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Building a robust estate plan

Investment managers go to great lengths to plan ahead so that investment portfolios will withstand market volatility and unforeseen events. But how do you construct a robust estate plan that will withstand the onslaught of the many legislative changes and punitive taxes introduced in recent years? (more…)

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Cryptocurrencies and tax – what you need to know

By Doelie Lessing, tax director at Werksmans Attorneys. The advent of cryptocurrencies, and in particular the substantial gains that are associated with investments in cryptocurrencies, caught the attention and interest of the world – and not least of all, that of the taxman.  Because where money abounds, tax is normally to be collected.  (more…)

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SARS’ clarity on understatement penalties and consequences for taxpayers

By Brigitte Zegwaard, Senior tax consultant, BDO. On 28 March 2018, SARS released a guide on understatement penalties (the SARS Guide). The SARS Guide is welcomed and provides practical guidance on how SARS determines the amount of the penalty to be imposed and the various factors it must consider when doing so. This is of […]

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Simone Esch, senior tax advisor, Bowmans

New global tax reporting requirements for SA multinationals

By Simone Esch, senior tax advisor, Bowmans Over 100 countries, including South Africa, are implementing stringent new reporting requirements to ensure that multinational companies’ profits are taxed in the jurisdictions where they are generated. Companies affected by the new transfer pricing and reporting requirements should waste no time in ensuring their compliance. South Africa has […]

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Ettienne Bezuidenhout

Moving your Tax-Free Savings Account

Taxpayers who have been diligently using their Tax-Free Savings Account (TFSA) allowance annually can now (since the beginning of last month),  transfer these savings from one provider to another, without it being seen as a new contribution. (more…)

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Consumer compares cost of living between South Africa, Spain and the UK

Panel to be set up to review list of VAT zero-rated food items

The increase in the Value-Added Tax (VAT) rate from 14 to 15% will take effect on Sunday, 01 April 2018 as announced in the 2018 Budget, and all VAT vendors are therefore expected to charge the higher rate of 15% from this date. The National Treasury says that in order to ensure that VAT is […]

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Table 1 - extra

How the VAT increase will affect your next braai

The South African braai – a pastime for all seasons. In our diverse nation, this is truly an activity all can relate to. As we edge closer to 1 April 2018 it seems that this delightful pastime will come at an increased cost.  (more…)

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Sophisticated tax app launches in SA

An advanced tax app named hApp-e-tax has launched, offering everything accountants, auditors, tax practitioners, lawyers, those in business and students need to know about South African income tax legislation. It offers the core information related to the legislation and makes tax information easily accessible. (more…)

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