It specially designed for film makers, vfx artists, game developers, modellers and animators.Īutodesk Maya 2022delivers new features, performance improvements, and artist-friendly tools that greatly enhance the whole Maya experience. Autodesk Maya provides a wide variety of advanced tools for simulating particles, fluid, cloth and hair. Maya is an advanced 3D animation software that provides a comprehensive suite of tools for animation, 3D modeling, rendering, simulation, texturing and composing. This post was based on a press release issued on behalf of Tax Consulting SA.Autodesk Maya is a powerful software for creating animations, it commonly used by professional animator and CG artist to create incredible animations. Beyond that, SARS has intensified its enforcement against criminal activities and the recommendations from the Nugent Commission and the State Capture Report are being implemented. SARS has recruited 490 additional staff members and R430 million has been invested to improve its ICT infrastructure. SARS updateĪs has been the trend with more recent Budget Review speeches, the minister reaffirmed that SARS is continuously improving its capabilities. In addition to the amendments proposed under Annexure C (which will be introduced with the Tax Bills later this year), it is further indicated that Government is reviewing the personal income tax regime for remote working arrangements, as well as the exemption of foreign retirement benefits. Coming tax amendmentsĪnnexure C to the Budget Review notes additional tax amendments that may be included in the upcoming legislative cycle. A proposal to impose a flat excise tax on vaping products will be included in the upcoming legislative cycle. Similarly excise duties on tobacco products will increase by 5.5% – 6.5%. Sin taxesĭespite calls from the industry for excise duties on liquor not to increase, it is proposed that these duties be increased by 4.5% – 6.5%. The transitional support measures afforded to companies in the first phase, such as significant tax-free allowances and revenue‐recycling measures, will continue over this period. In addition to an increase in the carbon tax rate, the first phase of the carbon tax will be extended by three years for the period 1 January 2023 to 31 December 2025. The incentive will increase from a maximum of R1 000 to a maximum of R1 500 per month in the first 12 months and from R500 to a maximum of R750 in the second 12 months of eligibility. The value of the employment tax incentive is increased by 50% from 1 March 2022. The additional information will also help in determining the levels and structure of wealth holdings as recommended by the Davis Tax Committee. To assist with the detection of non‐compliance or fraud through the existence of unexplained wealth, it is proposed that all provisional taxpayers with assets above R50 million be required to declare specified assets and liabilities at market values in their 2023 tax returns. Stronger enforcement against wealthy taxpayers As promised, however, the Budget Review confirms that the process of renegotiating the applicable treaties will be initiated this year, which may eventually enable Government to implement the proposal. The proposal to impose a tax on retirement interests when taxpayers cease residency was withdrawn last year, as it was at cross-purposes with South Africa’s treaty obligations. Importantly, it must be borne in mind that this announcement triggers the limitation of assessed losses that may be carried forward to the higher of R1 million and 80% of the company’s taxable income, which will take effect at the same time. ![]() To attract foreign investment, the corporate income tax rate is reduced by 1 percentage point to 27%, effective for tax years ending on or after 31 March 2023. ![]() The general fuel levy and Road Accident Fund levy will both remain unchanged for the first time since 1990, while personal income tax brackets and rebates will be adjusted for inflation by 4.5%. Therefore, rather than increasing rates, the current policy is to focus on broadening the tax base. The Budget Review noted that increasing the top tax rates yields marginal returns. Government refrained from increasing personal income tax rates. Finance minister Enoch Godongwana delivers his budget speech to Parliament Tax rates have not been increased
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