SARS pays back R10bn, but some taxpayers’ refunds are being withheld

Taxpayers should inform SARS if they have been unemployed for a full year or longer, to avoid being flagged as non-compliant.

T20 World Cup awaits and Super 18 thoughts

And off they go Somehow, losing the T20 series against Australia was not such a gut-wrenching experience as defeat against our favourite foe normally is. In a way, it was more like trials […]

Healthcare Commission under the Spotlight

According to an article in Netwerk24, the panel who is currently conducting research on private healthcare posed a number of questions regarding the impact of commission on rising costs, including how commission works, […]

Surveys show bleak picture

It should come as no surprise that executives of South African companies are less optimistic today, compared to a year ago. A recent survey by Mercantec reveals the CEOs in the financial services […]

FIC and Motor Vehicle Dealers

The Financial Intelligence Centre (FIC) has revised Public Compliance Communication 07 (PCC07) to explain the duties of motor vehicle dealers when reporting cash transactions of more than R24 999.99 to the FIC. The Centre […]

Genesis Appeal Denied

LegalBrief Today commented as follows on the outcome of the Scheme’s application for leave to appeal against an SCAS finding. In what a Business Day report says is a decision that has far-reaching […]

FIC announces new registration system

The Financial Intelligence Centre (FIC) is preparing to launch a new registration and reporting system called goAML at the end of April 2016. New Registrations The last day for an accountable and reporting institution […]

FICA Inspection Feedback

In 2014, the four major banks were fined a collective R125 million for failing to implement adequate anti-money laundering controls. The Financial Intelligence Centre does not only focus on them, though. FAIS Newsletter […]

Protea selectors face nice dilemma

Imran Tahir’s timely return to form is great news for the Proteas. With spin bowling such an important element in the bowling attack, it is doubly reassuring, given the problems poor old Aaron […]

South Africa Investment Panorama Survey

Join the debate and receive a free guide ‘How to use Social Media to enhance our reputation and win new business’ We are excited to again be part of a project to support […]

FPI Approved Qualifications from MBSE

The Financial Planning Institute provides its members with a list of approved training providers. Moonstone Business School of Excellence (MBSE) is one such provider who complies with the FPI’s requirements in terms of […]

Compliance is no longer about “Ticking the Box”

FAIS Newsletter 19 contains an article on this subject: During November 2015, the Registrar imposed a fine of R150 000 against a FSP for failure to observe section 2 of the Code. The FSP kept […]

Discount for Burglar Alarm

An interesting case was published in the December Short-term Ombud’s Briefcase. Mr. J submitted a claim against his insurer for contents stolen from his home during a burglary. The insurer rejected the claim […]

Unjustified Fees

The charging of “broker” or “policy” fees (section 8(5) fees) in the Short-term industry appears to be a common occurrence. The Regulator frowns upon unjustified fees, and it will be addressed under RDR. […]

A Greener South Africa

A Greener South Africa – Why opt for nuclear power when Mother Nature already provides the answer in abundance? The January 2016 edition of Country Life carried an article titled Solar Karoo about Kalkbult, near […]

Provident Fund Decision Overturned

An apparently hastily scribbled note from National Treasury titled, Proposal on Postponing the Annuitisation Requirement for Provident Funds for Two Years, confirmed industry concerns that the Taxation Laws Amendment Act, which was promulgated […]

Social Grants and Funeral Insurance Premiums

The government proposes to amend regulations concerning deductions from social assistance grants by making an affordability assessment a prerequisite to entering into any agreement to provide funeral cover to the beneficiary of a […]