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Budget Speech 2023/2024 Highlights 10 Mar 2023 • Annual Updates Here are the highlights of the 2023/2024 Budget Speech. Lower income tax rates, rebates on renewable energy, RAF Levy Refunds for food manufacturers

Remember to record your motor vehicle odometer reading on 1 March 06 Mar 2024 • Annual Updates If you receive a travel allowance from an employer or principal, you can claim a deduction on assessment of your annual income tax return for the use of a private motor vehicle for business purposes.

SARS update of the Tax Directives system 06 Mar 2024 • Annual Updates SARS has enhanced the Tax Directives system in line with the IBIR-006 Tax Directives Interface Specification Version 6.601.

ROE Online System Temporary Shut-Down 18 Mar 2024 • Annual Updates This is to notify all Employers that the Compensation Fund will be temporarily closing the ROE Online System and the internal SAP ECC specifically for the Employer Registration and Employer Assessment

Third Party Data Submission Deadline 18 Apr 2024 • Annual Updates A reminder that the SARS Third Party Data Annual Submissions opened on 1 April 2024 and will close on 31 May 2024.

SARS has announced the Dates for Tax Season 2024 05 Jun 2024 • Annual Updates The South African Revenue Service (SARS) has announced the filing dates for tax season 2024, which will open in July.

SARS Changes to Medical Aid Tax in South Africa 18 Jun 2024 • Annual Updates June 2024 - South African Revenue Service (SARS) is making tax changes for medical aids to simplify data submission and reduce audits for taxpayers with complex medical claims.

Ensure your Banking Details are up to date with SARS 21 Jun 2024 • Annual Updates SARS warns taxpayers to update their banking details before tax season starts. Time is limited, so act quickly to avoid any issues with your taxes.

Significant changes for Tax Season 2024 in South Africa 22 Jun 2024 • Annual Updates SARS announced major changes for the 2024 tax season starting on July 1, including auto-assessments.

Interest rate relief is coming for South Africa 22 Jun 2024 • Annual Updates South Africa could see interest rates drop in September as inflation starts moderating. According to Stats SA, annual consumer price inflation was 5.2% in May, unchanged from April.

Relief on the cards for Homeowners in South Africa 15 Jul 2024 • Annual Updates The South African Reserve Bank (SARB) is likely to reduce interest rates by 150 basis points by mid-2025.

SARS Tax Season 2024 Now Open 15 Jul 2024 • Annual Updates Tax Season 2024 Officially opened today. Here is your essential information for this tax season.

Single Section 18A Receipt for Donations 05 Aug 2024 • Annual Updates Section 18A(1) allows taxpayers to deduct the full amount of donations made to approved organizations in a year from their income tax.

The expected Petrol Price changes in September 2024 16 Aug 2024 • Annual Updates Data from the Central Energy Fund (CEF) in the middle of the month indicates a significant reduction in petrol and diesel prices expected in September.

Inflation Cools and Interest Rate Cut coming 21 Aug 2024 • Annual Updates Consumer price inflation fell from 5.1% in June to 4.6% in July. This is the lowest rate since July 2021. It is also very close to the South African Reserve Bank's target of 4.5%.

SARS Rules for Public Officers - What Tax Practitioners should know 26 Aug 2024 • Annual Updates Tax professionals know that a Public Officer is important for handling a company's tax matters with SARS. Recent updates show that SARS is now stricter about companies not having one.

Updates to the International Code of Ethics for Professional Accountants 04 Sep 2024 • Annual Updates As experts in the finance and accounting fields, it's crucial to keep abreast of the most recent global ethics and independence norms.

Interest Rates cut by 25 Basis Points in South Africa 21 Sep 2024 • Annual Updates As expected, the SA Reserve Bank’s monetary policy committee (MPC) lowered interest rates by 25 basis points. This change came after a large cut of 50 basis points in the US overnight.

Is now the right time to buy an annuity? 19 Oct 2024 • Annual Updates Guaranteed types of annuities are a safe choice for people who want to turn their investment into a fixed income.