Welcome to our 2017 Annual Budget Newsletter which we can share with you courtesy of SAICA, the South African Institute of Chartered Accountants. Finance Minister Pravin Gordhan delivered the National Budget Speech during the afternoon of 22 February 2017.
This newsletter contains a consolidated report of his budget speech, as well as commentary by SAICA representatives. We trust that it will be of benefit to you and your company.
You can download the budget speech here.
In difficult economic times one of the last things a business may need is unexpected delays in planned cash inflows. Many businesses have unfortunately experienced this in the form of delayed tax refunds, particularly VAT refunds from SARS.
This article sets out the rules that apply to such refunds in terms of the relevant tax legislation by considering three fundamental questions that are likely to arise.
In the past, coaching was not offered as a benefit but mandated to those who were failing to achieve their workplace goals. The term "coaching" was synonymous with "remedial training" and carried an implication of failure. Fortunately, those days have passed and savvy business leaders and Human Resource (HR) professionals have realised that coaching can be a great benefit for high performers.
The introduction of section 7C into the Income Tax Act is probably one of the most significant changes in the Taxation Laws Amendment Bill for 2016. Without attempting to provide any advice on the matter, as this would depend on the facts of each case, this article provides a high level non-technical overview of the impact of the final version of this provision.