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SARS: ‘Learn from your mistakes; go directly to jail’

29 January 2021 | The Stage

The South African Revenue Services (SARS) has received the green light to criminalise otherwise well-meaning taxpayers for something called negligent non-compliance. In simple language the tax authority could fine or imprison an otherwise law abiding citizen for making an error or mistake on their annual tax return. The handful of citizens applauding this move should reflect on whether their multi-year interactions with SARS are up to code. And that includes the returns filed by tax practitioners on their behalf.

Rule 19 and the replacement advice record

26 January 2021 | Featured Story

Compliance professionals working at / for insurers and financial advice practices have their hands full keeping up to date with the changes introduced under South Africa’s twin peaks regulatory framework. They have to monitor both the Financial Sector Conduct Authority (FSCA) and Prudential Authority (PA) for the publication of amendments, regulations and standards that will have an impact on the financial services providers (FSPs) they serve. They must also ensure that their FSPs are aware of the commencement dates for amendments to existing regulations. These dates are usually set out in a schedule accompanying amendments or new regulations, though it is common to allow the responsible minister to determine the date at a later stage.

Fast-food and the consequences of collective bargaining

22 January 2021 | The Stage

Government’s long-term support of collective bargaining and multi-year wage agreements is under question as the full impact of global pandemic on the domestic economy becomes clear. The first tremors of unease were felt when the minister of finance announced cuts to the private sector wage bill during his February 2020 budget address. He said that the three-year deal concluded with public sector workers in 2018 could not be met and proposed restricting total cost increases for the sector to just 1.8% for 2020/21. Public-sector unions were having none of it. They rejected government’s revised wage offer out of hand and headed to the Labour Court for redress.

The broker’s dilemma

13 January 2021 | Featured Story

A reading of the Western Cape (WC) High Court ruling in the matter Santam vs Ma-Afrika Hotels & The Stellenbosch Kitchen, handed down on the 17th of November 2020, reveals the complex world that commercial short-term insurance brokers face each day. These brokers have been writing business insurance (BI) and contingent business insurance (CBI) policies for over a century without a clear understanding of what these covers entail… And it is not entirely their fault.

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Question

If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?

Answer

2026, as promised 2027 looks more likely Impossible to say More consultation needed

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Conflict of interest at the heart of negative financial outcomes

12 January 2021 | The Stage

2021… respond, recover and thrive

12 January 2021 | Straight Talk

Kidnapping and murder rife in insurance fraud

07 December 2020 | Straight Talk

If you’ve got coal, you’ve got problems ~ Buffett: Solving SA’s power conundrum in an age of clean emissions and climate change

27 November 2020 | Straight Talk

Insurers must pay COVID-19 BI claims

19 November 2020 | Featured Story

What’s inside… FAnews Magazine November 2020

18 November 2020 | The Stage

I am not what I am ~ Iago: New normal dulls the shine of South Africa’s listed real estate sector

13 November 2020 | The Stage

The next big opportunity

11 November 2020 | Featured Story

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