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Categories
Tag Archives: South Africa
What lies ahead for SA’s budget?
On 24 February 2021, Finance Minister Tito Mboweni will deliver the annual budget address shortly on the heels of the State of the Nation Address a week earlier by President Cyril Ramaphosa. Given the expected R700 billion budget shortfall for the current cycle, Minister Mboweni will … Continue reading
Posted in Tax
Tagged Budget, Expectations, South Africa
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What you need to know about tax and work travel allowance in South Africa during Covid-19
Covid-19 has far-reaching effects for the South African taxpayer and, unbeknown to many, may be silently increasing their tax liability for the 2021 year of assessment. There is a causal link between travel allowances (and the same applies to company … Continue reading
Posted in Tax
Tagged COVID-19, South Africa, Tax, Travel
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Government increases tax-free cap on foreign income
The concept of emigration is to be replaced by a verification process. South Africans who are working and living abroad have been given some relief with a slight increase in the tax-free cap on their foreign earnings. National Treasury introduced … Continue reading
Posted in Tax
Tagged Foreign Income, South Africa, South African Reserve Bank, Tax, Taxpayer, Working Abroad
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The relationship between audit quality and audit fees
Due to recent high-profile corporate failures in South Africa, questions are being asked about the relationship between auditor independence, the amount of fees and audit quality. There is a perception in various circles that lower audit fees equate to lower … Continue reading
Posted in Finance
Tagged AQIs, Auditor, Finances, IRBA, South Africa, the Companies Act
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Budget 2020 highlights
“Ex Africa Semper aliquid novi,” winning requires hard work, focus, time, patience and resilience. Finance Minister Tito Mboweni delivered his National Budget Speech on 26 February 2020, leaving South African taxpayers pleased by the implementation of tax relief on personal income … Continue reading
Posted in Tax
Tagged Budget speech, Budget Speech 2020, Finances, SARS, South Africa, Tax, VAT
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SARS scams
Education and awareness around identity theft, phishing and other frauds have become part of life globally. If nothing else, scamsters are innovative and keep trying new avenues of defrauding businesses and individuals. In South Africa, this is no exception, and … Continue reading
ARE YOU A SOUTH AFRICAN TAX RESIDENT INDIVIDUAL?
The question of tax residence for individuals has always been relevant in South Africa. It appears as though we find ourselves in a country which has always been a popular destination to which people from across the globe flock to … Continue reading
Posted in Tax
Tagged Resident, South Africa, Tax
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SA ECONOMY: 2015 IN REVIEW
South Africa has a host of appealing competitive advantages. It remains the continent’s second-largest economy – benefitting from a large manufacturing base, more than $2.5trn worth of metal and mineral deposits, and one of the most robust financial sectors in … Continue reading