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...
“If only there was some kind of an infinite power source that was free to use all day every day…” (Anon) In a recent binding ruling, SARS confirmed it will allow the cost of solar power units. The capital costs that may be deducted are: Photovoltaic solar...
The Companies Act gives directors wide powers to manage the organisation – the Act states “The business and affairs of a company must be managed by or under the direction of its board”. In a recent case a furniture company ran into economic difficulties and...
“I approach every problem with optimism” (Nelson Mandela) The mood of optimism that pervaded a year ago is rapidly fading – the Business Confidence Index is on a steady decline. Every 1% rise in business confidence results in 0.5% growth in the economy – as President...
"There are two systems of taxation in our country: one for the informed and one for the uninformed." (U.S. Judge Learned Hand) Whether you have recently started a new venture or have had a small business for a while don’t forget that SARS offers two types...
There are only run-of-the-mill tax deadlines in April, but some interesting information emerged from the recently-released 2018 edition of SARS’ Tax Statistics - For the first time since the Global Financial Crisis the increase in tax revenue collected lagged behind GDP growth. This reflects that (a)...
"If governments tax products like sugary drinks, they can reduce suffering and save lives. They can also cut healthcare costs and increase revenues to invest in health services" (World Health Organisation) The Sugar Tax was introduced last April and has met with a mixed response. The Sugar...
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...