Administration Updates
Update: VAT increase and how it impacts you.
As you may be aware, the Minister of Finance announced a value-added tax (VAT) rate increase in his budget speech on 21 February 2018. The standard rate of VAT will change from 14% to 15% with effect from 1 April 2018 (the Effective Date). This means that from the Effective Date, all taxable goods or services supplied by Sanlam, are subject to the VAT rate of 15%.
Budget Speech 2018
Finance Minister Malusi Gigaba’s maiden budget speech was keenly anticipated by South Africans wanting clarity on how he proposes to plug the gaping budget deficit. In his own words “This is a tough, but hopeful budget”.
Message from David Gluckman: Update on Default Regulations
David issued an update to all retirement funds administered by Sanlam Employee Benefits.
Taxation Laws Amendment Bill, 2017
Taxation Laws Amendments and how they affect the retirement fund administration.
Tax Administration Laws Amendment Bill, 2017
Exemption from submitting a return in respect of dividends The Tax Administration Laws Amendment Act, 2016, exempts persons who derive a dividend from a tax free investment from submitting a return in respect of...
Change in employees’ tax (‘PAYE’) process for retirement funds under administration
Sanlam continually assesses its business processes. Based on our findings reviews of our current processes, the following change will be implemented to ensure continued, effective and efficient administration of retirement funds.