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2018 Budget & Tax Update - Port Elizabeth
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2018-03-14
When: 14 March 2018
From 9:00am until 1:00pm
Where: The Granary
20 Stanley Street
Richmond Hill
Port Elizabeth, Eastern Cape 
South Africa
Contact: Tshepo Magopa
0129410416


Online registration is closed.
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Overview:

The much anticipated 2018 Budget Speech which was delivered yesterday has confirmed significant changes to the tax system.

The Annual Budget and Tax Update Seminar will inform attendees on the recently-promulgated and imminent tax amendments, and will unpack these in a comprehensible manner. This seminar is a significant, must-attend event on the calendar of tax practitioners, accountants and bookkeepers everywhere.

Because the impact of these tax amendments requires careful consideration, attending a seminar that covers these amendments is compulsory for SAIT registered practitioners.


Course Content

The 2018 National Budget Rates

  • Changes in normal tax rates and rebates, specifically the medical rebates (effective 1 March 2018)
  • The 25% tax rate for estates and donations in excess of R30 million
  • Changes in the rate of VAT and related matters (zero-rating of basic foodstuffs, the fuel levies and ad valorem – motor vehicles, smart phones, etc.)

Income Tax Act

  • Increase of the ‘official rate of interest’
  • Changes to the amendments relating to share buy-backs, dividend stripping and debt benefits introduced last year (some of these affected legitimate transactions and arrangements, which will be addressed)
  • Clarifying the treatment of doubtful debts
  • Fixing the overlap in the treatment of a dividend in sections 1 and 31
  • Deduction of fruitless and wasteful expenses
  • Deduction of interest and the tax treatment of excessive debt financing
  • Trusts
    • The extension of the CFC rules to foreign companies held through foreign trusts and foundations
    • Interest paid to non-resident beneficiaries of trusts

VAT Act

  • Cryptocurrency transactions, including changes to the Income Tax Act
  • Face value of debt transferred
  • National housing plan
  • Correction of invoices – on cancellation and going concern supplies
  • Electronic services

Tax Administration Act

  • Notification of commencement of audit
  • Deregistration of non-compliant tax practitioners
  • Monitoring of business transactions
  • Dividends tax returns by persons in receipt of exempt dividends

The Taxation Laws Amendment Act and Tax Administration Laws Amendment Act

  • Section 7C – applying the new legislation, calculation of the donation and loans to companies as well as inter-company loans
  • Retirement reform – transfers to funds and the section 11F deduction
  • Employees tax considerations – bursaries, uniforms and the reimbursement of travel on business costs
  • Specific issues relating to debt benefits (the new legislation)
  • VAT, leasehold improvements and section 18B
  • Tax administration and the issuing of assessments after completion of reviews and audits

Recent Selected Court Judgments and New SARS Rulings and Interpretations


Presenter

Piet Nel - Kempton Park, Pretoria, Johannesburg and Webinar
Magister Commercii (Taxation); BCom (Hons) and CTA; BCom (Accounting); CA(SA)

Nico Theron - Potchefstroom, Polokwane and Durban
MTP(SA); BCom Law (Cum Laude); BCom Honours Taxation; MCom Taxation (SA and International Tax)

Wessel Smit - Bloemfontein
B.Compt (Hons); HDip Tax; MCom; (Taxation) CA(SA)

Andre Neethling - Cape Town and George
LLM (Tax Law); B Econ

Daylan Staude - Port Elizabeth
MCom (Taxation); (CA) SA


CPD

This event and successful completion of the online assessment will secure 4 hours verifiable output CPD points/units. Including the following professional bodies: SAICA, CIMA, SAIPA, SAIBA, ACCA, FPI, CSSA, LSSA, FISA, ICBA, IAC, AAT


Event Investment

Free for all 2018 CPD subscribers. (Not yet a subscriber? Please click here for more information).

Option 1 - Seminar:

Member: R985.00

Non-member: R1180.00

Printed notes: R50.00

Click here to register for the seminar

Important: Printed copies of notes is optional and will cost additional R50 per set and must be ordered. Electronic notes will be emailed to all registered delegates 2 days prior to the event. Should you require a printed copy on the day of the seminar kindly select the printed seminar notes when registering for the event.

Option 2 - Dedicated Webinar Broadcast

This dedicated CPD webinar will be presented on 20 March 2018 from 09.00 – 13.00

Member: R450.00

Non-member: R550.00

Company Price: R850.00

Click here to register for the Webinar

Option 3 - DVD

This CPD event will be recorded and available to purchase on DVD. Available 31 March 2018.

Member: R650.00

Non-member: R720.00

Click here to purchase the DVD


Payments & 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 been received 2 days after the event, legal action will be taken
  • Proof of payment will be requested at registration, if payment at that point in time has not been reflected on SAIT's bank account.
  • Only written notice of cancellation will be recognised.
  • 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.
  • SAIT'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.

 

WHY REGISTER WITH SAIT?

Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.

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