Two retirement pots: Limited access, compulsory preservation
Is the proposed two-pot retirement system ‘stirring the pot’ in the retirement fund industry? The Draft tax legislation released by National Treasury on 29 July 2022 contains details of the much anticipated two-pot retirement system. The proposed changes are quite far-reaching—although there will also be criticism that the changes do not go far enough. The […]
New tax legislation for businesses
Finance Minister Tito Mboweni delivered his third annual budget address on 24 February 2021. The corporate tax rate reduction from 28% to 27% for years of assessment commencing on or after 1 April 2022 was arguably the most significant windfall for corporate taxpayers, although the actual cash benefits thereof will only be seen in the 2023 calendar year. Below, we highlight some of the other significant proposals, which […]
Budget 2021: Corporate tax amendments
Finance Minister Tito Mboweni delivered his third annual budget address on 24 February 2021. The corporate tax rate reduction from 28% to 27% for years of assessment commencing on or after 1 April 2022 was arguably the most significant windfall for corporate taxpayers, although the actual cash benefits thereof will only be seen in the 2023 calendar year. Below, we highlight some of the other significant proposals, which […]