In this brave new world of COVID-19, many people are working from home. Even after there is a cure for the virus, this trend will likely continue. Researchers at Harvard University have come up with some good ways to ensure you get maximum productivity and loyalty...
“An investment in knowledge pays the best interest” (Benjamin Franklin) The Companies Act 2008 places onerous duties on directors and if you do not meet these obligations, you risk personal liability for any damages flowing from these actions. “Knowing” in the company law context A director gets “knowing”...
The past few years have seen scandals emerging in both the private and public sectors. Steinhoff, State Capture, Eskom, the Guptas and Bosasa, to name a few, have revealed how endemic corruption has become in South Africa. The National Prosecuting Authority (NPA) is now beginning to...
We all know times are tough and many companies are embarking on cost cutting exercises. Unfortunately, this is a necessary procedure but think of the impact on staff morale and the potential loss of productivity when undertaking cost reduction. You don’t want to end up...
Until last year taxpayers had to accrue interest owed to them by SARS. This proved difficult for taxpayers as SARS can take a few years to refund the interest to you. This is exacerbated by the fact that SARS frequently adjusts the interest due to...
“Forewarned is forearmed” (Wise old saying) SARS is having trouble meeting its revenue targets and this is clearly putting enormous pressure on the South African economy. Further economic deterioration in the economy will probably result in a downgrade to junk status by Moodys. This will mean...
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...