection
Comments Off on SMEs Beware: POPI is Finally Becoming a Reality
How are We Doing on the “Better Life Index”?
Since the introduction of double entry bookkeeping in the fifteenth century, it has been widely accepted that profit equates to value. This concept moved to nation states and today we measure how well a country is doing by its Gross … Continue reading
Posted in Economy
Tagged Better Life Index, GDP, Organisation for Economic Cooperation and Development
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Tax on Offshore Income – A Change in Plan
SARS recently issued a draft Tax Bill which proposed taxing South African residents the difference in taxation on offshore income earned. Thus, if 10% tax was paid on overseas income then the taxpayer was liable to pay what would have … Continue reading
Posted in Tax
Tagged Income Tax law, SARS, Tax
Comments Off on Tax on Offshore Income – A Change in Plan
Climate Change: Make Sure Your Home is Correctly Insured
TV and other media have extensively covered natural disasters recently – fires in Knysna, storms and floods in Gauteng and KZN and then more fires along Table Mountain. There is now no doubt that these events are occurring more frequently … Continue reading
Posted in Insurance
Tagged Climate change, Insurance, Natural disasters
Comments Off on Climate Change: Make Sure Your Home is Correctly Insured
Inflation’s Different Effects on Different Income Groups: The Danger for South Africa
Each month Statistics SA releases the inflation figure (CPI). Currently it is 5.9% which is a considerable improvement on February’s 7%. What is interesting is the CPI figure is a composite of five quintiles of income groups – from the … Continue reading
Posted in Budget
Tagged CPI, Inflation, Statistics SA
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The Special Voluntary Disclosure Programme Begins – What’s Changed?
We recently discussed the Special VDP which lets non-compliant taxpayers voluntarily disclose offshore assets and income in order to regularise both their tax and exchange control affairs. As promised, here is an update for you on current changes to the … Continue reading
Are You Struggling to Get Your Tax Refund?
There is a feeling that taxpayers are getting fed up over the amount of tax they have to pay. Add to this the adverse publicity SARS has received as one of the focal points of the current political struggles and … Continue reading