• ECB policymakers expect the Euro Area economy to recover at a slower pace, hurt by a slowdown in China and emerging markets although they were not sure yet about the severity of the impact.
• China's annual inflation rate was recorded at 2.0% in August of 2015, up from 1.6 percent in the previous month and above market forecasts.
• The Monetary Policy Committee voted by a majority of 8-1 to maintain the Bank Rate at 0.5% and unanimously to leave the stock of purchased assets at £375 billion at its October 2015 meeting
• The Reserve Bank of India cut its benchmark repo rate by a higher-than-expected 50 basis points to 6.75% on September 29th, 2015. It is the fourth reduction this year, bringing the rate to the lowest since April of 2011, as policymakers tried to bolster the economy.
• In Q2 2015, South Africa’s current account deficit improved sharply to -3.1% of GDP, from a revised -4.7% of GDP in Q1 2015. This was much better than market expectations for a deficit of around -3.7% of GDP.
• South Africa plans to return to the international bond market for the first time since July last year after fading prospects of higher US interest rates in 2015 opened a window of opportunity for emerging-market issuers.
• The IMF expects that global growth in 2015 will be lower than in 2014, but improve in 2016. Global real GDP grew at 3.4% in 2014, and is forecast to grow at only 3.1% this year, improving to 3.6% in 2016.

• Salary and wages, leave pay, bonuses, gratuities, commissions, fees, overtime pay, emoluments, other amounts paid for services rendered
• Allowances and advances
• 80% of any travel allowance
• Pensions, annuities
• Retirement lump sums
• Fringe benefits

• Fees paid to a person for services rendered in the course of any trade carried on independently. Examples include fees paid to auditors, medical practitioners lawyers, independent businesses

• They do not carry on a business in their own name i.e. sole trader. So if an individual carries on a business in their own name they are required to register for provisional tax even if the following two points apply.
• Their taxable income does not exceed the tax threshold for the tax year: or
• Their taxable income solely from interest, foreign dividends and rental does not exceed R30 000 for the tax year

 ‘Taxable income’ in this context is interest income after the interest exemption, foreign dividend income after the allowable deduction and rental income after allowable deductions/expenses.
In respect of point 2 above if an individual only earns ‘remuneration’ type income and his/her taxable income is above the threshold they will not be required to register for provisional tax.
In respect of point 3 above if an individual’s taxable income from interest, foreign dividends and rental exceeds R30 000 for the tax year but in aggregation with other forms of taxable income is below the tax threshold they will be required to register for provisional tax, complete provisional tax returns although the amount payable will be nil.


Tax threshold in terms of the 2016 tax year are as follows:
Under 65 years of age - R73 650.00
65 but below 75 years of age - R114 800.00
75 years of age or older - R128 500.00