Details

  • Type: Publication series
  • Date: 4/29/2014

South Africa – In Budget 2014, Changes Planned for Savings and Retirement 

South Africa’s budget contains, in addition to the standard changes to the personal income tax thresholds, rebates, and credits, amendments to the retirement lump sum tax tables. Further, proposals have been made relating to the creation of a tax-preferred savings accounts, the tax treatment of life and insurance disability premiums, “key-person” insurance policies, the timing of the accrual of retirement fund benefits, company car benefits, employer-provided residential accommodation, and additional information on the Employment Tax Incentive. A Draft Taxation Laws Amendment Bill is expected to be released in July 2014 containing further detail of these proposals.

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South Africa – In Budget 2014, Changes Planned for Savings and Retirement
 

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