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Weekly top stories


Incentives proposed to reward saving taxpayers
National Treasury wants people to look into taking up non-retirement savings products as the current household savings study paints a bleak picture of the future... read more>>



Finance
TMF Group acquires 100% of share capital of GMG
TMF Group has acquired 100% of the share capital of GMG Trust Company (SA), a provider of fiduciary services to the financial services industry in South Africa... read more>>
Ascendis concludes two B-BBEE deals worth R140m
Ascendis Health has successfully concluded two separate B-BBEE deals to the combined value of R140m with BEE investment partners WDB Investment Holdings (WDBIH) and Senatla Capital... read more>>
Development of SME sector critical for economic growth
The South African government took a significant first step in the right direction by creating the Department of Small Business Development (DSBD) earlier this year... read more>>
GDP grows by 1.4% in third quarter
PRETORIA: South Africa's Gross Domestic Product (GDP) increased by 1.4% in the third quarter, Statistics South Africa (Stats SA) said on Tuesday, 25 November. read more>>
Accounting & Auditing
Eskom records R9.3bn in profit
Eskom last week reported a profit of R9.3bn for the six months ended on 30 September 2014. This is down 24% from R12.2bn for the same period the previous year... read more>>
Banking
Integrated wholesale business by Nedbank is on the cards
Nedbank Group recently announced that Nedbank Capital and Corporate will be integrated into a single client-facing, wholesale business cluster... read more>>
Education & Training
OPFA embarks on community education campaign
The OPFA has embarked on a nationwide community education campaign to provide information on the role of the tribunal which is a dispute resolution body for employees and beneficiaries... read more>>
Financial Services
Two-pronged strategy the solution for pension funds
Pension fund actuaries face a substantial moral and professional responsibility to fund members in advising on, designing and maintaining sustainable retirement funds... read more>>
Commercial players pounce on distressed residential rental market
One of the significant developments in the corporate property finance market this year involved the rise in the number of commercial property players increasing their exposure to the residential rental market... read more>>
Markets & Investment
Green building rating attracts investment, funding
Green building's sustainability factor is attracting investment and funding to all kinds of businesses, especially listed property companies like REITs, as more and more capital owners place a high priority on responsible investment... read more>>
Taxation & Regulation
VAT is the elephant in tax-policy room
The Davis Tax Committee report and findings on base erosion and profit shifting may have a "significant impact" on future policy decisions... read more>>
Twin Peaks legislation expected to reach Parly in May
CAPE TOWN: A draft bill aimed at reforming South Africa's financial regulatory system is expected to be tabled in May 2015, the National Treasury said on Tuesday, 25 November. read more>>
Reportable arrangements: Proposed Replacements of existing notices

Megan McCormack

Section 35(2) of the Tax Administration Act, No 28 of 2011 (TAA), currently provides that an arrangement will be reportable, among others, if it is listed as such by the Commissioner for the South African Revenue Service (SARS) by public notice, and if the commissioner is satisfied that the arrangement may lead to an undue tax benefit... read more>>
International
Microsoft says it pays Chinese taxes after cryptic media report
BEIJING, CHINA: Software giant Microsoft said Wednesday that it pays Chinese taxes "consistent" with a China-US bilateral agreement, following a cryptic media report that a foreign company with similarities to it agreed to settle a multi-million dollar bill for back taxes... read more>>
More International
Government
State wastes, misspends R62bn
Irregular spending of public money by national and provincial government departments climbed from R27bn in the year to March 2013 to more than R62bn in the year to March... read more>>
AG's provincial audit results in numbers
Auditor-General Kimi Makwetu says provincial governments showed a lot of improvement in this year's audit cycle compared to the 2012/13 financial year... read more>>
More Government news
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