Thursday briefing: a round-up of recent financial services news
New limits for allowances | Grey-listing will last ‘for years’ | Grey-listing, blackouts ‘eroding SA’s status’ | Rand manipulation case.
Conventional wisdom says that living expenses rise uniformly with inflation, so many financial plans are based simply on that. But analysing the spending patterns of retirees shows us that the data tells a different story.
Read moreNew limits for allowances | Grey-listing will last ‘for years’ | Grey-listing, blackouts ‘eroding SA’s status’ | Rand manipulation case.
Sars publishes a list of the additional information that must be included on the receipt.
UT managers fight for market share | Coronation faces huge tax bill | MyMo accounts scandal | Insurance fraud | Discovery’s interim profits
It also wants to address the inconsistent treatment of non-resident beneficiaries when capital gains are distributed.
How the limitation on setting off assessed losses against taxable income affects life insurers and policyholders.
What tax professionals should do if they unintentionally find themselves on the wrong side of Sars.
Edward Kieswetter also shares his views on tax breaks for home electricity generation and a wealth tax.
Taxpayers should formulate comprehensive grounds of objection and appeal from the beginning of the dispute resolution process.
Coronation illustrates how you can use a tax-free investment to harness the power of compounding.
Taxpayers should take note of the period within which they must submit a full and true return or relevant material.
Withdrawals from the savings and retirement pots will be taxed in different ways.
Check whether you meet the definition of a provisional taxpayer.
The Supreme Court of Appeal and the SA Revenue Service have different views on what exactly this term means.
The VDP allows taxpayers to come clean on non-compliance that may lead to penalties discovered by Sars.
Companies that incur finance charges should also take note of a recent court case regarding the tax treatment of related or similar finance charges.
It’s possible that, at some point, providers of crypto asset services will be required to submit third-party data to Sars.