The ABC on Tax

Benjamin Franklin, one of the founding fathers of the United States coined the often-used phrase: ‘In this world nothing can be said to be certain, except death and taxes.’ Fast-forward decades later and many people find themselves struggling to comply with tax legislation, mainly as a result of ignorance rather than malicious intent.

In carrying out its mandate to deliver holistic financial services education, GIFS has been hosting a series of thought-provoking Insights Session webinars this year on behalf of the Insurance Institute of Gauteng (IIG). GIFS’ CEO Dr Kershen Pillay, as an industry thought leader, has effortlessly moderated the panels that have discussed job creation; how to tackle corruption; and now how to structure companies for the best possible tax relief.

Seasoned tax professional Mr Johan Heydenrych was the keynote speaker in the last IIG thought leadership session of 2023. The 60-minute webinar provided immense value for the audience that had the benefit of Heydenrych sharing his more than 30 years’ experience navigating through tax matters.

Mr Thabo Twalo, the President of the IIG, welcomed the attendees who were privileged to be racking up CPD points just by attending the session. Twalo poignantly reflected that a country’s tax regime is a window into its priorities.

Heydenrych walked the audience through various scenarios on why tax legislation is a cornerstone of democracy. While tax matters can be weighty for the average person, Heydenrych carefully explained the importance of establishing good tax practice while deciding on the type of company to start up.

Here are his top tips to ensure taxation is a seamless and not stressful process:

  • Find a trusted tax advisor who’s not afraid to consult peers
  • Your tax advisor must take the time to understand your needs as a client
  • The advisor must understand the regulatory environment
  • Before you start your business, get a tax advisor to advise you on your tax structure


Watch Heydenrych demystify business tax here: