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News & Press: Opinion

2013 National Budget: Another good news story

01 March 2013   (0 Comments)
Posted by: Stiaan Klue
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"Education is the most powerful weaponwhich you can use tochange the world.” - Nelson Mandela

Finance 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.

The 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.

Let’s take up Education Arms to change our country – change our future, and empower our youth.


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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