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Mid-term budget speech 2017 ‘lacked concrete steps’

Treasury has not given a clear enough indication on how it intends to address its revenue shortfall, leaving experts to speculate that the majority of revenue will be financed by taking on additional debt. (more…)

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Tax transgressions and pitfalls

SARS is committed to stamping out tax crime in South Africa, according to Ilsa Groenewald, Associate Director for tax at the Durban office of BDO South Africa, the audit, advisory and tax firm. Here, she reviews tax morality, common transgressions, and pitfalls. (more…)

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S&P downgrades SA to junk status

On April 3, 2017, S&P Global Ratings lowered the long-term foreign currency  sovereign credit rating on the Republic of South Africa to ‘BB+’ from ‘BBB-‘ and the long-term local currency rating to ‘BBB-‘ from ‘BBB’. (more…)

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Richard Carter_1-1

Bracket creep hits low to middle income earners

The 2017 Budget had some surprises, especially for the wealthy, with steep increases in income tax and dividend withholding tax. But the silent tax increase is the one to worry about. (more…)

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Sharon Machutchon Tax Consultant at Mazars1

How Treasury plans to take the money you earned overseas

The latest plans to tax overseas income could negatively affect the careers of many South Africans, according to Sharon Machutchon, Tax Consultant at Mazars. (more…)

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Minister of Public Enterprises, Pravin Gordhan

The confusion around dividend withholding tax

In the 2017 Budget Speech, Finance Minister Pravin Gordhan announced an increase in the dividend withholding tax rate (DWT) from 15% to 20%, a measure which could have a far-reaching impact not only on the corporate community, but also on the South African economy. (more…)

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Unpacking the 2017 Budget Speech for your business

In the midst of a fluctuating rand and an economy in need of resurgence, Minister Pravin Gordhan provides a glimmer of hope to businesses against the backdrop of an already slow growth economy. FNB Business experts share their views on the Budget speech. (more…)

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pravin prize 2

Top Economics Students Honoured

Business and government leaders last night celebrated the brilliance and promise of South Africa’s young economics students – finalists of the annual Nedbank and Old Mutual Budget Speech Competition – at a dinner hosted by Nedbank and Old Mutual, with Finance Minister Pravin Gordhan as guest of honour. (more…)

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