Treasury Eyes Foreign Pensions: What It Means for Retirees
Nexia SAB&T on 30/09/2025

Treasury Eyes Foreign Pensions: What It Means for Retirees

Recent proposals from the National Treasury suggest a major shift in how foreign pensions and retirement benefits are taxed in South Africa. Currently, under Section 10(1)(gC) of the Income Tax Act, lump sums, pensions and annuities from foreign sources tied to past employment are exempt from income tax for South African residents.

Static VAT Threshold is Placing Administrative Strain on Small Businesses
Nexia SAB&T on 30/09/2025

Static VAT Threshold is Placing Administrative Strain on Small Businesses

South Africa’s VAT registration threshold has remained unchanged at R1 million in annual turnover since 2009. In the intervening years, inflation has eroded the real value of this threshold. If it had been adjusted annually, analysts estimate it would now be closer to R2.1 million.

SARS Relief Possible for Taxpayers
Nexia SAB&T on 30/09/2025

SARS Relief Possible for Taxpayers

A forthcoming legislative change could offer relief to South African taxpayers, but only under stringent conditions. Under the proposed amendments in the 2025 Draft Tax Administration Laws Amendment Bill (TALAB), individuals and businesses may be allowed to suspend payment on estimated assessments issued by SARS, provided certain criteria are met.

IRR Warns Parliament Against SARB Amendment Bill
Nexia SAB&T on 29/08/2025

IRR Warns Parliament Against SARB Amendment Bill

The Institute of Race Relations (IRR) has called on Parliament to reject the South African Reserve Bank (SARB) Amendment Bill, arguing that it is unconstitutional and economically unsound.

How AI Can Streamline Administration and Accounting in SMEs
Nexia SAB&T on 29/08/2025

How AI Can Streamline Administration and Accounting in SMEs

Small and medium-sized enterprises (SMEs) are increasingly turning to artificial intelligence (AI) to cut costs, improve efficiency, and reduce administrative burdens. From automating invoices to predicting cash flow, AI is reshaping the way smaller businesses manage their back offices.

NCOP Passes 2025 Appropriation Bill and Eskom Debt Relief Amendment Bill
Nexia SAB&T on 11/08/2025

NCOP Passes 2025 Appropriation Bill and Eskom Debt Relief Amendment Bill

The National Council of Provinces (NCOP) has passed the 2025 Appropriation Bill, completing South Africa’s budget process for the 2025/26 financial year. This legislation authorizes government departments and entities to spend allocated funds on essential services, infrastructure projects, and social programs such as healthcare, education, and social grants. It also supports initiatives aimed at economic growth and job creation.

U.S. Tariffs on South Africa: Economic Shockwaves and Strategic Responses
Nexia SAB&T on 11/08/2025

U.S. Tariffs on South Africa: Economic Shockwaves and Strategic Responses

The United States’ decision to impose a 30% tariff on South African exports marks a significant turning point in bilateral trade relations. Effective from August 2025, the tariffs apply to a wide range of goods, including manufactured products, automotive components, steel, aluminum, and certain agricultural exports. While critical minerals such as platinum and gold remain exempt, the measures threaten key sectors that underpin South Africa’s export economy.

AI Revolutionizes Operations in SMEs: A Game-Changer for Growth and Efficiency
Nexia SAB&T on 08/07/2025

AI Revolutionizes Operations in SMEs: A Game-Changer for Growth and Efficiency

In a rapidly evolving digital landscape, small and medium-sized enterprises (SMEs) are increasingly turning to artificial intelligence (AI) to streamline operations, enhance customer experiences, and drive growth. Once considered a luxury reserved for large corporations, AI technologies are now more accessible and affordable, enabling SMEs to compete on a more level playing field.

SARS Expands Auto-Assessment Program for 2025 Tax Season
Nexia SAB&T on 08/07/2025

SARS Expands Auto-Assessment Program for 2025 Tax Season

The South African Revenue Service (SARS) has launched its most ambitious auto-assessment initiative to date, marking a significant shift in how taxpayers engage with the annual filing season. The 2025 rollout includes not only standard taxpayers but also provisional taxpayers and individuals who have made withdrawals under the new two-pot retirement system.

SARS Tax Case Sends Strong Message on Trust Accountability
Nexia SAB&T on 09/06/2025

SARS Tax Case Sends Strong Message on Trust Accountability

A recent ruling by the Johannesburg Tax Court has sent a powerful warning to trustees, funders, and high-net-worth individuals: poor record-keeping and vague financial narratives will not shield you from SARS scrutiny.

New Fuel Levy Implementation Sparks Nationwide Debate
Nexia SAB&T on 09/06/2025

New Fuel Levy Implementation Sparks Nationwide Debate

The recent implementation of a new fuel levy has sparked widespread discussion across the country. Designed to address pressing economic concerns and boost revenue for critical infrastructure projects, the levy has been met with mixed reactions from citizens and industry stakeholders alike.

Understanding the Tables of Interest Rates: What Taxpayers Need to Know
Nexia SAB&T on 07/05/2025

Understanding the Tables of Interest Rates: What Taxpayers Need to Know

The South African Revenue Service (SARS) recently released updated Tables of Interest Rates, providing crucial information for individuals and businesses regarding tax obligations and financial planning. These tables outline interest rates applicable to outstanding taxes and those payable on refunds, ensuring taxpayers are informed about potential financial implications.

2025 Budget Review: Key Updates
Nexia SAB&T on 07/05/2025

2025 Budget Review: Key Updates

The Minister of Finance, Mr. Enoch Godongwana, has announced that the 2025 Budget Review will be re-tabled on Wednesday, 21 May 2025. This revised budget will include the Fiscal Framework, Appropriation Bill, Division of Revenue Bill, and amendments to revenue laws. The decision follows the reversal of a proposed 0.5% increase in the Value-Added Tax (VAT) rate, which will remain at 15%.

SMEs Embrace AI to Boost Efficiency and Competitiveness
Nexia SAB&T on 14/04/2025

SMEs Embrace AI to Boost Efficiency and Competitiveness

Small and medium-sized enterprises (SMEs) are increasingly turning to artificial intelligence (AI) to enhance their operations, improve customer experiences, and stay competitive in a rapidly evolving market. ​ A recent study published in the Journal of Business Management highlights the key AI applications being adopted by SMEs and the challenges they face in implementation. ​The findings reveal that while only 28% of SMEs have integrated AI solutions, those that have are seeing significant benefits. ​

The use of AI in SMEs
Nexia SAB&T on 14/04/2025

The use of AI in SMEs

Artificial Intelligence (AI) is revolutionizing the way small and medium-sized enterprises (SMEs) operate, offering numerous opportunities to enhance efficiency, improve customer experiences, and stay competitive. Implementing AI in SMEs can seem daunting, but with a strategic approach, it can yield significant benefits.

Amendments to the South African Companies Act
Nexia SAB&T on 14/04/2025

Amendments to the South African Companies Act

The recent proposal by the Minister of Finance to increase the Value-Added Tax (VAT) rate by 0.5% on 1 May has sparked significant discussion. One of the key points of contention is the implementation of this increase without parliamentary approval, as outlined in Section 7.4 of the VAT Act.

The Institute of Race Relations Report
Nexia SAB&T on 14/04/2025

The Institute of Race Relations Report

The Institute of Race Relations (IRR) has recently unveiled a report that underscores the substantial financial burden imposed by Broad-Based Black Economic Empowerment (BEE) premiums on South Africa. The report, titled "Cut VAT & BEE," estimates that the legitimate cost of BEE premiums in public procurement is approximately R17 billion per annum. To put this into perspective, this amount is equivalent to the cost of constructing around 42,000 kilometers of new paved roads, enough to stretch from Cape Town to Beijing and back.