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April 2017

Don’t Be Caught by These Common Scams - Part 4

Phishing e-mail scams Phishing is defined by Wikipedia as “…the attempt to obtain sensitive information such as usernames, passwords, and credit card details (and sometimes, indirectly, money), often for malicious reasons, by masquerading as a trustworthy entity in an electronic communication.”

Ruan Strydom
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Proposal to Amend Foreign Employment Income Tax Exemption

Currently, if a South African resident is employed and works abroad for more than 183 days of which 60 days are continuous within a 12 month period, the employment income earned is exempt from tax in South Africa. This is commonly called the section 10(1)(o) exemption. Following the Budget announced on 22 February, this is now under attack.

Grant Ward
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At Last, Clarity on Tax Implications for Non-Executive Directors

For many years, there has been uncertainty on how to treat fees paid to Non-Executive Directors (“NED”) in relation to value –added tax (“VAT”) and pay as you earn (“PAYE”). Following the issuing of two binding general rulings by SARS, certainty is now created for taxpayers.

Grant Ward
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