Tax/Financial Planning News

NON-EXECS, PAYE AND VAT: SARS PROVIDES CLARITY

Historically, it was unclear whether amounts paid to a non-executive director were subject to the deduction of employees’ tax and whether the prohibition against certain deductions by salaried employees applied to them. This being as a result of a non-executive directors arguably not earning remuneration as defined in the 4th Schedule to the Income Tax …

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New Financial Developments in the Pipeline after the Budget Speech

1. Outward Remittances The Government is well aware of how expensive it is to remit funds abroad from South Africa. In response, Treasury will conduct some reforms, to apply, which, together with more competition and exemptions in the Financial Intelligence Centre Act (2001), should hopefully reduce the compliance burden for low-risk remittances and bring lower …

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Medium Term Budget Statement

Whilst political opportunism, some would argue, delayed the Minister of Finance, Nhlanhla Musa Nene, from delivering his medium term budget statement in parliament in October 2015, the Minister eventually had an opportunity to address parliament. Amidst the building chaos outside of the parliament building and the weakening rand, the Minister announced a few important and …

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How to Hire a Financial Advisor Who Won’t Rip You Off

Let’s face it: as a general populace, we aren’t great at managing money. But it’s no wonder why: From taxes to investing to debt-busting, there’s a lot that goes into financial planning. And while we’re all for learning to do it yourself, there are a number of reasons you’d enlist the help of an advisor. …

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