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Medium Term Budget Speech 2013

28 October 2013 | Tax

The Minister has delivered his medium term budget speech for 2013 the content of which was as expected.

Taxpayer – choose your weapon carefully

28 October 2013 | Tax

The Pretoria Tax Court made an interesting ruling in Income Tax Case No 1866 75 SATC 268.Section 32(1) of the Value-Added Tax Act, No 89 of 1991 (VAT Act) states that the following decisions of the South African Revenue Service (SARS) are subject to objection and appeal, namely:

SARS and your bank account

28 October 2013 | Tax

On 29 February 2012, the South African Revenue Service (SARS) issued a notice in Government Gazette No 35090 (Notice No 173) relating to the liability of certain institutions, most notably banks, to furnish SARS with financial information about taxpayers.

Proposals to the tax treatment of individual–based insurance policies to be delayed by a year

25 September 2013 | Tax

Treasury’s decision to postpone the implementation of the individual-insurance policies tax reforms is welcomed by major stakeholders.

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Are financial advisers ready for the combined impact of COFI and AI?

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Yes, fully prepared and already adapting Somewhat prepared, but still facing implementation challenges Not yet prepared, more time and support needed Unsure / still assessing the impact

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