What are the tax implications of Ramaphosa’s announcement?

On Tuesday evening President Cyril Ramaphosa announced that 35% of Pay As You Earn can now be deferred.

Businesses with a turnover of over R100 million can apply to SARS directly

for deferrals of their tax payments to increase cash flow with no penalties.

Those who donate to the Solidarity Fund will also qualify for a tax break.

Judge Dennis Davis, the Chairman of the Davis Tax Committee, joined us for more on the topic.

Photo: Flickr