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Cecil Kilpin | Further Tax Measures To Combat The Covid-19 Pandemic

By |2020-12-03T06:51:32+02:00Apr 29th, 2020|Business, Finance + Economics, Goverment, Newsletter, Tax, Vat|

  In line with the President’s address to the nation on 21 April 2020, the Minister of Finance has provided more detail on the second set of measures that aim to assist individuals and businesses through the pandemic. The interventions include:     Skills Development Levy Holiday: From 1 May 2020, there will be a four-month holiday for skills development levy contributions Fast-Tracking of Value-Added Tax (VAT) Refunds: Smaller VAT vendors that are in a net refund position will be temporarily permitted to file monthly instead of once every two months, thereby unlocking the input tax refund faster and immediately helping with cash-flow Three-month Deferral for Filing and First Payment of Carbon Tax Liabilities: To provide additional time to complete the first return, as well as cash flow relief [...]

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Cecil Kilpin | February 2020 Newsletter

By |2020-12-03T07:00:45+02:00Feb 27th, 2020|Business, Finance + Economics, Goverment, Newsletter, Tax|

Tax Guide 2020/ 2021: We have recently released our Tax Guide for 2020/ 21 - Download it here. Download 2020 Budget Review “The Aloe Ferox survives and thrives when times are tough. It actually prefers less water. It wins even when it seems the odds are against it. “ Tito Mboweni In a surprise move Minister Mboweni made no dramatic tax proposals to balance the books. In fact a number of proposals will actually reduce personal income tax, and, in the longer term, corporate taxes could be reduced. The budget highlights are as follows: Personal Income Tax: Relief through an above inflation increase in the brackets and rebates Medical Tax Credits: Increase in medical credits Foreign Remuneration Exemption: Exemption will be limited to R1.25m from [...]

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Cecil Kilpin | May 2019 Newsletter

By |2019-05-24T16:52:55+02:00May 24th, 2019|Accounting, Business, Finance + Economics, Goverment, Newsletter, Tax|

Carbon Tax – How does it affect your business? With the imminent introduction of Carbon Tax, it is important to know how this will affect your business. While your business may not be directly affected by the tax, your suppliers may well have to pass on additional costs incurred as a result of it. So, let’s explore who and what will be subject to the tax. Persons subject to tax: Liability for the tax arises for every entity that conducts an activity and emits GHG emissions above the threshold for the following activities: the Energy Sector (such as fuel combustion activities, petroleum refining, civil aviation, pipelines etc.). the Industrial Processes and Product Use Sector (such as cement production, lime production, Nitric acid production, ceramics, Refrigeration and Stationery Air Conditioning). the Agriculture, [...]

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Cecil Kilpin | March 2019 Newsletter

By |2019-03-29T14:15:12+02:00Mar 8th, 2019|Accounting, Business, Finance + Economics, Goverment, Newsletter, Tax|

Corporate Governance and The Prescribed Officer Corporate governance is under scrutiny like never before in South Africa. While most people believe that it is only appointed directors of a company who can be held personally liable, the Companies Act provides for a wider definition and includes Prescribed Officers. A Prescribed Officer is a title created by the 2008 Companies Act and is anyone who fulfils the role of a director but who is operating (intentionally or otherwise) under a different designation. Regulation 38 states that, despite not being a director of a particular company, a person is a “prescribed officer” of the company for all purposes of the Act, if that person: Exercises general executive control over the management of the whole, or a significant [...]

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Cecil Kilpin | November 2018 Newsletter

By |2018-11-20T11:52:07+02:00Nov 2nd, 2018|Business, Finance + Economics, Goverment, Newsletter, Tax|

The 17 Sustainable Development Goals (SDGs) The 17 Sustainable Development Goals (SDGs) of the 2030 Agenda for Sustainable Development were adopted by 193 world leaders in September 2015 at the United Nations General Assembly: “Transforming our World: the 2030 Agenda for Sustainable Development” [known as Agenda 2030]. They officially came into force on the 1 January 2016. South Africa is one of the member states of the United Nations. The 2030 Agenda consists of four parts: Vision and principles Goals and Targets Means of implementation Follow up review mechanism Vision and principles: Countries that have committed to the 17 SDGs have until 2030 to achieve 3 overarching goals which underpin the Agenda. They are: To end extreme poverty To fight inequality and injustice To fix climate [...]

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Cecil Kilpin | October 2018 Newsletter

By |2018-10-19T09:58:32+02:00Oct 12th, 2018|Accounting, Business, Finance + Economics, Goverment, Newsletter, Tax|

Medium Term Budget Policy Statement (MTBPS) Nhlanhla Nene is the first victim of the “State Capture Enquiry”. Just twoweeks before presenting a critical MTBPS, he resigned after a massive public backlash regarding his initial non-disclosure regarding his meetings with the infamous Gupta family. His replacement, Tito Mboweni, has been well received by the markets and public in general. It would appear that his appointment will be positive for South Africa’s economic recovery , and we look forward to his budget speech presentation on the 24th October . While it appears a short time for him to pre-pare, Treasury has a contingent of experts who have prepared the necessary budgets in line with government policy. Minister Mboweni should slot in with ease! Fast facts on Tito [...]

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