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In an Interpretation Note (no 60) published by SARS on 10 January 2011, information is given regarding the so-called scrapping allowance referred to in section 11(o) of the Income Tax Act.

Trusts may distribute income to some beneficiaries and capital gain to others.

The key driving force of the new national skills development strategy (NSDS III) for South Africa is improving the effectiveness and efficiency of the skills development system.

No initial product fees and a simple flat annual administration fee make the new unit trust retirement annuities (RA) one of the most cost-efficient ways to save for retirement.

A ‘very small business’ as defined in the new Draft Revenue Laws Amendment Bill – a business with a turnover that does not exceed R1 million – may in future opt to be taxed on gross turnover rather than on taxable income.

In addition to the Voluntary Disclosure Programme available to tax payers – the so-called Tax VDP – the Minister of Finance announced a voluntary disclosure programme for regularising the exchange control affairs of current and former South African residents.

The decision of the Supreme Court of Appeal in the case of SARS v Brummeria Renaissance (Pty) Ltd and others (2007 SCA 99, 69 SATC 205) is well known.

The current bear market is turning into a once-in-a-few-lifetimes event! Most economic modelling has failed due to the extremity of this event, which shows significant similarities to the 1929 and 1960s periods.

Indien kontantvloeiprobleme u slapelose nagte besorg, kan u dit oorweeg om u polisse te herstruktureer om uitgawes te besnoei.

Soos verwag is, het mnr. Trevor Manuel ’n neutrale begrotingsrede gelewer. Gegewe die wêreldwye ekonomiese krisis en die huidige politieke omstandighede in Suid-Afrika, kon die begrotingsrede nie mense se verbeelding aangryp nie.