Effects of the 2017/2018 Budget on Individuals

Background The Minister of Finance, Pravin Gordhan, presented the National Budget for the 2017/2018 financial year on Wednesday, 22 February 2017. The Budget brought about both burden and relief in the form of adjustments to various tax tables for individuals. For example, the Budget increased the minimum taxable bracket for … MORE

VIEWPOINT: ‘Connected persons’ in the VAT Act

The Value-Added Tax Act 89 of 1991 contains general time and value of supply rules. There are however specific time and value of supply rules that are applicable to connected persons. A special value of supply rule is essentially triggered where connected persons are not dealing at arm’s length. Connected … MORE

VIEWPOINT: WHAT EXACTLY IS A ‘BROAD-BASED OWNERSHIP SCHEME’?

The most recent definition I could find for ‘Broad-Based Ownership Scheme’ (BBOS) in a B-BBEE context was the DTI’s 2005 draft version of Statement 100 on Ownership, which reads: ‘“Broad-Based Ownership Scheme” means a collective ownership scheme constituted with the view to facilitating the participation of specified natural persons in … MORE