Belasting nuus/ Tax news:                                                                                                                      The closing of tax-loopholes: foreign pensions and foreign employment income: In the 2017 National Budget Speech there has been met with diverse and varying opinions from South Africans across every segment of the economy that is following a R30 billion Shortfall from the previous year. South Africa has a residence basis of taxation, ‘residents’ are liable for payments of income tax on their worldwide income. Section 10(1)(o)(ii) of the Act offer foreign employment income tax exemption, an individual is exempt to paying tax on the foreign employment income irrespective of whether the individual is a SA tax resident or not. Many people has taken advantage of the foreign income by accepting employment in countries that doesn’t levy income tax or which have very low rates of income tax. The result of this is that income is not subjected to tax in that foreign jurisdiction and the income is exempt from income tax in SA due to the exemption being applicable. A Proposal was made to restrict the use of exemption in respect of income that is earned in ‘tax havens’. Therefore if the income is not subjected to income tax in that foreign country it will not enjoy tax exemption in SA. (by Denzel Ohlson. Legal advisor, Momentum Field Marketing)(March 2017, Legal and Technical Update, Leverage)(26985772)

belasting van individue in Australia/ Tax of individuals in Australia:

• The Federal Government of Australia has jurisdiction tax to Australian residents on their income from worldwide sources and non-residents on only their Australian sourced income, a progressive scale system is used by Australia for the purpose of taxing individuals, under the progressive scale system the rate of tax payable increases as taxable income increases.
• FBT(Fringe Benefits Tax) is on the value of non-cash benefits provided by employees, therefore benefits must be connected to the employee’s employment in order to be taxable(FBT is levied on the provider of the benefit at a flat rate of 46,5% and may be deductible against employer’s taxable income.
• Medicare Levy : (Australia’s public health insurance scheme is know as Medicare) The Medicare Levy is imposed at a flat rate of 1.5% of an individual’s taxable income there is also a exemptions that us given to low income earners and foreign residents
• Medicare Levy Surcharge :the Medicare Levy Surcharge is at a additional flat rate of between 1-1.5% imposed on high income earners who doesn’t have private hospital insurance.
• Luxury car tax: Luxury car tax is at a flat rate of 33%  when a luxury car is sold or imported into Australia, certain rules specify what amount and circumstances it will attract the luxury car tax, although generally applies to cars that is valued over either $60 000 or $ 75 000 (depending on the fuel consumption of the luxury vehicle).
• (http://hallandwilcox.com.au/a-guide-to-taxation-in-australia/)

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