Monthly Tax Update – February 2021

WHAT YOU WILL LEARN

After attending this webinar you will be:

• Up to speed with the latest changes in tax legislation, with the focus on the 2021 Budget Speech, presented by the Minister of Finance.
• Outline the key aspects of recent SARS documents published such as ruling, interpretation notes, notices, etc.
• Advise clients as to the latest tax amendments.
• Train your staff to prepare tax returns in line with the latest amendments.
• Issue a newsletter to your clients informing them about relevant tax law, rulings, notes, judgments, and developments in tax law.
• Develop new tax structures for clients.
• Adjust your tax working procedures.

DESCRIPTION

Does it feel like the tax rules are changing by the minute and that it’s difficult to keep abreast of changes? It’s crucial for tax professionals to be informed and well-rounded. Our monthly tax update webinars will save  you time and money. We sift through all the latest changes and amendments and present in an easy to understand summarised format. This saves you R10000 worth of effort each month.

The webinars are presented in conjunction with SAIT and The Tax Faculty and presents you with a recording of an expert presenter and recorded Q&A from practitioners just like you.

The focus of this webinar is on the 2021 Budget Speech. This was a Budget focused on big spending announcements and was heavily influenced by the need to shield citizens, businesses and the economy in general from the worst effects of the COVID-19 pandemic.

Join us for the webinar as we unpack the 2021 Budget Speech

PRICE

The following pricing apply:
Ad hoc: R475.00
Subscription: Included for free in Accountant in Practice plus Tax package.

CONTENT

Study unit 1 – 2021 Budget Speech

Main tax proposals
Tax revenue trends
Effect of COVID‐19 tax measures
Tax to GDP ratios
Tax revenue composition
Tax Tables and Thresholds
Limitation on deduction of interest
Limitation on set-off of assessed losses
Corporate tax-broadening measures
Revenue from dividends tax
Small business corporations
Turnover tax on micro businesses
Trust
Tax-free investments
Medical scheme credit (s 6A)
UIF
Skills development levy
Travel allowances
Subsistence allowances
Statement on reviewing tax provisions for travel and working from home
Estate duty
Donations tax
CGT exemptions
Transfer duty
Assessing the s 12J venture capital company incentive
Specific excise duties
Sin Taxes
Fuel levies
Carbon tax
Health promotion levy
Plastic bag levy
Environmental taxes

Study unit 2 – Proposed Amendments

Long‐service awards
Curbing abuse of the employment tax incentive
Time of disposal rules for assets acquired from a deceased estate
Anti-avoidance to curb cession of a right to receive an asset
Anti-avoidance to curb loan transfers between trusts
Lump sum retirement benefits after ceasing to be a resident
Corporate tax amendments
Amendments to corporate reorganisation rules
International tax
Withholding tax exemption declarations
VAT amendments

Study unit 3 – Tax Administration Amendments

Tax‐deductible donations (s 18A)
Refunds of dividends tax
Period allowed for farmers to replace livestock sold
Administrative non‐compliance penalties for non‐submission of EMP501 returns
Provisional tax: years of assessment of 6 months or less
Advance tax ruling system
Review of voluntary disclosure programme

REQUIREMENTS

There are no preconditions for this course.
Moderate level.
Recorded webinar made available on a specified date

PRESENTER

By attending this webinar, you will be provided with:
– Summarised slide presentation.
– Reference documents and / or course material where available.
– Access to a technical knowledge base.
– Recorded webinar that includes an expert presenter and participant interaction.