Ernst & Young: 2008 Budget Commentary

Click here to read the Ernst & Young budget commentary under the following headlines (PDF file 87kb)

* Granting student loans to needy students now a public benefit activity

* Proposed amendments to STC legislation

* The private sector set to benefit from developing our inner cities for a further five years

* Small and medium-sized businesses

* Shock reduction to corporate tax rates

* Capital distributions under the radar screen again  

* Exchange Control Reform

* Initiatives to increase housing development

* Debt Cancellation between offshore group CFC’S

* Repatriation from foreign cooperatives

* Retirement and Long Term Insurance

* Election for tax free roll-over reorganisation treatment

* Anti avoidance: Arbitrage through closely held companies

* Payroll & Associates Tax Services - Employees have something to look forward to!

* “Greater tax savings on bursary schemes”

* Miscellaneous amendments: Value-Added Tax Act (1991)

* Taxman saves us more on medical aid

* Excise Duties

* The 2008 Budget and Private Equity

* Taxpayers’ (generally expatriates) whose usual place of residence is outside South Africa – additional non taxable benefits for them