Taxpayers and tax practitioners have in recent months been surprised to find their medical claim tax credits queried by SARS. Up to this year the processing of the tax credit has gone smoothly.To many taxpayers such as those with disabilities, pensioners and lower income taxpayers...
Cabinet has approved the most wide ranging amendments to the Companies Act (the Act) since its launch in 2011.Some of the important issues are briefly highlighted below. They are of course only proposed changes at this stage, published for comment and therefore subject to alteration...
SARS have instructed that taxpayers on eFiling need to submit supporting documentation as follows:Files should be no more than 5mb each. You can upload up to twenty files.Document types need to be: Excel (xls or xlsx) or Word (doc or docx). You may also use...
Many taxpayers are experiencing frustrations in their dealings with SARS. The Tax Ombud is there to assist taxpayers if they have experienced: Procedural difficulties Service issues Administrative problems and the taxpayer has exhausted all avenues of appeal with SARS with respect to SARS dispute procedures. However,...
One of the advantages of the technological revolution is that advances move swiftly down the cost curve. Accounting software for small and medium-sized enterprises (SMEs) has now become much faster, more secure and cheaper. It gives businesses real time information and thus makes SMEs more...
Recently the Labour Court ruled in favour of an employee who was dismissed for failing to produce a required medical certificate. The employee had a history of absenteeism. Going AWOL 21 to 24 December The employee had a medical condition which the employer was aware of. In...
Catastrophes like floods and fires do occur and there is insurance to cater for these types of events. There are two different types of insurance cover for these events – one to repair or replace the assets damaged (your normal insurance policy) and one to...
There are only run-of-the-mill deadlines this month. It is worth getting your filing and workpapers ready for your 2018 tax return as filing season opens in July. Tax Scams Be alert to yet more scams involving SARS, such as fraudulent emails which say you owe interest to SARS...
The Companies and Intellectual Property Commission (CIPC) will from 1 July 2018 require that all Annual Financial Statements (AFS) submitted to the CIPC be in eXtensible Business Reporting Language (XBRL) format. What is XBRL and what are its benefits? It is a global standard for digital reporting....
The EU’s General Data Protection Regulation (GDPR) became enforceable on the 25th of May. It is regarded as the world’s most comprehensive legislation protecting private data. GDPR may be applicable to South Africans if your business provides goods or services in the EU, and in certain...