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The eagerly anticipated 2014 Budget Speech Breakfast will see a panel of leading business and financial authorities discuss the wider implications of Minister Pravin Gordhan’s 2013/2014 Budget Speech on the morning of February 27th.

Co-hosted by two of South Africa’s leading professional bodies, the Financial Planning Institute (FPI) and the SA Institute of Tax Practitioners (SAIT), this annual event is the country’s largest independent, post budget speech breakfast, and attracted over 1000 delegates last year who engaged in a lively discussion over how the National Budget impacts South Africa with regards to taxation, the economy, socio-economic and political environments.

Co-hosted by two of South Africa’s leading professional bodies, the Financial Planning Institute (FPI) and the SA Institute of Tax Practitioners (SAIT), this annual event is the country’s largest independent, post budget speech breakfast, and attracted over 1000 delegates last year who engaged in a lively discussion over how the National Budget impacts South Africa with regards to taxation, the economy, socio-economic and political environments.

According to Chief Executive of SAIT, Stiaan Klue, the slowdown in the economy and consumer spending towards the second and third quarter of 2013, combined with the wave of mostly illegal strikes in the mining sector last year will negatively impact total projected revenue collection for the fiscal year ending 30 March 2014. “Ongoing financial pressure on government, may force the Finance Minister’s hand to find creative ways to increase taxes while remaining sensitive to the proletariat given the fact that this is an election year.”
“It is widely acknowledged that there will be a significant shortfall in tax revenue this fiscal year, and speculation is rife on which measures and reforms National Treasury will introduce to bolster the balance sheet in the coming year,” comments FPI Chief Executive, Godfrey Nti. An outright increase in direct tax is unlikely in an election year. However, the government will garner popularity if they introduce tax reforms that further their objectives in the redistribution of wealth, such as an increase in Capital Gains Tax (CGT), and the introduction of luxury VAT rate similar to the UK.

With this said it, is absolutely imperative for all professionals within the financial services industry to work on creating financially informed South Africans who are educated on how to prepare and adjust their finances for such tax reforms. The FPI and SAIT’s partnership over the budget breakfast, enables both organisations to effectively share its expertise in ensuring that South Africans can make informed financial decisions to navigate their way around the country’s 2014 budget amendments.

The Budget Speech Breakfast has assembled an expert panel comprising of leading financial commentators and thought leaders, including Prof Jackie Arendse, Mike Schussler, Patrick Craven, Ronald King, CFP® and Prof Steven Friedman. Each will share their personal analysis of the Budget Speech before engaging in a panel discussion where the floor will be opened to delegates.

“It’s crucially important to cut through some of the jargon that surrounds the Budget Speech and to focus on issues that will have the biggest impact on the financial health of the Country,” adds, Klue. “The purpose of the Budget Speech breakfast is to give the delegates an inside track on how certain reforms will affect their businesses and the South African economy as a whole.”

In order to cater for the nationwide interest in the Budget Speech Breakfast which takes place at Gallagher Estate in Johannesburg, Business Day TV has been commissioned to broadcast the live discussion to audiences in Bloemfontein, Cape Town, Durban and Port Elizabeth.

Online registration is open until 24 February and seats can be booked by contacting Ingrid Erwee on events@thesait.org.za or contact the FPI events team at events@fpi.co.za. Attendance secures two hours verifiable CPD points recognised by the major the professional bodies. Individual tickets, priced at R550 for members and R600 for non-members, include a three-course breakfast. Exclusive sponsored tables of up to ten can be reserved for R5000.

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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