Home » How The Budget Speech Will Really Impact Companies and Tax Practices

How The Budget Speech Will Really Impact Companies and Tax Practices

by Justin

Having seen the contents of the budget speech retold endlessly in the media, many business professionals are still no wiser about how their companies will be impacted by the announced policy changes.

To assist them, Tax Consulting South Africa will host a three-part webinar series to unpack practical insights and solutions that help to understand how you can progress in your business, as opposed to just understanding the theoretical policy changes revealed in the budget speech and media.

The 3-part ‘Tax Consulting SA Post-Budget Update Series’ promises to crack wide open the hidden implications of the announcements made in the budget speech after they are implemented.

The firm invites HR, reward, remuneration, payroll and tax professionals to register for these critical sessions and learn first-hand what they can do about the law and policy changes that have come into effect from 1 March 2023 – for this year and in 2024.

Independent industry expertise

Each webinar will be presented by Tax Consulting SA’s Managing Partner, Jerry Botha, an industry veteran with over 25 years’ experience in the audience’s individual professions and 15 years’ experience in hosting update analyses for the budget speech.

Having seen his business operations in each of these spaces survive the extremes of policy changes over the decades – and prosper – Botha is ideally positioned to offer wisdom on the subject of tax changes and how companies can benefit and grow from these changes.

This trilogy is the first of its kind in South Africa, with each part carefully crafted to reveal the magnitude of the budget’s disruption across three disciplines: HR and payroll professionals, tax practitioners and their practices, and reward and remuneration specialists.

The sessions are offered independently of any professional association, from a sense of corporate responsibility and to return practical knowledge to the professions, in addition to the theoretical information presented by the Finance Minister, Enoch Godongwana, in the 2023 budget speech. These webinars are created specifically to provide attendees with practical advice and tools they can take to back their companies to prepare them for the new regulations.

That said, the Institute of People Management (IPM) and the South African Institute of Taxation (SAIT) have been invited to offer their insights during the webinars.

What to Expect

Botha notes that the budget speech is often analysed only from an economic perspective. However, the professionals who must implement system, management and service level changes are typically left to blindly navigate the practical complexities with little preparation.

There are no other informative budget reviews that offer concrete guidance at that level, which is what makes the webinar series so unique.

The sessions will consider topics that the intended audience might find useful:

  • How should companies handle the new minimum wage limits?
  • What are the implications of the lower thresholds to approach the CCMA?
  • How will tax law changes for retirement funds affect employee packages?
  • How will new tax breaks and incentives affect the business and how should they manage this on their payroll?
  • What does 4.9% moving inflation do to their payroll and their ability to pay their employees?
  • What unspoken legal changes will be implemented to accommodate the budget provisions?
  • What are the knock-on effects on the rest of the business?

The three-part webinar series is as follows:

1. 2023 Budget Speech Update with the Institute of People Management (IPM): What HR Professionals Need to Know – 14 March 2023

2. 2023 Budget Speech and Your Tax Practice with the South African Institute of Taxation (SAIT) – 16 March 2023

3. Tax Consulting SA’s Budget Update for SA Reward and Remuneration Professionals – 23 March 2023

The first leg of this incredible webinar series has already taken off, with a strong attendance of HR and other professionals yesterday morning. Energies were high and the educational and informative presentations by the esteemed guest speaker, created a rich environment for interaction with the audience. We are overwhelmed by the support and success of this first webinar and hope to see you at the next two sessions.

Please see link below to register:

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