1 January 2014 not only saw the dawning of a new year but also the implementation of a new SARS employment tax incentive. Maybe SARS is finally starting to understand what exactly it costs most small businesses out there to simply comply with its mammoth legislative requirements. The thoughts behind this incentive scheme? Millions of […]
SARS Employment tax incentive Read More »
In the previous edition we touched base on the different options you as business owners have available to operate from as well as the implications each has on you as the individual.
Should you choose to run your affairs in your personal name, it is imperative that you have a legal Last Will and Testament in place, as this will ensure the smooth transfer of your assets to your beneficiaries.
To Trust Or Not To Trust – Part 2 Read More »
Our quick 10 point reference guide will enable you to file your tax return early and honestly and avoid the last minute rush. Silly season is underway and it is reported that more then 500 000 Individual Tax Payers filed their tax returns on Monday 1 July 2013. We have compiled these 10 tips to make
File your tax return – Silly season now open! Read More »
Understanding the intricacies of property transfer and tax implications is crucial for individuals in South Africa. Transferring a property without incurring tax expenses is a goal that many aspire to achieve. In this comprehensive guide, we will explore the various aspects of property transfer and provide valuable insights on how to navigate the process while
How To Transfer A Property Without Paying Tax Read More »
Everyone owning a business weighs up the scales of risk and reward on a daily basis. The only way to be successful is to ensure that you take calculated risks. Unfortunately from time to time, unforeseen circumstances do happen and could place your business and inherently y our own future at stake.
3 Easy Steps To Ensure The Survival Of Your Business Read More »
Minister Pravin Gordhan recently held the new National Budget Speech for 2013. This is a quick summary of changes to the new 2013/14 tax rates as well as other items affecting the every man on the street.
Budget Speech 2013 – How it affects you Read More »
Compensation Fund admits system is shambolic By Wiseman Khuzwayo Despite a promise last year by Labour Minister Mildred Oliphant that the implementation of the Compensation Fund turnaround strategy to improve and fast-track service delivery was at an advanced stage, the fund admitted yesterday that it was still in a lamentable state. The fund is managed
Compensation Fund admits system is shambolic Read More »
The new Companies Act, 71 of 2008 has numerous changes for the appointment, resignation, removal, obligations and duties of directors.
The Act introduces a partial codification of directors’ duties, which includes both a judiciary duty, and a duty of reasonable care, which operate in addition to existing common law duties.
Important Notes For Newly Appointed Directors Read More »
When submitting your VAT return, according to certain parameters, SARS now has the discretion to audit the calculation of the return, whereby the vendor is required to submit to the receiver proof of the turnover declared as well as the expenses claimed.
We recently experienced that the input tax of a large number of VAT vendors were disallowed.
5 Reasons Why You Could Fail A SARS VAT Audit Read More »
Public Benefit Organisations (PBO’s) are established to conduct activities which benefit the general public. Due to the nature of their work, the Income Tax Act allows PBO’s to carry on certain activities on a tax-free basis.
Organisations wanting to benefit from the tax exemptions granted by the Income Tax Act need to obtain approval from the Receiver of Revenue (SARS).
Income Tax Act Benefiting Public Benefit Organisations (PBO’s) Read More »
