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info@taxtalk.co.za | tel:
+27 (11) 476 5095 | fax: +27 (11) 476 5004 |
South Africa´s Leading Tax Magazine |
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Mar 2007
Week 5 |
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TAXtalk Notice Board
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Important Constitutional Court judgment on the issue of Double Jeopardy and Disproportionate State
action against someone already penalised for a wrong.
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The Constitutional Court handed down judgment in a matter concerning the forfeiture of property
alleged to be the instrumentality of an offence in terms of the Prevention of Organised Crime Act 121
of 1998 (POCA).
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read more ... |
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This Week on TAXtalk
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Dear Subscriber,
I would like to apologise for the typing error made in last week´s newsletter with reference to the
written summarized Summit TV interview with Anton Lockem of PriceWaterhouseCoopers. Anton´s article
was titled: “Getting to grips with Section 11(l): Employers´ contributions to retirement and benefit
funds” Reference was made last week to Section 11L of the Income Tax Act. This was incorrect; the
correct reference to the act is Section 11(l).
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One of our partners, Daniel Erasmus Attorneys, under the leadership of Daniel Erasmus, is pleased
to announce that they have opened a branch office close to West Palm Beach in Florida, United
States of America. Daniel Erasmus will from time to time be consulting with American clients, other
international clients and is available to consult with South African clients who wish to do
business in the United States of America.
It should be noted that the area of practice which Daniel Erasmus Attorneys is covering is not
only limited to tax but also to all areas of law and immigration. They have made a substantial
number of key contacts with specialist advisers and a variety of interest groups that would be
beneficial to any client contemplating doing business in the United States of America. Over the
last six months they have been active in establishing this branch.
They also invite any South Africans looking to emigrate and would like to establish or become
part owner of a established business in Florida to make contact with Razaan Mohammed,
razaan@danielerasmus.co.za,
so that the appropriate initial consultation can be arranged.
Please note that this initial consultation is at no charge.
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TAXtalk would like to welcome aboard our new business administrator Lyndal Johnson. Lyndal will be
handling all the subscriber correspondence and registrations. If you have any questions regarding
subscription to TAXtalk please contact Lyndal on:
lyndal@taxtalk.co.za. To read the TAXtalk profile,
click here. |
THE WINNERS of The International Tax Institutes Seminar COMPETITION are:
- Sheryl White (ETA WS 342)
- Johann Sadie (ETA WS 315)
- Phillip West (ETA WS 339)
- Cedric White (ETA WS 348)
- Terence Tobin (ETA WS 330)
Congratulations to our seminar seat winners, you will be contacted shortly by Lyndal Johnson to
finalise your attendance.
TAXtalk’s education partner, The International Tax Institute, (ITI), is presenting the tax course on:
“Unpacking the Small Business Tax Amnesty”. |
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M A G A Z I N E
Issue 4 - 2006
The TAXtalk Magazine is published quarterly and forms part of the TAXtalk Subscription
package.
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- Drawing small business into the tax net
- Ten questions about the Tax Amnesty
- Unpacking the Tax Amnesty
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CLICK HERE TO SUBSCRIBE |
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Click here for detailed information about this event.
Tax Issues
In his budget speech in February, minister of finance Trevor Manuel made some positive remarks that
will impact on private equity and BEE transactions. Michael Rudnicki, partner in corporate tax at
KPMG discussed these changes on Tax Issues.
Click here
for a summary of the full interview. Tax Issues is broadcast on Mondays at 20h40 and again at 22h40 on SUMMIT TV (DSTV CHANNEL 55).
Get the TAXtalk Magazine delivered to your postal address, receive a weekly tax electronic newsletter
and have 24 hours' access to download TAXtalk information and eBooks.
You can get all this by
SUBSCRIBING to TAXtalk
for R50.00 per month or R600.00 annually.
Click here to subscribe
online in less than two minutes.
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Until next week.
Head of TAXtalk
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You can now subscribe using |
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SUBSCRIPTION SPECIAL OFFER
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SUBSCRIBE to TAXtalk before the small business tax amnesty deadline on 31 May 2007 and receive a
FREE TAXtalk Magazine
subscription pack
Go here to subscribe
online in less than two minutes.
The prize draw for 5 complimentary seminar seats, to The International Tax Institute's Small
Business Tax Amnesty Seminar worth R650.00 has taken place. Congratulations to the 5 winners who are:
Sheryl White, Johann Sadie, Phillip West, Cedric White and
Terence Tobin. |
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The SARS Service Monitoring Office (SSMO)
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Prof Lynette Olivier - TAXtalk Magazine
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It is an undisputed fact that in recent years the efficiency of the South African Revenue Service
(SARS) has improved significantly. As part of the promise made by SARS “to be service orientated and
strive for excellence in service delivery” and its commitment to “continuous delivery improvement”
the SARS Service Monitoring Office (SSMO) was launched in October 2002.
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read more ... |
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Private equity and BEE transactions: Now for the good news
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Interview with Michael Rudnicki - partner in corporate tax - KPMG
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In his budget speech in February, minister of finance Trevor Manuel made some positive remarks that
will impact on private equity and BEE transactions. Michael Rudnicki, partner in corporate tax at
KPMG discussed these changes on Tax Issues, broadcast on Summit TV on Monday.
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read more ... |
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Global Tax Jobs
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eTaxJobs is a global job portal exclusively for tax professionals, and an online resource for employers
and recruitment firms to advertise their vacancies. eTaxjobs operate in the UK, Europe, USA, Canada,
Australia, New Zealand, Africa and around the World.
Available tax jobs for this week are:
- Tax Managers, Hanoi and Hi Chi Minh, Vietnam
- Managers/Senior Managers, Bangkok, Thailand
- Customs Managers/Senior Managers, Bangkok, Thailand
- Tax Opportunities in the Middle East, Dubai, Oman, Saudi, Kuwait
- International Tax Senior/Assistant Manager, Luxembourg
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SARS (increasingly) avoiding anti-avoidance
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Liesl Kruger - Director - Cliffe Dekker Tax
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A new anti-avoidance rule (GAAR) became effective on 2 November 2006. The previous version of this
legislation has not proven to be an effective deterrent to increasingly complicated and sophisticated
tax “schemes” which are promoted by financial institutions and implemented by corporate taxpayers
across the board.
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read more ... |
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Change in taxation of dividends
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Sean Kruger (Tax Director) - Ernst & Young
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The 2007 Budget proposes a significant change in the way dividends are taxed. This reform will be in
two phases. Phase one, effective 1 October 2007, will result in secondary tax on companies (STC) being
reduced to a rate of 10%, down from the current rate of 12,5%. Phase two, commencing in 2008, will
involve the imposition of a dividend tax on shareholders.
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read more ... |
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It´s all about psychology
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Brett Scott - HGIC Financial Coaching
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In the long run share prices are determined by fundamentals, which is the foundation of “Investments
101”. Fundamental factors are normally a generic term for the profit cycle or business cycle of a
company, industry or economy and can often carry on for years at a time.
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read more ... |
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Write for Us!
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Do you have something to say? Do you have an area of interest or expertise that you believe is
something you can contribute for the interest of our readers? Do you want to share your views with
like-minded people?
If so, send your submissions by email to ( janine@taxtalk.co.za),
fax (27 11 476 5004) or post (P.O. Box 1650, Gallo Manor 2052) and be heard!
We will publish the best stories and viewpoints on our website &/or in our weekly newsletter. |
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