Individual provisional taxpayers need to submit their first provisional form and payment by or on 30 August. Companies with year ends in either February or August need to file their first or second provisional returns and payments also by or on 30 August. Other deadlines this month...
This form is designed so that employers can easily reconcile their payroll taxes (PAYE, UIF and SDL). These taxes have proved difficult to reconcile and this redesigned form is intended to simplify this process. It is important to get this right to avoid paying penalties...
There is chronic unemployment in the country and it is especially felt by the youth where up to 50% cannot find a job. The Employment Tax Incentive (ETI) is designed to encourage companies to employ “youths” (between the ages of 18 to 29) for 1...
“Tax Freedom Day is calculated by dividing general government revenue by GDP at market prices, then multiplying the result by the number of days in a year, and finally adding a day” (Free Market Foundation) In the current year it will take the average South African...
Firstly, there are no major deadlines in June but tax season opens in July, so make sure you have all your documentation ready for your 2018/2019 Income Tax Return. SARS and Tax Ombud Sign Cooperation Agreement to Improve Service Then there is some good news - a...
Small business has limited resources and optimising these resources is a balancing act. Part of this balancing act includes the role of compliance. These requirements have increased as new laws are rolled out along with other regulations, such as BEE and FICA, which also need...
Your Employer Annual Reconciliation Declaration (EMP501) for the period 1 March 2018 to 28 February 2019 is due on or before 31 May. This relates to your monthly EMP201 declarations and IRP5s, IT3(a)s etc generated. Secondly the Department of Labour has extended the date for the...
This has been causing waves since SARS stated its intentions of making electronic services subject to VAT last year. Now the final regulations have been published and are effective from 1 April 2019. Of significance is the change in the definition of electronic services - in...
The Companies and Intellectual Property Commission (CIPC) has often been viewed as just an administrator and recorder of decisions made by companies. In February however, the CIPC issued a Compliance Notice to the Public Investment Corporation (PIC) instructing it to recover a R4.3 billion investment in...
“So much of what we call management consists in making it difficult for people to work” (Peter Drucker) In a recent interview of a prosecutor, he expressed surprise that most of the people charged with commercial crime were normal and honest. Yet in a recent survey...