
Publication
Small business restructuring in Australia
From 1 January 2021, Australia’s insolvency framework for small businesses changed. The purpose of the change was to assist small businesses.
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Global | Publication | February 2018
In the Medium-Term Budget presentation in October 2017, finance minister Malusi Gigaba said that the deficit in the 2018/19 budget is expected to be R69.3 billion. Add to this increased tax of R15 billion that are reportedly required to fund “fee-free” higher education, and the targeted tax increases in the 2018/19 budget, and the deficit sits around the R80 billion mark - a staggering number.
It is likely that tax increases are in store which will be announced in the upcoming budget. A tactic of Treasury’s in recent years has been to introduce a raft of new taxes, which often passes by unnoticed by those footing the bill. It is interesting to sit back and reflect on the individual impact of the vast array of taxes and levies that are currently applicable, and those that will soon be applicable in South Africa.
It is evident that the South African tax base is subject to a wide variety of taxes already, which when looked at as a whole, place the tax base under significant pressure. On the eve of this year’s budget speech, all stakeholders await the inevitable tax increases and possible new tax announcements with much trepidation.
Publication
From 1 January 2021, Australia’s insolvency framework for small businesses changed. The purpose of the change was to assist small businesses.
Publication
In this edition of Regulation Around the World we review the position regarding beneficial ownership registers which has come into the spotlight following work by the Financial Action Task Force and the introduction of reforms in a number of jurisdictions.
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