New dividends tax system – companies need to get to know their shareholders

Companies can expect to face an administrative burden in the light of the new dividends tax system to be implemented on 1 April, says Professional Services Firm PwC. “Organisations such as long-term insurers and collective investments schemes will be faced with the onerous task of administering and collecting the new tax”, says Charl du Toit, […]

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Critical for Budget speech to address NHI funding concerns

One of the much anticipated elements of this week’s National Budget speech is how the government plans to fund its National Health Insurance initiative, particularly with this year’s allocation already showing a shortfall from what was originally announced. This is according to Clayton Samsodien, Managing Director of Genesis Capital Group’s health care subsidiary – Genesis […]

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Sin taxes we’d like to see

By Bernard Sacks, Tax Partner, Mazars No doubt the Minister of Finance will once again find ways to increase the taxes on tobacco and alcohol, but why stop at these particular toxins, when there are so many others that are just as harmful? Take animal fat, for example, a major contributor to obesity and heart […]

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Pre-Budget speech outlook

• Wealth tax – possible • Increased excise taxes – almost definitely • Hiked fuel levy – yes • Increased VAT and company tax – unlikely • Increased electricity levy – likely • Very little fiscal drag relief for individuals (tax cuts)   Johann Els, senior economist at OMIGSA doesn’t think there will be any […]

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Outstanding Budget items that could be included in 2012

Several outstanding items from previous Budgets that haven’t seen the light of day could be included in 2012. In the 2010 Budget speech, for example, there was a brief mention about the estate duty system and its cost to SARS in light of its limited benefits. Estate duty represents only about 1% of SARS’ revenue […]

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Discipline and clarity key for Budget 2012

In the face of credit rating agencies threatening to downgrade South Africa’s debt ratings, it is incredibly important for the government to commit to a prudent and disciplined Budget in 2012. This is one of the most critical priorities for a Budget that seeks to be sustainable, says AJ Jansen van Nieuwenhuizen, Head of Tax […]

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Local fund managers view 2012 in slightly more bullish light

Local fund managers are more bullish about the prospects for the South African equity market, driven largely by optimism for financials and resources. This is one of the general findings of Investment Solutions’ first fund manager survey for 2012. The survey, conducted amongst 15 South African fund managers every six months, aims to gauge fund […]

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Budget 2012 – the challenge of balancing growth and fiscal responsibility

By Professor Andre Roux, Director: Institute for Futures Research, University of Stellenbosch Business School (USB) The 2012 Budget Speech, to be delivered by Minister of Finance Pravin Gordhan next week, is likely to be the most challenging budget delivered in over 20 years. Amid widespread economic turmoil, the key challenge will be to bridge the […]

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Budget 2012 predictions – taxation on retirement savings

By Rowan Burger: Head of investments strategy from Liberty Retail SA We do not expect any formal changes to the taxation system on retirement savings. The reasons for this are; the complications in dealing with the implementation of a national social security system and, the unintended consequences this may create. The one change that may […]

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2012 Budget predictions – hoping for confirmation of tax deductibility of contributions

By Geraldine Macpherson, Senior Legal Specialist at Liberty Retail SA The budget speech which is to be presented on 22 February is a much anticipated event, not least of all from a financial planning perspective. We eagerly await the potential planning opportunities it may present and secretly dread any changes which may impact negatively or […]

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