“Beware of little expenses; a small leak will sink a great ship.” (Benjamin Franklin) When a company is struggling with cashflow, or simply looking to improve profitability, the directors will often consider making grand sweeping changes like retrenching staff, slashing the marketing budget or even selling off resources. While this Read more
“…it is vital that all stakeholders in the digital ecosystem, including the taxpayers, SARS, and the banks, work together to prevent and combat profile hijacking.” (SARS) The recent spike in the number of SARS eFiling profiles being hacked by cybercriminals should raise red flags for every taxpayer. It’s got so Read more
“Your brand is what other people say about you when you’re not in the room.” (Jeff Bezos) You have a great product or service that fills a need. You are doing your marketing. Your accountant has helped you streamline your cashflow and provided you with your financial forecasts. You are Read more
“The interim reconciliation process has become an integral part of the employer reconciliation and assists employers…” (SARS) Employers are assisted by the interim EMP501 reconciliation, says SARS, because it makes it easier to: make more accurate annual reconciliation submissions maintain an up-to-date employee database register employees for income tax purposes Read more
07 October – Monthly PAYE submissions and payments 21 October – End of filing season for individual taxpayers (non-provisional) 25 October – Value Added Tax (VAT) manual submissions and payments 30 October – Excise duty payments 31 October – VAT electronic submissions and payments, Corporate Income Tax Provisional Tax payments Read more
“The two-pot system is meant to support long-term retirement savings while offering flexibility to help fund members in financial distress.” (National Treasury) With two new pots added to what used to be the one-pot South African retirement system, fund members can now access a portion of their retirement savings before Read more
“There are no shortcuts when it comes to getting out of debt.” (Dave Ramsey, finance journalist and author) Most businesses have debt of some kind or another. Whether you need help to buy stock, maintain equipment or even fund a property, it’s likely that at some stage in your business’ Read more
“It takes 20 years to build a reputation and 5 minutes to ruin it. If you think about that you will do things differently.” (Warren Buffett) During tough economic times it can be tempting to illegally cut corners, hire staff at lower salaries, or avoid paying taxes you know you Read more
“A Trust is a ‘person’ for tax purposes and is therefore a taxpayer in its own right.” (SARS) With Tax Season 2024 for trusts opening on 16 September, there’s no better time to draw trustees’ attention to SARS’ continued emphasis that all trusts must register for income tax purposes, including Read more
06 September – Monthly Pay-As-You-Earn (PAYE) submissions and payments 16 September – Start of Filing Season 2024: Trusts 25 September – Value Added Tax (VAT) manual submissions and payments 27 September – Excise duty payments 30 September – VAT electronic submissions and payments, Corporate Income Tax Provisional Tax payments where Read more