Latest Financial News

JN Chartered Accountants keeps you up to date with the latest financial news. Sign up for our monthly newsletter today.

02Mar 2021

Government is reducing the number of tax incentives, expenditure deductions and assessed loss offsets, with the aim of lowering the corporate income tax rate over the medium term. These changes are expected to enhance efficiency, transparency and fairness in the business tax system, while facilitating economic growth through improved investment and competitiveness. Although corporate income […]

02Mar 2021

Personal income tax accounts for about 40 per cent of total tax revenue. In response to extreme levels of inequality, South Africa’s rate structure is highly progressive and covers tax residents’ worldwide income. South Africa has the highest personal income tax share among upper middle-income countries, alongside one of the highest top personal income tax […]

02Mar 2021

The sustainability of the public finances will depend heavily on government’s ability to reduce growth in the public-service wage bill. Compensation accounted for about 34 per cent of consolidated spending in 2019/20. Between 2006/07 and 2019/20, compensation was one of the fastest-growing spending items, increasing faster than GDP growth. As outlined in previous editions of […]

03Feb 2021

Early in January 2021, Facebook’s messaging app WhatsApp received massive backlash in relation to an update of its privacy policy which was meant to take effect on the 8th of February 2021. Effectively, the update allows for new functionality to the businesses feature by allowing WhatsApp to reserve the right to share the different data it […]

03Feb 2021

Codes of Conduct: Specific Codes of Conduct may be developed in order to clarify how the 8 conditions for the lawful processing of personal information are to be applied within a particular sector. These codes may be developed either by the IR itself, or by the stakeholder/s within that particular sector, who would then make […]

03Feb 2021

Tito Mboweni’s big day looms next month, with little progress on the medium-term budget policy speech. The biggest issue relates to the freeze on government wages to which there has been no resolution yet. Let’s hope that we get finality in the upcoming budget. The big uncertainty is around the projected R5 billion tax increases […]