Tax Breaks Newsletter - Volume 2015, Issue 354, 2015
Volume 2015, Issue 354, 2015
Source: Tax Breaks Newsletter 2015, pp 1 –2 (2015)More Less
This article was originally published in the January 2012 issue of Moneyweb's Personal Finance, but has been updated to take into account the current (2015/16) tax tables.
A favourite mantra of many investment advisors is 'diversification', which is a fancy word for what your grandmother would call "not putting all your eggs in one basket". Simply put, there are different types of investment markets (equities, property, bonds, cash, etc.) whose movement is driven by different factors, so in order to reduce one's risk it is usually considered prudent to have a portion of your money invested in various different assets.
Author Gerhard BadenhorstSource: Tax Breaks Newsletter 2015 (2015)More Less
The SA Red Cross Air Mercy Service Trust ('the Trust') approached the High Court for a declaratory order regarding the VAT status of payments that it receives from the health departments of provincial governments to provide air rescue services as and when required. In its judgement delivered on 6 May 2015, the High Court found in favour of the Trust that the payments qualify for VAT at the rate of zero per cent.
Source: Tax Breaks Newsletter 2015 (2015)More Less
The way that the tax table for individuals is structured is often cause for consternation, not only for those who receive year-end bonuses, but particularly for individual taxpayers who receive income from multiple sources. Those impacted most are pensioners, who may have annuity or investment income in addition to their normal pensions.
Author Beric CroomeSource: Tax Breaks Newsletter 2015, pp 4 –6 (2015)More Less
A taxpayer who receives an assessment from the SARS Commissioner with which they do not agree, is entitled to lodge an objection against that assessment, and Chapter 9 of the Tax Administration Act No. 28 of 2011 ('TAA') regulates procedures relating thereto. Taxpayers also need to be mindful of the rules governing objection and appeal promulgated under Section 103 of the TAA, which sets out in greater detail the steps to be followed in the objection and appeal process.
Author Madelein Van der WattSource: Tax Breaks Newsletter 2015, pp 6 –7 (2015)More Less
By starting a business, you're helping to create jobs, contributing towards skills development, and even inspiring other entrepreneurs. However, it's important to get your SARS red tape in line right from the start, if you want to avoid problems and penalties with the tax authorities later down the line. This overview sets out the basics of employees' taxes - an area where you have no margin for error.
Author Rene VollgraadSource: Tax Breaks Newsletter 2015 (2015)More Less
Author Amanda VisserSource: Tax Breaks Newsletter 2015 (2015)More Less