Low-income earners will suffer if tax benefits for bursaries and scholarships are changed
Treasury pushed to amend Income Tax Act, saying salary arrangements have often been abused
In a bid to curb tax abuse and boost the state’s fast-dwindling coffers, the National Treasury is pushing to alter the Income Tax Act, potentially making it harder for thousands of low-income families to receive tax-exempt bursaries for their family members.
The bill on the proposal was recently passed by the National Assembly, and the National Council of Provinces (NCOP) concurred during a vote on Tuesday. It is now awaiting President Cyril Ramaphosa’s signature before promulgation...