Cecil Kilpin | March 2022 Newsletter
2022/2023 Budget Highlights The Minister of finance Enoch Godongwana tabled his Budget review on the 23 rd February 2022. The following were the key tax issues arising. Personal Income Tax: Inflationary relief through a 4.5 percent adjustment in the tax brackets and rebates Employment Tax Incentive: Expanded through a [...]
Cecil Kilpin | February 2022 Newsletter
2022 Budget Tips - Make Your Voice Count The Minister of Finance, Mr Enoch Godongwana, will deliver his inaugural National Budget Speech on 23 February 2022. As usual, the budget allocation always aims to strike a balance between competing national spending priorities. It is in this context that Minister Godongwana invites South Africans [...]
Cecil Kilpin | December 2021 Newsletter
A Green Economy In South Africa The South African Department of Forestry, Fisheries and the Environment has defined the green economy in South Africa as “a system of economic activities related to the production, distribution and consumption of goods and services that result in improved human well-being over the long term, while not exposing [...]
Cecil Kilpin | November 2021 Newsletter
Economic Outlook Below is a brief synopsis of the economic outlook as presented at the Medium-Term Budget Policy Statement (MTBPS). The South African economy grew faster than expected in the first half of 2021, but this momentum is expected to wane following public violence in July, port and rail disruptions, and the [...]
Cecil Kilpin | Setember 2021 Newsletter
Medium Term Budget Policy Statement (MTBPS) set for the 4th of November 2021 Newly appointed Minister of Finance, Mr Enoch Godongwana. Will table the MTBPS on the 4th of November at 14h00. The MTBPS sets out the policy framework for the Budget that is presented every February, updates National Treasury's economic forecasts, adjusts [...]
Cecil Kilpin | August 2021 Newsletter
Revising Your Estate Plan While one should review their estate plan annually, here are some key events which should ring a bell for an estate planner to revise their estate plan: Divorce The Wills Act states that except where expressly otherwise provided, a bequest to a divorced spouse will be deemed revoked [...]
Cecil Kilpin | July 2021 Newsletter
SASRIA & Fiscal Budget The South African Special Risks Insurance Association (SASRIA) will form a key part of the intervention to help insured businesses restore their operations. Together with reinsurers, SASRIA has already begun its claim administration process. Pay-outs will be provided to all covered businesses. Crucially, government has decided to provide [...]
Cecil Kilpin | May 2021 Newsletter
Doing Business in South Africa – Our New Normal The economic effects of the coronavirus crisis have been extensive in South Africa (SA) and a recovery to pre-pandemic levels will take several years. While it is forecast that the SA economy will recover marginally in 2021, it is likely to be uneven [...]
Cecil Kilpin | April 2021 Newsletter
Travelers’ Disclosure Requirements Any person travelling in or out of the Republic of South Africa should unreservedly declare: All goods (including goods of another person) upon his person or in his possession which were purchased or otherwise acquired abroad or on any ship, vehicle or in any shop selling goods on which [...]
Cecil Kilpin | March 2021 Newsletter
Asset Tokenization As emerging technologies become more accepted and established throughout society, old problems become solved and new opportunities start to arise. Blockchain has been around for over a decade and has been popularized mostly through its association with cryptocurrencies. Offering numerous benefits, new applications of blockchain are constantly being researched in [...]