Senators on both sides of the political divide yesterday locked horns over a timeline for eliminating the asset tax paid by financial institutions, which should have been phased out about a decade ago. Members of the Upper House were debating two bills – the Income Tax Amendment Act, 2026 and the Asset Tax (Specified Bodies) (Amendment) Act – which provide for a limited adjustment to the annual filing and payment dates of both taxes, moving the final returns and payment dates from March 15 to April 15, starting with the 2025 year of assessment. Read more