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Personal Income Tax Rates and Rebates: Unlike previous years, where payroll administrators rushed to implement new tax tables and rebates before 1 March for the new individual fiscal year, 2024 brings a relaxed rollover. No changes have been proposed to personal income tax brackets, rebates, and...
Section 45 of the Income Tax Act (ITA) offers roll-over relief for intra-group transactions, deferring any income tax consequences from asset transfers between group companies. However, subsection 45(4) of the ITA includes provisions for a claw-back of deferred income tax under specific...
The impending implementation of a global minimum corporate tax rate of 15% is poised to significantly reshape South Africa's corporate tax landscape and fortify its tax base.
In the recent Budget Speech, the Minister of Finance made it clear that there will be no adjustment to the tax brackets, rebates, and medical tax credits applicable to individual taxpayers. But what does this mean for you? Does it imply that you will not be worse off, come 1 March 2024?
South Africa’s GDP growth averaged less than 0.8% in the last ten years. The weak growth rate is attributable to various reasons, but a handful stands out. The Government’s failed infrastructure maintenance and the obvious reason, electricity, resulted in a lack of private sector and investor...
We appreciate the comprehensive nature of the proposed amendments, all of which hold relevance. However, certain topics have caught our attention due to their impact on affected vendors.
In the recent Budget Speech, the Minister addressed both the successes and concerns flowing from tax incentives, shedding light on several key points.
As we anticipate Minister of Finance Enoch Godongwana's upcoming national budget speech, it's crucial to analyse key factors that will shape South Africa's economic trajectory. The budget isn't just about numbers on a spreadsheet
As the country gears up for the National Budget Speech on 21 February, renewable energy is set to be high on the agenda for discussion. Nato Oosthuizen, Partner and Renewable Energy Expert at BDO, reflects on the solar tax breaks tabled at last year’s speech and questions