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March 2018 NEWSLETTER
You and Budget 2018: It Could Have Been Worse!
“What people really want is fairness. They want people paying their fair share of taxes” (Barack Obama)

Our “tough but hopeful” Budget 2018 has been widely greeted as being as positive and well-balanced as could be expected in our current circumstances. 

But do we still face a full downgrade to Junk Status? What will investors think? And how will the proposed changes affect us all in practical terms? Let’s discuss the highlights…
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You and Budget 2018: The New Tables 
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For your ease of reference, here’s a selection of the proposed new 2018/19 Tax Tables, showing changes from the 2017/18 tax year.

Look for these tables –
  • Income Tax for individuals and trusts (with notes)

  • Income Tax for SBCs (Small Business Corporations)
 
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Make Sure You Have a Shareholders’ Agreement 
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Shareholder disputes are always stressful affairs. They’re also costly – quite apart from wasted time on all sides and the potential for operational and reputational damage to your business, if they head to the courts you are almost certainly looking at substantial legal costs.

Fortunately there’s a quick and easy solution in the form of an upfront shareholders’ agreement.  

Read on for more, with a checklist of things to include in your agreement… 
 
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Your Tax Deadlines for March, and How to Upload Supporting Documents when eFiling 
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There are only run-of-the-mill deadlines for March.

When eFiling you can upload twenty files per day as supporting documentation – these files can be no more than 2 MB each. If you have more than twenty files to upload when submitting your return, then contact SARS and they will open a new link enabling you to submit all the necessary files.
 







Disclaimer

The information provided herein should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your professional adviser for specific and detailed advice.

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