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2018 - 21 Feb 2018

2018 Budget Speech Highlights and 2018/2019 PKF Tax Guide

Finance Minister Malusi Gigaba delivered his maiden 2018 budget speech on 21 February 2018. The highlights of the tax related budget proposals announced by the Minister are as follows:

2017 News - 23 Feb 2017

PKF Tax Guide 2017/2018

The PKF Tax Guide is now available.

2016 News - 12 Sep 2016

SPECIAL VOLUNTARY DISCLOSURE PROGRAMME (SVDP)

As you will recall in the Budget Speech the Minister of Finance proposed a Special Voluntary Disclosure Programme (SVDP) to enable South African resident to regularise foreign exchange transactions and the income tax consequences arising therefrom.

2016 News - 12 Sep 2016

YOUR SME: KING IV CORPORATE GOVERNANCE CODE MAY APPLY TO YOU

The King reports over the last two decades have become locally and globally synonymous with good governance. To date the King Codes have had limited impact on small and medium enterprises (SMEs).

2016 News - 12 Sep 2016

A GOOD NEWS STORY: FARMING IS DOING BETTER THAN WE THINK

One of the stories that underpins the current wave of pessimism around our economy is farming. We read stories about:

2016 News - 12 Sep 2016

BE PREPARED AS GOVERNMENT TAKES AIM AT TRUSTS

For many years government has been hostile to trusts. In the latest draft Bill of 2016 taxation amendments, a provision has been inserted on trusts.

2016 News - 22 Apr 2016

PREPARE NOW FOR LEASING CHANGES THAT WILL IMPACT YOUR BUSINESS

If your accountant uses IFRS (“International Financial Reporting Standards”) in compiling your financial statements, and if you lease assets, then changes are coming that you need to start preparing for.

2016 News - 18 Apr 2016

TAXPAYER BEWARE: SARS CAN NOW UNILATERALLY EXTEND “PRESCRIPTION OF ASSESSMENT” PERIODS

Until the recent change in our tax laws, prescription of assessments (the expiry date of when SARS could still reassess a return submitted) in practically all cases took effect:

2016 News - 18 Apr 2016

HOW MANY DAYS WILL YOU BE WORKING FOR THE TAXMAN THIS YEAR?

A local think tank measures the amount of time it takes for taxpayers to pay their income taxes. In 2016, it will take until 25 May (“Tax Freedom Day”) before taxpayers can earn for themselves – in other words from 1 January to 25 May (146 days) you effectively pay your taxes and from 26 May to 31 December your earnings are your own.

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