Managers of Wealth Africa

South African Budget: Wealth And Investment Perspective

For the 2017/18 tax year, a new personal tax bracket for taxable income above R1,5 million was introduced.

Graccu to Establish Own Bank

He urged the Union to adapt to the changing circumstances of customer preferences and make good use of opportunities available to them.

Who'll be coughing up in the new super-tax bracket?

A rough calculation that assumes that his entire package would be taxed (which would not be the case) has the president paying R1.1-million a year in taxes.

New tax measure takes aim at Offshore Trusts

What appears to be targeted is the fairly common situation in which an offshore discretionary trust is established and holds the shares in an offshore company.

South Africa budget targets high earners with top rate hike

South Africa finance minister Pravin Gordhan has announced a new top tax bracket of 45% in his 2017 Budget.

EINA! Tax hikes will hurt but fatcats will feel pinch too

A rough calculation that assumes that his entire package would be taxed.

Wealthy individuals wary of special voluntary disclosure

Too expensive to encourage optimal uptake, tax experts say.

Africa tax in brief

The new CMS is to enhance customs-related transactions at Botswanan borders with all importers/exporters being required to register for e-customs using e-services with the BURS.

Almost R4bn in offshore assets disclosed to Sars

Yielding revenue of about R600 million under the SVDP.

Taxing the wealthy to death and beyond

An increase in taxable estates and the scrapping of roll-over relief for spouses could become a reality soon.

New global exchange system to tackle tax avoidance

Over 100 countries to join Common Reporting Standard system

Global investment flowing through tax havens grows by $700bn

The portion of global investment flowing through tax havens has risen by $700bn in two years, according to an analysis by ActionAid.

Evasive elite

The most obvious implication is the extent to which tax-evasion among the very rich has become almost routine.

Investec has 25% upside despite problems suggests HSBC

HSBC has raised its target to 710p from 580p, even though it reckons returns in its banking businesses are not acceptable.

Expats in South Africa facing ‘turmoil’ ahead of tax hikes

It is also predicted he will increase estate duty and tax on donations between spouses to increase tax collection on intergenerational wealth transfers.

‘Surcharge tax on wealthy individuals could be on the cards’

But personal income taxes expected to be main source of additional revenue.

Africa tax in brief

On 10 December 2016, Parliament adopted the Budget for 2017.

Introduction of section 7C to the Income Tax Act and its effect on estate planning

In an effort to curb the avoidance of tax by utilising trusts, section 7 of the Income Tax Act provides several anti-avoidance measures

Only 40 super-rich Nigerians pay correct tax

It has become apparent that a significant number of Nigerians have assets and fund lifestyles that are not consistent with their income as declared on their tax returns.

Programme to challenge tax evasion on a global level under establishment

The global team will work on deciding on measures to challenge tax evasion as well as monitor developing rules of international tax work and ensuring a more transparent environment.