is the most powerful weaponwhich you can use tochange
the world.” - Nelson Mandela
Minister Pravin Gordhan on Wednesday delivered a budget that will instil
confidence in the fiscal stability of our country. Although some commentators
expected more drastic announcements, the Minister rather opted for a
consultative approach by establishing a Commission of Enquiry into Tax Policy
before making drastic announcements such as a super tax. The appointment of
Judge Dennis Davis, a member of SAIT Tax Who’s Who SA, has been appointed
as the Chair of the new Tax Commission. The appointment is widely
supported and we commend the decision by President Zuma and Minister Gorhan to
establish the Commission.
Institute engaged National Treasury during 2012 on the current challenges
facing employers to claim the learnership tax incentive. The proposal was to
extend the current learnership incentive to internships as well, in an effort
to facilitate the creation of jobs for the youth, and moreover to ensure that
skills are transferred to new entrants into the employment force. The
youth wage subsidy announced in 2010 by Minister Gordhan became a contentious
issue, and although the Institute is not politically aligned, it nonetheless
has a keen interest to educate the youth, the leaders of tomorrow. We were
therefore relieved to note that the Minister announced the implementation of
tax incentives in support of the youth wage subsidy. It is important that we
give our youth a fishing rod, not a fish, empower them to become marketable and
even start their own business.
take up Education Arms to change our country – change our future, and empower
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.