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...
It has become a global phenomenon measuring Tax Freedom Day, the day up to which you work to pay your taxes – only after Tax Freedom Day do you start working for yourself. In 2018 it takes us South Africans 133 days or 39% of...
“Never take your eyes off cash flow because it’s the life-blood of business” (Richard Branson) The Companies Act is underpinned by the assumption of liquidity and solvency – directors and owners are mandated to ensure the business can meet all its short term obligations. The best way...
The new minimum wage provisions, originally due to start on 1 May but now reportedly facing delay due to the high number of submissions received from the public, will affect us all significantly. Assuming that the National Minimum Wage Bill’s provisions are enacted in substantially their...
“Digitalisation - the use of digital technologies to change a business model and provide new revenue and value-producing opportunities” (Gartner Glossary) Surveys show that small to medium-sized businesses (SMEs) are not fully aware of the potential that technology and digitalisation offers them. Achieving critical mass - a...
The “new” Companies Act of 2008 promised to place greater accountability and liability burdens on directors. This was in response to directors being given greater powers in the Act. Importantly, the Act does not distinguish between non-executive and executive directors. What is required of you as a...
For ease of reference please find below - The new tax tables for individuals and trusts (with notes). The new tax tables for Small Business Corporations. ...
George, the CEO of a company, was driving with his Finance Director, James, to a meeting. George had learned of a recent Tax Court case around stock values and was curious to know more. “James what does this stock case mean?” George asked. “Firstly, stock valuation has...