Tax Breaks Newsletter - Volume 2015, Issue 348, 2015
Volume 2015, Issue 348, 2015
Source: Tax Breaks Newsletter 2015, pp 1 –2 (2015)More Less
South Africa does not have the scope to increase corporate tax rates, a new survey suggests. Finance minister Nhlanhla Nene is under pressure to find ways to increase tax revenues to reduce South Africa's budget deficit and keep rating agencies at bay, but with economic growth now expected to reach a meagre 1.4% for 2014, any potential tax hikes would need to be implemented with care.
Source: Tax Breaks Newsletter 2015, pp 3 –4 (2015)More Less
Regular readers of Moneyweb's Tax Breaks may be forgiven for thinking that the long arms of SARS is so far-reaching that they shouldn't breathe too loudly, in case SARS comes along to tax the air. It's not quite that bad, but just about any amount that you earn is subject to some or other form of tax.
Source: Tax Breaks Newsletter 2015, pp 4 –5 (2015)More Less
Source: Tax Breaks Newsletter 2015, pp 5 –6 (2015)More Less
What is a trust? The answer may seem obvious, but in practice many people get confused as to exactly what a trust is, and what such a structure is meant for. In this article, we examine the various types of trust recognised under the South African common law, as well as where the Income Tax Act fits in.
Source: Tax Breaks Newsletter 2015, pp 6 –7 (2015)More Less
SARS is flexing its muscles to preserve assets to ensure tax collection, a tax expert says. Arguably the most widely reported preservation order handed down over the past year has been for the preservation of Mark Krok's assets. Krok is a former South African businessman. This followed a request from the Australian Taxation Office, and effectively secured all Krok's assets to the value of R297 million for the collection of unpaid tax debt of R249 million owed to the Australian Taxation Office.
Source: Tax Breaks Newsletter 2015, pp 7 –8 (2015)More Less