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SA Budget 2013/2014 - Deloitte Articles

Give property development sector clarity on tax positions and create employment, Deloitte urges Minister

Izél Du Plessis, Deloitte Tax Director and Regional Tax Leader for Pretoria, says that “although taxpayers who own new and unused commercial buildings are permitted to deduct capital allowances on these buildings from their taxable income, there have recently been two occasions where confusion regarding this principle has arisen.”

Download the Capital Allowance article

Current economic conditions will impact on SA’s tax environment, says Deloitte

Johannesburg, 9 January 2013- Slowing domestic growth, a shortfall in the collection of individual taxes and company taxes and strike action in key economic sectors will prevent Government introducing tax cuts to provide economic stimulus and could leave SARS having to adapt their tax collection focus in 2013, says Deloitte. 

“The pressure is on SARS to collect as much tax as possible. Given that the tax collection estimate for 2011/12 had to be adjusted downwards by R5 billion, and that it may not be feasible to introduce more costcutting strategies, Government will have little option but to examine other avenues to collect tax revenues as increased tax rates in this environment will not be popular,” says Nazrien Kader, Deloitte National Taxation Service Line Leader.

Download the Current Economic Conditions article

Shift in approach to customs valuations could result in resistance, warns Deloitte.

Johannesburg, 14 January 2013- A proposal to shift the basis for calculating customs duty to include product cost, insurance and freight presently being considered by government could result in resistance spurred on primarily by the fact that it could increase the costs of imports, whilst only marginally increasing tax income, warns Deloitte.

Download Customs article

Help business cope with a turbulent 2013, by making SARS return process simpler, Deloitte asks Minister

Johannesburg, 16 January 2013- “With local companies facing major economic challenges, a drop in GDP and the mining sector expected to begin a major retrenchment programme early in 2013, the Minister of Finance should consider assisting the hard-pressed corporate sector by reviewing the onerous requirements of the SARS IT14SD return on companies,” says Deloitte.

Download SARS return process article

Uncertainty regarding funding of National Health Insurance, could be addressed in upcoming budget, says Deloitte

Johannesburg, 17 January 2013- The 2013 national budget to be tabled in February could provide an opportunity for Government to address the uncertainty surrounding funding of the proposed National Health Insurance plan, especially as expectations had been raised that about R225 billion will be required for the scheme by 2025, says Deloitte.

Download the National Health Insurance article

Rent Resource legislation for mines could follow ANC conference, says Deloitte

Johannesburg, 15 January 2013- Decisions made during the ANC Mangaung conference could see discussions around the proposed state intervention in the mining sector being concluded and influencing the February 2013 Budget speech, says Deloitte.

Depending on what is agreed by the ANC, says Alex Gwala: Associate Director, Corporate Tax at Deloitte, an announcement by the Minister of Finance, Pravin Gordhan, about the possible introduction of some proposed interventions, can be expected.

Download the Rent Resource article

SARS closes dividend payment gap, notes Deloitte

Johannesburg, 18 January 2013 - Five years of uncertainty and discussion around the introduction of dividends withholding tax have at last been laid to rest, says Deloitte. 

Legislation that took effect on 01 April 2012 specifies a dividend withholding tax (DWT) rate of 15%, which is, however, subject to applicable domestic exemptions or tax treaties,” says Musa Manyathi, Associate Director in Taxation Services at Deloitte.

Download the SARS Dividend Gap article

New Transfer pricing rules starting to bite, says Deloitte

Johannesburg, 21 January 2013- Revised wording in the Income Tax Act has moved the focus on transfer pricing and the classification of cross border, ‘armslength’ transactions, a change that that has major implications for taxpayers, says Deloitte.

Says Billy Joubert, Director and Head of Transfer Pricing at Deloitte, two key changes in South Africa’s transfer pricing regulations will impact on taxpayers.

Download the Transfer Pricing article

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