#WATCH I Diane will unpack the tax proposals announced in the Budget Speech to enable you to understand the full impact of these changes. She will explain the proposals in a practical and comprehensible manner so that you can understand the proposals and their impact on business and personal finances.

Annual Budget and Tax Update 2023

Overview

The Annual Budget Speech remains one of the most anticipated events on the financial calendar. The Minister faces the continued challenges brought about by electricity constraints and their effect on the economy. While some sectors of the economy, tourism for example, are showing signs of a rapid post-Covid recovery, the issues of a stagnant economy, lack of investor confidence, high unemployment, and an ever-shrinking tax base remain. All these factors make it extremely difficult to ‘balance the budget.’ As taxes have a critical impact on taxpayers' profits and take-home pay, these announcements have an important impact on financial and business decisions.

Workshop content

Join us as Diane Seccombe unpacks the tax proposals announced in the Budget Speech in a practical and comprehensible manner so that you can understand the proposals and their impact on business and personal finances.

Tax issues raised in the 2023 Budget Speech

• Expansion of the renewable energy tax incentive: Corporates.
• Rooftop solar tax incentive: Individuals.
• Extension diesel fuel levy refund.
• Incurral and accrual of variable remuneration.
• Cessation of residence, apportionment of interest exemption and capital gains tax annual exclusion.
• Retirement fund transfers (two-pot retirement systems).
• Remission of administrative non-compliance penalties.
• Distribution of contributed tax capital.
• Employment tax incentive.
• Transfer pricing: New interpretation note 127.
• Denial of deduction of expenses against interest income, removal of practice note 31.
• Limitations of assessed losses and mining capital expenditure.
• Value-added tax, review of rulings issued in terms of section 72.
• Tax administration amendments.
• Tax rates, including:
  • Changes in normal tax rates and rebates, including the medical rebates.

Top frequently asked questions related to rooftop solar tax incentives:

• What if you installed solar panels before 1 March 2023?
• If the installation has been done but the certificate of compliance is still to be issued in March, would the rebate apply?
• If one has to take a loan from a bank to install solar, is the interest deductible (forming part of the “cost” factor on the purchase)?
• If married in community of property, can you claim up to R30k?
• What if you rent solar panels?
• Can an individual from home claim 12b as well as the rebate?
• Is there an incentive for body corporates?
• Can a business claim 125% for a grid tied system (stores energy) with the inverter and battery for office equipment with no solar panels? Or is it only for the energy producing systems?

Any other questions questions prior to the Budget and Tax Update? Submit it here.

Competencies Developed in this Workshop

After attending this webinar, you will be:

• Updated with important and current changes in tax legislation introduced in the Budget Speech.
• Competent to advise clients about the impact of the latest tax amendments announced in the Budget Speech on their tax compliance and future planning opportunities.
• Able to train your staff to be prepared for implementing the latest tax amendments announced in the Budget Speech.
• Informed about topics to include in a client communique to alert you clients about the specific tax implications introduced in the Budget Speech.
• Competent to revise the tax planning strategy of clients for the 2023/2024 tax year.

Dates and venues

Johannesburg - 8 March 2023 - 09:00 - 13:00

• The Wanderers Club, 21 North St, Illovo, Johannesburg

Pretoria - 10 March 2023 - 09:00 - 13:00

• The Capital Menlyn Maine, 194 Bancor Ave, Menlyn, Pretoria

Durban - 14 March 2023 - 09:00 - 13:00

• Umhlanga Coastlands, 329 Umhlanga Rocks Drive, Umhlanga Rocks

Cape Town - 16 March 2023 - 09:00 - 13:00

• Lord Charles Hotel, Corner Main Road (M9) & Broadway Boulevard, R44, Somerset West, Cape Town

Dedicated webinar presented over 2 dates:

23 March 2023: Part 1 - 09:00 - 11:00 and

24 March 2023: Part 2 - 09:00 - 11:00

Presenter

Diane Seccombe

BCom, LLB, LLM (Taxation)

Diane Seccombe is an admitted attorney with a master’s degree in taxation and has been involved in tax for well over ten years. Currently the National Head of Taxation with the Mazars Academy, Di provides tax training to Mazars partners, staff, and clients. She also consults on income tax matters including, corporate, individual, and international tax as well as VAT.

Di presents tax seminars on a national basis for, amongst others, Sanlam, ABSA, Old Mutual and various professional institutes. She started her tax career as a full-time academic with the University of KwaZulu-Natal before moving into practice. She has presented numerous tax seminars with enormous success to attendees ranging from JSE corporate advisers to smaller tax practitioners and is a popular lecturer amongst her students. Di’s primary focus in any presentation is that attendees find the material relevant and presented in an understandable and accessible manner.

CPD

This event and successful completion of the online assessment will secure 4 hours verifiable output Tax CPD points.

Event Investment

Face-to-face workshop:

• Tax Faculty CPD Subscribers: R475.00
• Regular price: R1 280.00
• RCB member price: R1 060.00
• SAIT member price: R865.00
• Printed notes: R60.00
• Electronic notes: Free 

Dedicated webinar presented over 2 dates - 23 March 2023 (part 1) and 24 March 2023 (part 2)

100% discount for all 2023 Tax Faculty CPD subscribers. Not a CPD subscriber yet? Click here to register now.

• Tax Faculty CPD Subscribers: Free
• Regular price: R595.00 (part 1 and 2)
• SAIT member price: R475.00 (part 1 and 2)
• Group price 1 (5 people max): R950.00
• Group price 2 (10 people max): R1 800.00
• Group price 3 (15 people max): R2 500.00

Payments and cancellations

• All payments must be made by EFT or by credit card, at least 3 working days before commencement of an event.
• Kindly note that should payment not be received 2 days after the event, legal action will be taken
• Proof of payment will be requested at registration, if payment does not reflect on Tax faculty’s bank account.
• Only written notice of cancellation will be recognized.
• Conditions:
  • If the cancellation occurs more than 4 working days prior to the event no cancellation fee will be charged.
  • If the cancellation occurs less than 4 working days prior to the event a 100% cancellation fee will apply.
• Delegates who book and fail to attend will be liable for the full event fee.
• Tax faculty’s liability in the case of an event being cancelled will be limited to a refund or credit of the event fee.
• Please click here for the full terms and conditions.