R13.5bn in tax relief on the cards

first_imgHe said that in order to improve the equity of the income tax system and broaden the tax base, the treatment of travel allowances would be reformed. This meant that the “deemed kilometre method” for deducting travel expenses would be repealed with effect from 1 March. “For pre-retirement lump sum withdrawals from retirement savings, the first R22 500 will be tax-free,” he said. “This concession will allow taxpayers significant tax relief in instances where circumstances beyond their control force them to make use of their retirement savings due to involuntary unemployment,” he said. Gordhan said the draft laws contain the tax proposals announced in the February 2009 Budget Speech by previous finance minister Trevor Manuel, and elaborated on in the 2009 Budget Review. Gordhan said that, given concerns about the plight of workers losing jobs in the economic crisis, the draft laws propose that withdrawal from retirement funds on retrenchment will qualify for the R300 000 exemption. Gordhan said other important amendments related to the taxation of lump sum withdrawals from retirement savings before retirement and on retrenchment, especially in the current economic environment. “A significant simplification of the tax treatment of lump-sum payments from retirement savings upon retirement, and pre-retirement lump sum withdrawals, will be implemented as from this year. “For individuals, the most important amendment was the adjustment to the personal income tax thresholds, which resulted in tax relief for individuals estimated at R13.5-billion,” he said. 2 September 2009 “This amendment will eliminate an unintended subsidy for commuting by car,” he said.center_img Retrenchment In addition, and to limit potential abuse, all lump-sum withdrawals and payments will be aggregated over the life of the taxpayer, meaning that once the tax-free portion has been used, it cannot be used again; subsequent lump sums will be taxed at higher marginal rates. Source: BuaNews For technical reasons, he said, the amendments are split into two Bills – a money Bill (under section 77 of the Constitution) and an ordinary (or section 75) Bill. The 2009 Taxation Law Amendment Bills will result in South Africans receiving tax relief of R13.5-billion, Finance Minister Pravin Gordhan said in Pretoria this week. The marginal tax rates on larger lump sums range from 18% to 36% for lump sums in excess of R900 000. In the case of a lump sum upon retirement, the first R300 000 is tax-free, and the marginal tax rates also range from 18% to 36% for lump sums above R900 000. Retirement savings Gordhan said that, in a bid to encourage people to preserve their retirement savings for the time they actually retire, the law provides for a more generous tax-free amount upon retirement.last_img read more


Etsy Bans Body-Part Sales. Where Do I Find Them Now?

first_imgIt’s right there in fine print: “No human remains or body parts (excluding hair and teeth).”This month the community sale site Etsy changed its sales policy and banned human skulls, bones, skeletons, organs and bodily fluids. That means, right up until an August 8 policy change, you could have bought and sold all that and more on the site.Looks like people have to look elsewhere for blood and bones. But fret not, fetishists. Hair and teeth are still acceptable trade goods on Etsy. Why, exactly? In a recent blog post, Etsy cited a desire to maintain a safe community. Etsy wouldn’t comment for this story, but the posts says the change was made to reflect the perspective of Etsy’s shoppers and the company itself. Hmm. Does this mean people weren’t buying the human skulls anymore, or maybe there was some kind of legal crackdown we’re not aware of. In addition to the body part ban, the site also just cracked down on the sale of crack pipes – good job! Maybe the site’s management felt like it was time to cleanse body and soul?Etsy’s staff is contacting violators and explaining the rule changes in an effort to shut down human body part traffickers. The site is also asking members to contact Etsy if they find banned items (which also include firearms and smoking products.)All the same, Etsy isn’t going after purveyors of animal parts, such as a preserved doe deer heart on sale for $75. Yup, a deer heart in a jar for less than a hundred bucks. What a steal!Photo by echiner1 Related Posts Why Tech Companies Need Simpler Terms of Servic… A Web Developer’s New Best Friend is the AI Wai… 8 Best WordPress Hosting Solutions on the Marketcenter_img adam popescu Top Reasons to Go With Managed WordPress Hosting Tags:#health#web last_img read more


10 Free Apps for Filmmakers

first_imgThese 10 free apps make filmmaking easier.If you’re out on-set or on-the-go, these filmmaking related apps that can be quickly accessed on your phone or mobile device. From camera manuals and data calculators to focus charts and production forms, we’ve unearthed some of the best filmmaking related titles from the App Store. The best part – they won’t cost you a thing.All of the apps below are available for Apple devices (iPhone, iPad), but some may be available for Android devices as well. Do you use any of these apps? Got others to recommend? Let us know in the comments below!1. Cinema FormsCinema forms is designed to help you go paperless on-set. The app has a number of commonly used filmmaking forms that can be saved on the device, so you can focus on the film, not keeping up with papers. This app is only available for iPad, but if you are looking for a way to have all your forms in one place, it’s a great option. There is an additional “Pro” version for $30 that gives you access to all the forms beyond the initial 13 you are given in the free version.2. GoboGobo is a digital directory with commonly used filmmaking terms. It is meant to be a resource for filmmakers who may be new to the film industry. From video formats to color temperature charts you’ll find lots of good information here.3. LVRUSALVRUSA is designed as a pocket manual for some commonly used cameras in the industry. Here you’ll find various useful information like how long you can record on a certain card and the crop factor for an APS-C sensor. LVRUSA also has dozens of camera manuals on file making it incredibly easy to reference. Our friends over at the BlackandBlue.com also have a set of camera pocket guides for nearly every professional camera – definitely worth checking out.4. AJA Data CalculatorThe AJA Data Calculator does exactly what you might imagine a data calculator should do, it calculates how large your file sizes will be for various shooting scenarios. In the app users can select a variety of codecs and file formats for both video and audio. You don’t have to be shooting on an AJA camera for this app to be useful to you.5. Kodak Cinema ToolsThe Kodak Cinema Tools app is designed as a resource for filmmakers and photographers alike. In the app users have access to a sunrise/sunset calculator, depth of field calculator, & film run time calculator, along with various other useful apps. This app may have been designed for those shooting on actual film, but it is definitely useful for digital shooters as well.6. Panascout LiteUnfortunately Panascout doesn’t turn your iPhone into a Panavision camera, but it is a location scouting app that allows users to take pictures of potential locations with GPS data attached. The app also allows users to account for varying aspect ratios and crop factors so you can get a good idea as to what the framing will be once your get your camera there. Panavision Lite also comes equipped with a sunrise/sunset indicator7. Magic HourMagic Hour is less about pre-production and more about incorporating filmmaking/photography into you everyday life. As you probably already know magic hour is the special time of day where lighting and colors are perfect for capturing photos and video. This app gives you a push notification every day when magic hour begins.8. Celtex ShotsCeltex Shots is an app designed to assist users in creating storyboards and on-set blocking. Using the available icons, users can drag and drop lights, subjects and props into the scene, making it easy to share blocking ideas with crew members. The app also allows users to share storyboards with other crew members by sending stills via email in a variety of formats. Users can also save stills to their photo roll for easy sharing and access on-set.9. SMAPPSMAPP has a useful lens selection tool that helps determine what lenses you’ll need for certain shooting situations. It also has a packing tool that provides a list of recommended equipment to pack for different scenarios. One of the best features is the stabilization recommendation tool – which will tell you if you should use a monopod, tripod, slider, glidecam, etc, based on the type of shooting you’re doing. These features, plus built-in tutorials, make this a must-have filmmaking app.10. Focus ChartTrying to check the focus of your lens? With the free Focus Chart app you can easily test and focus your lens. There aren’t a lot of bells-and-whistles here, but if you do a lot of lens calibration you might want check out this free app.last_img read more