Retirement Annuities: The new trust
The advantages of Retirement Annuities when compared to that of the Trust confirm that should a trust not be the best suited vehicle, an RA can be the second best.
The advantages of Retirement Annuities when compared to that of the Trust confirm that should a trust not be the best suited vehicle, an RA can be the second best.
The 2018 Budget Speech confirmed South Africa’s commitment to ending tax avoidance and its impact on economies and societies worldwide.
Next up for South Africa’s increasingly desperate fiscus is around R40bn “lost” through items that are VAT zero rated.
Just when wealthy South Africans thought they’d absorbed all the blows, hidden in the fine print of SA’s Budget 2017 was a bombshell that is about to hit creators of offshore trusts really hard.
Pravin Gordhan has warned that legislation is in the offing to ensure that Saffers in, say, tax-free Dubai, will be liable to pay SA tax rates on earnings in the same way as they would had they earned the money in SA.
National Treasury and SARS recently published a discussion paper for public comment which sets out proposed options for an improved Diesel Fuel Refund Tax System.
A tax free savings account is a very important and under-used investment vehicle, especially as the growth in the investment attracts no tax.
There was precious little in the Budget to assist in growing the economy by way of a reduction in tax rates or incentives to excite local or foreign investors.
A bombshell hidden in the detail of the 2017 Budget review relates to the taxation of offshore trusts.
SARS will use the County-by-Country Report to identify high-level transfer pricing risks and other BEPS related risks in South Africa.