South African Institute of Professional Accountants

SAIPA hosts events throughout the year and also showcases its designation at Accounting and Tax related events as well as the annual budget breakfast.

With Sona postponed by the South African Parliaments, the Budget Speech has been set for February 22nd, 2018 and SAIPA invites members and non-members, to the annual SAIPA Budget Breakfast 2018. There will be Discussion on the impact of the Budget Speech with an esteemed panel of expert speakers, let engage in conversation on the country’s economic challenges and plan your direction for 2018.

Leading economists will provide their views on the budget highlights, including the viability of National Treasury’s budget and economic forecasts as well as an overall assessment of the economy and government’s policy strategies to uplift growth/employment.

A panel of experts in financial regulation will address the latest National Treasury initiatives dealing with the regulation of various investment vehicles, including offshore investments (such as exchange control).

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SAIPA is embarking on creating a curriculum for a university degree that is focused on the Public Sector. This curriculum will cover the continent of Africa. In collaboration with PAFA (Pan African Federation of Accountants), they are making inroads and this initiative is being warmly received by the professional institutes throughout the continent. Professor Rashied Small joins us to explain this.

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There has been a lot of testimonies after the successful completion of the South African Institute of Professional Accountants’ (SAIPA’s) National Accounting Olympiad (NAO) in 2017 and also a growing interest in the program, the institute has again invited entries from Grade 11 and Grade 12 learners that are currently taking Accounting as a school subject, and who wish to follow a B.COM degree as further study.
The entries officially closed on 25 April 2018, Kerry joins Nqobani to discuss some of the success stories so far and also shed more light on the important dates for 2018.

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SAIPA's Education, Training, and Membership Executive, Professor Rashied Small to talk about SAIPA in the public sector accounting in South Africa and what SAIPA is doing in terms of education, policy &Regulations and generally ensuring accountability within the South African public sector.

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In a statement recently released by The South African Revenue Service (SARS), "normal income tax rules" will continue to apply and taxpayers must declare profits or losses on any cryptocurrency dealings.
The onus is on taxpayers to declare all cryptocurrency-related taxable income in the tax year in which it is received or accrued. Failure to do so could result in interest and penalties.
Gains or losses in relation to cryptocurrencies can broadly be categorized differently, with distinct tax consequences for each scenario, for example, Investors can exchange local currency for a cryptocurrency, and Goods/Services can be exchanged for cryptocurrencies.
Some taxpayers may be under the impression that many of these cryptocurrencies do not even keep a record of whom it belongs to, So how is SARS going to know who has what cryptocurrencies?
“Taxpayers who are uncertain about specific transactions involving cryptocurrencies may seek guidance from SARS through channels such as Binding Private Rulings (depending on the nature of the transaction),” said SARS.

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