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...
The new Minister of Finance didn’t have much time to prepare for the Medium Term Budget Speech (MTBS) but he carried it off well.The MTBS is a three year outlook for the government budget and was introduced by Trevor Manuel to increase transparency into our...
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...
“The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails” (William Arthur Ward)As we wind down from a challenging year, perhaps it’s a good time to reflect on how we can make sure that 2019 is a year...
There are only run-of-the-mill tax deadlines for November but companies need to take note of a new warning from SARS that it will be imposing administrative penalties from December 2018 for outstanding Corporate Income Tax (CIT) returns. Until now, penalties have only been imposed for...
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...
“Hubris … extreme or foolish pride or dangerous overconfidence” (Wikipedia) There is so much information going around that it is almost impossible to see through it all and make informed decisions. As Johann Rupert says, if he could accurately predict the time when shares are going...