Employer Annual Declarations (EMP501): 1 April to 31 May 2024. As an employer, it’s essential to stay informed about your tax obligations. The Employer Annual Declaration period is a crucial time when you need to submit accurate information to the South African Revenue Service (SARS). Let’s dive into the details: [...]
Budget 2024/ 2025 Scheduled for February 2024. The minister of finance will table his budget proposals on February 28th, 2024. Some of the key predictions on the back of an election year are as follows: Interest Rates: There is speculation that the South African Reserve Bank (SARB) will [...]
Beneficial Ownership. CIPC (Companies and Intellectual Property Commission) is an agency that regulates the registration and compliance of companies and intellectual property. One of its functions is to keep a register of beneficial ownership (BO) for companies and close corporations. A beneficial owner is a natural person who ultimately owns [...]
What You Need to Know About Living Wills. A living will is not the same as a last will and testament. A living will is a document that lets you express your preferences for medical care in case you become unable to communicate them yourself. A living will can help you avoid unwanted [...]
New Chief Director of Tax Policy at the Ministry of Finance. Ms Yanga Mputa has been appointed as the new Chief Director of Tax Policy at the Ministry of Finance. Ms Mputa has a wealth of experience in tax administration and policy, having served as a senior manager at the South African Revenue Service [...]
Overview of Monetary Policy Committee Statement. High inflation and weak economic growth continue to shape global conditions alongside monetary and fiscal policy responses. Russia’s war in the Ukraine drags on, impairing trade and raising prices of a wide range of energy, food and other commodities. Growth in the United States is set [...]
WHO NEEDS TO DO ESTATE PLANNING? Many may think that they are not old enough or wealthy enough to warrant doing any estate planning. However, if a person is over the age of eighteen, no matter how small his estate is, it is advisable to begin the process. All persons 16 years [...]
Wealth Tax to fund Basic Income Grant (BIG)? There have recently been calls for a wealth tax to fund BIG. While it is readily acknowledged that South Africa is the most unequal society in the world, The implementation of a wealth tax is not that easily achieved. The Davis Tax Committee in [...]
Environmental, Social and Governance (ESG) versus Friedman Doctrine and the SME The Friedman doctrine is a theory advanced by economist Milton Friedman which holds that the social responsibility of a business is to increase its profits. This approach views shareholders as the economic engine of the organization and the only group to [...]
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 [...]
