Finance Minister Clarifies Monetary Policy Amid SARB Rate Cut. South Africa’s monetary policy landscape shifted this week following the South African Reserve Bank’s (SARB) decision to cut the repo rate by 25 basis points to 7%, the lowest level since 2022. This move, announced by the Monetary Policy Committee (MPC), aims to [...]
SARS Introduces Automated Process for Trust Dispute Resolutions. In April 2024, an automated process for Trust taxpayers was introduced on eFiling to electronically submit documentation to lodge a dispute via a fully guided process. This applies to the following transactions: Submission of Request for Reasons Request for [...]
Donations made to the Solidarity Fund The deduction available for donations increased. To alleviate the cashflow difficulties of employees where their employers contribute to the Solidarity Fund on their behalf, Government is proposing a special relief measure by temporarily increasing the current 5% tax limit in the calculation of monthly PAYE of the employee. An [...]
