Ring-fencing trading losses
Top-rate taxpayers need to watch out for Section 20A SECTION 20 of the Income Tax Act 58 of 1962 deals with the set-off of losses from a trade against other income. In general, such set-off is allowed (see sub-paragraph (1)(b)), provided that the loss is incurred in the taxpayer’s own name (i.e. not in a […]
Securing your business’s future: FICA compliance in South Africa made simple
To thrive in South Africa’s ever-changing economic landscape, it is crucial to have a thorough understanding of your regulatory responsibilities, including compliance with the Financial Intelligence Centre Act (FICA). Recognised not just as an additional requirement to your current protocols, but rather as a fundamental component in upholding your business’s integrity, FICA ensures transparency and […]
More blackouts, fewer jobs, less tax revenue
When will government recognise that Eskom’s crisis is South Africa’s crisis? It is shocking that the South African government seems not to regard the now regular power blackouts lasting four hours at a time as the single biggest risk to South Africa’s economic growth and to its relatively stable young democracy. This can only exacerbate […]