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2012 Tax Update - Boksburg (Prof. Jackie Arendse)
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2012/06/01
When: Friday, 01 June 2012
09:00 - 13:00 (Registration from 08:15)
Where: The Airport Grand Hotel & Conference Centre
100 North Rand Road
Bardene
Boksburg, Gauteng  1627
South Africa
Contact: Moniqua Janse van Vuuren


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Overview

The annual amendments to the taxation laws werefinally promulgated into law on the 28 December 2011 and differed in a number of respects to the initial drafts that were published in June 2011. As highlighted by the Minister of Finance in his medium term budget speech the South African Revenue Services will be required to continue the enforcement of tax compliance to assist in the collection of maximum revenue from taxpayers, and SARS has indicated a renewed focus on high net worth individuals in 2012 as well as corporate taxpayers.

In this seminar we will examine the most relevant amendments and their effect on taxpayers as well as provide clarity on specific tax topics. The areas to be addressed will, inter alia, include

International
  • New dispensation for the taxation of foreign dividends and foreign interest
  • Extended rebate for foreign taxes
  • Unification of source rules
South Africa
Income tax
  • Income Tax Rates and thresholds
  • Taxation of contributions to and proceeds paid out by employer-owned insurance policies
  • Conversion of medical scheme contribution deductions to medical scheme contribution tax credits effective 1 March 2012, claiming of qualifying medical expenses
  • Recap of the taxation of travel allowances and employer owned vehicles
  • Updated brief overview of the Dividend Withholding Tax to be implemented 1 April 2012.
  • Dividend tax consequence of a discounted loan or advance by a company to a shareholder
  • Small business: Micro business turnover tax relief, new SARS guide, personal service providers
  • Harsh anti-avoidance provisions in respect of debt without set maturity date,
  • Tax consequences of the new Companies Act
VAT
  • Welcome temporary relief for residential property developers
  • Notional input VAT- Delinking VAT from Transfer Duty in respect of immovable property

Course content:

  • 2011/2012 Taxation Laws Amendment Acts update
  • New Tax Administration Act
  • New medical tax credit system
  • Amendments to tax on living annuities
  • Further changes to taxation of key-man policies
  • VAT amendments
  • CGT amendments
  • New rebates and 2011/2012 tax tables
  • Transfer Duty relief
  • Enhanced learnership and industrial policy incentives
  • New micro business turnover tax exemption
  • Measures to build on South Africa's role as a regional gateway
  • What's happening with the proposed tax on gambling winnings?
  • The suspension of s 45 roll-over relief
  • An overview of the new Dividends Tax (NB: details of the new tax will be covered in the Dividends Tax seminar)
  • and more...

Who should attend

Tax practitioners, business owners and managers, advisors, auditors, accountants, bookkeepers and anyone involved in business management and/or taxation.

About the presenter

Professor Jackie Arendse - B Acc H Dip Tax M Acc (Tax) MTP(SA) CA(SA)

Jackie is a sought after presenter of tax seminars for tax practitioners, accountants and the general business community. Jackie Arendse is the Head of the School of Accountancy at the University of the Witwatersrand and serves on various professional committees. Jackie chaired SAIT's National Technical Committee until 2010 and if formerly the Project Director : Tax at SAICA. She continues to advise professional bodies on technical tax issues and has represented SAIT and other professional bodies in liaising with SARS, National Treasury and the Parliamentary Portfolio Committee on Finance.

Jackie is well known as a leading expert in tax and her many articles on a broad range of tax matters have been published in a variety of business journals and newspapers.

CPD:

Attendance will secure 4 hours verifiable CPD points, including other professional bodies (i.e. SAIBA, SAIPA, SAICA, ACCA, IAC, ICB, FPI, CSSA, LSSA, FISA)

 

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.

MINIMUM REQUIREMENTS TO REGISTER

The Act requires that a minimum academic and practical requirments be set to register with a controlling body. Click here for the minimum requirements of SAIT.

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