With this recording, we aim to bring to you, the Tax Practitioner, the latest tax practice news and latest SARS information. Each monthly interactive one-hour session will feature two parts:
Segment 1: Tax News (30 minutes)
- Legislative updates.
- SARS operations and trends.
- SARS legal and policy.
- New case law.
- Special focus: Home office expenses for salary earners.
Speaker: Jean du Toit from Tax Consulting South Africa.
Summary: Each week, SAIT issues the Weekly Tax Practice Highlights to its members. The newsletter is curated weekly by SAIT’s tax experts with years of industry experience to identify, investigate, and discuss the most relevant tax-related issues that arose in the past week, and cast forward to anticipate future events. The intention is to assist tax professionals in a very practical way, not only to stay up to date but also to share a ‘behind-the-scenes' look with matters they would otherwise not be privy to. During the monthly tax news, Jean du Toit, provides a general overview and summary discussion of the past month's weekly tax practice highlights. Jean touches on legislative amendments and general tax-related events, more importantly, he focusses on SARS updates and practical operational matters. As with the Weekly Newsletter, the aim is to assist tax professionals keep up to date with changes that may affect their tax practice.
Segment 2: Tax Expert(s) on Topical Matters(s) (30 minutes)
Speaker: Angelika Goliger
Summary: The effect of COVID-19 on the economy has necessitated the unprecedented Supplementary Budget speech, delivered on Wednesday, 24 June 2020. The concern regarding the economy has also created significant interest this year in the Medium-Term Budget Policy Statement (MTBPS), to be delivered by the Minister of Finance, Tito Mboweni on 28 October 2020.
The MTBPS is presented to Parliament in October/November each year, and usually addresses the medium-term economic outlook, outlines fiscal policy proposals, and lists the sectorial allocations. It is critical during the current COVID-19 crisis, for the tax industry to take note of government’s priorities and proposed allocations as set out in the MTBPS. In contrast to prior years, the spend on COVID-19 related matters, and the depressive effect the pandemic had on South Africa’s economic outlook will be analysed and discussed. SAIT would like to offer members the opportunity to gain insight into the MTBPS by way of a presentation through an experienced economist, specifically focussing on the MTBPS and taxpayers. Please note that guest speakers' deliveries will be pre-recorded to limit connectivity issues, however, they will be available on the day of the webinar to answer questions live via the chat function.