Author: Imali-admin

Tax season is now open, tips you need to know

South Africa’s tax season for individuals officially opened on Sunday for eFilers, with branches around the country accepting submissions from Monday (2 July). One of the key changes this year is the shortening of the deadline for non-provisional taxpayers. “A shorter filing season allows additional time for SARS, taxpayers and the tax fraternity to deal with return verifications before most taxpayers go on the December holiday break,” SARS said in a statement in June. “Often there are delays with taxpayers having to respond to our queries and requests over the holiday break. The quiet period after the first three months of...

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New Mandela banknotes and coins will hit your wallets next week

The new series of banknotes and R5 coin designed to celebrate milestones of former president Nelson Mandela’s life will go into circulation next week Friday. “Every commemorative banknote and the R5 circulation coin tell a story of Madiba from a milestone chapter in his life‚ from his humble beginnings in Mvezo‚ to his pursuit of justice in Soweto‚ to his courage on being captured at Howick‚ to his perseverance on Robben Island‚ to the sense of community he showed at his inauguration at the Union Buildings‚” the South African Reserve Bank (SARB) said in a media statement on Tuesday....

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Mkhize denies urging municipalities to invest in VBS

Cooperative Governance and Traditional Affairs (CoGTA) Minister Zweli Mkhize has denied claims made by United Democratic Movement leader Bantu Holomisa that he urged municipalities to invest money in VBS Mutual Bank. “I want to specifically state and categorically deny that I ever engaged either the PIC [Public Investment Corporation] or any municipality to support VBS Mutual Bank. “The insinuation that when I engaged with business it was with the unscrupulous intention of doing them a favour or using undue influence for them to secure work, contracts or deals with government departments, municipalities or State-owned entities is false, unfounded and...

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What happened at VBS Bank?

As VBS Mutual Bank’s spectacular crash reverberates across the country, an accurate account of how the promising black bank sank has to be told. The current refrain and single-track narrative that VBS collapsed under the weight of an inept and rapacious black management, is at best inaccurate and at worst a fabrication. In the absence of facts, the prevailing narrative sponsored by some with vested interests and a twitter mob desperate for retweets, a fair and balanced analysis is rare. But the truth is there to find. A closer look at VBS will show that the catastrophe was the...

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A million SASSA beneficiaries swap to new card

The South African Post Office (Sapo) has swapped over one million social grants beneficiaries to the new South African Social Security (SASSA) card which is being issued by Postbank. “The first million beneficiaries do not include those beneficiaries that have willingly opted to take up Postbank Mzansi accounts as their preferred payment method,” Sapo COO Lindiwe Kwele. The Post Office has been gazetted as the preferred payment channel for all social grants in South Africa. The old white SASSA card will be phased out by 30 September and should be exchanged for the new gold SASSA card. Card swapping...

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