Short summary of the Budget Speech 2018

Short summary of the Budget Speech 2018

As most South Africans are aware, the national Budget Speech for 2018 was held on 21 February 2018. After quite a lot of turmoil in Government, and the election of a new President, everyone eagerly awaited the Budget Speech this year for some positive economic news....
What is a bona fide inadvertent error?

What is a bona fide inadvertent error?

Section 222 (1) of the Tax Administration Act (the “TTA”) provides that where there has been an understatement, the taxpayer must pay the understatement penalty determined unless the understatement resulted from a bona fide inadvertent error. In terms of Section 221,...