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R22 billion tax blow for South Africa – ‘difficult trade-offs’ coming
03 Nov 2024 • Tax
Enoch Godongwana, the Finance Minister of South Africa, recently spoke about worries over the South African Revenue Services (SARS).
The Medium-Term Budget Policy: What It Means for Accountants
01 Nov 2024 • Accounting
The recent Medium-Term Budget Policy Statement (MTBPS) by Finance Minister Enoch Godongwana presents a pro-growth agenda. This agenda aims to change our nation's economic landscape.
When Should an Accounting and Tax Practitioner Walk Away from a Client?
01 Nov 2024 • Tax
For accountants and tax professionals, keeping good client relationships is important. However, there are times when it’s best to walk away.
Sars will tax you on overseas investments, but you can mitigate its impact
31 Oct 2024 • Tax
Dividends are payments made by a corporation to its shareholders, typically derived from the company's profits.
Tax doesn’t have to be taxing – a tax refund may be on the horizon
31 Oct 2024 • Tax
When you submit a tax return, you show proof of your expenses. This allows you to enjoy the tax benefits.
Warning to expats: check your tax non-residency status
27 Oct 2024 • Tax
Many expatriates, or expats, are looking to change their tax status to non-resident. They want to reduce their tax bills and match their financial duties with their lives abroad.
Public Benefit Organizations and Tax
27 Oct 2024 • Tax
Helping clients structure their organizations is important for their financial health and tax compliance. One option is a Public Benefit Organization (PBO).
Paying off your bond faster: expert tips for SA homeowners
27 Oct 2024 • Advisory
Even with the recent interest rate cut in September, many homeowners in South Africa want to pay off their home loans faster. This interest in speeding up mortgage repayment comes from several reasons
SARS is coming after taxpayers in South Africa hard with new ‘masterstroke’ move
27 Oct 2024 • Tax
The South African Revenue Service (SARS) is improving tax compliance. They are working with private tax professionals to fight tax evasion. This plan aims to help SARS find and catch tax dodgers.
Understanding the Risks When Acquiring a Business, Buying the Business or Buying the Shares
22 Oct 2024 • Advisory
When buying an existing business, you have two main options: buying the business itself or buying its shares.
Digital Payments in South Africa: Key Trends, Technologies, and Strategies for Finance Professionals
21 Oct 2024 • E-Commerce
In South Africa, digital payments are rapidly transforming how businesses operate, making transactions faster.
20 years of pension savings down the drain
21 Oct 2024 • Human Resources, IT and Tech
The two-pot system has shown that many employers did not pay into their workers' pension funds. This has left employees without retirement savings or benefits.
The Importance of Work-Life Balance
21 Oct 2024 • Human Resources
Work-life balance has been in the news a lot lately, and for good reason! What does this mean for HR and leaders? It’s important to see how balance helps create happy and engaged workers.
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What diversity really means, and why it’s crucial in the workplace
19 Oct 2024 • People Management
Diversity has become something of a buzzword. Organizations that see diversity as just a trend miss the real value of being truly diverse and inclusive.
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Is now the right time to buy an annuity?
19 Oct 2024 • Annual Updates
Guaranteed types of annuities are a safe choice for people who want to turn their investment into a fixed income.
Electricity subsidies: Who pays more and who pays less?
19 Oct 2024 • Advisory
Large power users have supported low-income households for years. However, the upcoming tariff increase has the industry asking for a review of the cross-subsidisation
Consequences of an Interest-Free Loan to a Director in South Africa
17 Oct 2024 • Accounting
In South Africa, many people wonder if a company can give an interest-free loan to a director.
Understanding the Consequences of late VAT Registration
15 Oct 2024 • Tax
As tax professionals, we often see clients who miss VAT registration deadlines. This usually happens because of oversight or misunderstanding.
SARS going after Salaries and Pensions in South Africa
08 Oct 2024 • Advisory
Taxpayers who owe money to the South African Revenue Service (SARS) may see the taxman take funds from their bank account or pension.
CIPC and Beneficial Ownership
05 Oct 2024 • Company Statutory
Filing Beneficial Ownership (BO) information is an important part of corporate compliance. This is especially true under the Companies Act.
The Importance of Section 17 in the SAIPA Code of Conduct
28 Sep 2024 • Advisory
In a world where compliance is tightening Accountants and Tax practitioners should refresh themselves on their Professional Code of Conducts as it relates to the taking over of a new client.
SARS Crackdown on Taxpayers - Stay on the right side of tax law
26 Sep 2024 • Tax
The South African Revenue Service (SARS) is working harder to ensure compliance. They are issuing criminal summons to company directors who have not submitted their income tax returns.
Accounting Tips for New Businesses in South Africa
22 Sep 2024 • Customer Success
When we start a new business, we often feel very optimistic. This optimism can make us overlook some serious issues to consider when building our empire.
Interest Rates cut by 25 Basis Points in South Africa
21 Sep 2024 • Annual Updates
As expected, the SA Reserve Bank’s monetary policy committee (MPC) lowered interest rates by 25 basis points. This change came after a large cut of 50 basis points in the US overnight.
What is the Solar Rebate in South Africa?
20 Sep 2024 • IT and Tech
To encourage people to invest in clean electricity, the solar rebate was offered for one year.
Tax Compliance for Complexes in South Africa
19 Sep 2024 • Advisory
Homeowners' associations (HOAs) are required to seek tax exemption from SARS, otherwise, they may be burdened with substantial historical tax liabilities.
How effective Accounting transforms Business Performance and leads to Big Gains
17 Sep 2024 • Accounting
In the fast-paced world of business, every decision matters. Effective accounting can make a big difference in survival and success.
6 Indications You Must Consider Outsourcing Accounting
16 Sep 2024 • Accounting
Many South African entrepreneurs find it hard to manage their business goals and accounting at the same time. If you own a medium or small business, you likely have many tasks to handle.
Why is it important to have an Accountant for your Business?
15 Sep 2024 • Advisory
Accountants are important in business. They provide key financial services like taxation, auditing, bookkeeping, and financial planning. They help ensure a company meets its financial obligations.
South Africans urged not to touch their long term savings in the Two-Pot System
11 Sep 2024 • Advisory
The two-pot retirement system was launched in South Africa on September 1, 2024, it is structured to provide adaptability while ensuring enduring financial stability for those in retirement.
Tax and Accounting Services by Zeelie Professional Accountants SA
10 Sep 2024 • Customer Success
We assist corporate entities, individuals, and trusts throughout South Africa as they maneuver through an increasingly intricate tax regulatory environment.
What is the Difference between Emigration and Immigration?
10 Sep 2024 • Advisory
Emigrate means to leave one's country to live in another. Immigrate is to come into another country to live permanently.
Interpretation Note 132 and its Impact on Tax Practitioners
09 Sep 2024 • Advisory
This Note explains when a person cannot register as a tax practitioner because of tax problems. It also covers when SARS must remove a registered tax practitioner.
Tax Evasion versus Tax Avoidance
05 Sep 2024 • Tax
South Africans are taxed daily, whether it's VAT on essential items, fuel taxes, or the feared inheritance tax upon death.
Ethical Dilemma - How to solve them
05 Sep 2024 • Advisory
An issue in the decision-making procedure involving two potential but ethically unsatisfactory choices.
Updates to the International Code of Ethics for Professional Accountants
04 Sep 2024 • Annual Updates
As experts in the finance and accounting fields, it's crucial to keep abreast of the most recent global ethics and independence norms.
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Succession Planning for SMEs and the Pathway to Long-Term Success
03 Sep 2024 • Advisory
Succession planning is an important part of running a successful small or medium-sized business (SME). SMEs are vital to most economies, but they face unique challenges.
SARS Rules for Public Officers - What Tax Practitioners should know
26 Aug 2024 • Annual Updates
Tax professionals know that a Public Officer is important for handling a company's tax matters with SARS. Recent updates show that SARS is now stricter about companies not having one.
Accounting Trends in 2024 - industry changes
22 Aug 2024 • Advisory
In 2024, technology is changing accounting for financial professionals. It's important to know the latest trends to stay competitive and effective in their work.
Inflation Cools and Interest Rate Cut coming
21 Aug 2024 • Annual Updates
Consumer price inflation fell from 5.1% in June to 4.6% in July. This is the lowest rate since July 2021. It is also very close to the South African Reserve Bank's target of 4.5%.
The expected Petrol Price changes in September 2024
16 Aug 2024 • Annual Updates
Data from the Central Energy Fund (CEF) in the middle of the month indicates a significant reduction in petrol and diesel prices expected in September.
Everything you need to know about the new Two-pot Retirement system
14 Aug 2024 • Advisory
Starting on September 1, 2024, a new retirement system with two pots will be in place. This page has updates on the changes and how they will affect you.
New Tax Requirements for Foreign Employers in South Africa
10 Aug 2024 • Company Statutory
There are new PAYE withholding obligations for foreign employers effective 22 December 2023.
Sustainability and Tax - when is tax material
09 Aug 2024 • Advisory
Companies are now evaluated based on factors beyond financial success. It is important to consider how taxes impact a business in relation to the environment and society.
VAT on Prepaid Vouchers - BGR 72
07 Aug 2024 • Advisory
On 21 May 2024, SARS released BGR 72, outlining the details that must be included in a credit note that a telecommunications firm must provide to a prepaid subscriber.
When Commission is 50% or more of earnings
06 Aug 2024 • Advisory
Individuals who receive over or earn more than 50% of their total income from commissions are eligible to deduct expenses related to generating their income.
Single Section 18A Receipt for Donations
05 Aug 2024 • Annual Updates
Section 18A(1) allows taxpayers to deduct the full amount of donations made to approved organizations in a year from their income tax.
8 Risks of Non-compliance with VAT Legislation
04 Aug 2024 • Advisory
Tax agencies regard VAT non-adherence with great severity. This is no surprise. Value Added Tax (VAT) is the most prevalent indirect tax globally and is progressively becoming a significant source.
What is the Process of taking on new Employees?
26 Jul 2024 • Human Resources
Recruiting your initial staff member is a vital move for any small business proprietor, thus it's essential to ensure all aspects are handled correctly.
NHI gets its first blow from the Court
26 Jul 2024 • Advisory
The Gauteng High Court said that doctors don't have to register for a "certificate of need" under the National Health Act.
Risk Fines or Jail Time if you ignore these SARS Demands
24 Jul 2024 • Advisory
During tax season 2024, taxpayers should not ignore SARS. Failing to respond to them could result in high fines, penalties, or even jail time. It is important to take action promptly.
Changes to VAT on the cards for South Africa
20 Jul 2024 • Retail
Significant alterations are on the horizon for VAT in South Africa, as the government plans to broaden the variety of food products that are not subject to the tax.
SARS Tax Season 2024 Now Open
15 Jul 2024 • Annual Updates
Tax Season 2024 Officially opened today. Here is your essential information for this tax season.
Relief on the cards for Homeowners in South Africa
15 Jul 2024 • Annual Updates
The South African Reserve Bank (SARB) is likely to reduce interest rates by 150 basis points by mid-2025.
What are the key differences between Financial and Management accounting?
06 Jul 2024 • Accounting
In essence, managerial accounting involves the administration of present financial data, encompassing the identification, surveillance, examination, and distribution of such information.
How can EBITDA improve a Business Valuation?
27 Jun 2024 • Advisory
EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) is a key measure used to assess a company's financial health and potential.
2024 Efiling Security Warning in South Africa
24 Jun 2024 • Tax
Taxpayers should be aware of online eFiling hacking and take precautions to protect their SARS profile. Tax Season 2024 opens in only a few weeks’ time on Monday 15 July 2024.
Interest rate relief is coming for South Africa
22 Jun 2024 • Annual Updates
South Africa could see interest rates drop in September as inflation starts moderating. According to Stats SA, annual consumer price inflation was 5.2% in May, unchanged from April.
Significant changes for Tax Season 2024 in South Africa
22 Jun 2024 • Annual Updates
SARS announced major changes for the 2024 tax season starting on July 1, including auto-assessments.
Ensure your Banking Details are up to date with SARS
21 Jun 2024 • Annual Updates
SARS warns taxpayers to update their banking details before tax season starts. Time is limited, so act quickly to avoid any issues with your taxes.
Are Remote Working Employees covered by COIDA?
20 Jun 2024 • Human Resources
With so many now working remotely, the main question is if someone's home is considered a workplace when they work from there as an employee.
SARS Changes to Medical Aid Tax in South Africa
18 Jun 2024 • Annual Updates
June 2024 - South African Revenue Service (SARS) is making tax changes for medical aids to simplify data submission and reduce audits for taxpayers with complex medical claims.
What is a Business Plan? - Buy yours today
17 Jun 2024 • Advisory
A business plan is a documented strategy for a business that highlights its goals and its plans for achieving them. It outlines a company's go-to-market plan, financial forecast and market research.
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IT3(t) Deadline for Trusts in South Africa
14 Jun 2024 • Tax
The Deadline for the IT3(t) submissions to SARS is 30 September 2024.
SARS will be focusing on these Taxpayers this Tax Season
13 Jun 2024 • Advisory
SARS has set the start date for tax season 2024. Despite seeming stricter, everyday taxpayers may not be the main target.
CIPC System Maintenance Planned
13 Jun 2024 • Company Statutory
Please be advised of the scheduled system maintenance on all CIPC systems/services.
Templates for Employment Contracts and HR Agreements
12 Jun 2024 • Human Resources
The contract of employment is a vital and legally binding document – it regulates the terms and conditions of employment between the employer and the employee.
New Tax Season Dates for Trusts in South Africa
12 Jun 2024 • Tax
SARS has set the dates for tax season 2024. Individual taxpayers will receive auto assessment notices starting next month.
What you need to know about SARS Auto Assessments
05 Jun 2024 • Tax
This is an automatic assessment issued by SARS to certain taxpayers. SARS will use information from various sources to automatically generate assessments without needing input from the taxpayer.
SARS has announced the Dates for Tax Season 2024
05 Jun 2024 • Annual Updates
The South African Revenue Service (SARS) has announced the filing dates for tax season 2024, which will open in July.
New Retirement System for South Africa signed into Law
04 Jun 2024 • Advisory
President Cyril Ramaphosa has approved a new law called the Revenue Laws Amendment Bill of 2023. President Cyril Ramaphosa has approved a new law.
Self-Employed Expenses - What can you claim
02 Jun 2024 • Tax
Are you working for yourself? Keep track of your expenditures with these guidelines that cover the fundamentals, including what is and isn't deductible.
What is Regulation 28 in South Africa
01 Jun 2024 • Advisory
Understanding legislation in relation to your investment portfolio is important. Avoid being influenced by fear, greed, or emotions when making decisions.
SARS Admin Penalties - What Taxpayers can Expect
31 May 2024 • Advisory
The Tax Administration Act stipulates that SARS can issue administrative penalties for outstanding tax returns.
Petrol Price Cut on the cards in June for South Africa
29 May 2024 • Advisory
Data from the Central Energy Fund (CEF) at the end of the month indicates that motorists in South Africa can expect good news at the fuel pumps in June for the petrol and diesel price.
Set Back for Couriers and Deliveries in South Africa
28 May 2024 • Advisory
The DCDT has extended the South African Post Office's exclusive rights to provide 'reserved' postal services in the country.
CIPC pioneers environmentally friendly solution for confiscated counterfeit goods
23 May 2024 • Company Statutory
The Companies and Intellectual Property Commission (CIPC) pilot project that is part of a pioneering program aimed at addressing the issue of confiscated counterfeit goods.
Delay in processing and responding to CC and Company re-instatement applications and deregistration enquiries
23 May 2024 • Company Statutory
It should be noted that CIPC is still experiencing high incoming volumes of new re-instatement applications which is contributing to the continued delay together with unintentional resubmissions.
New Rules for Schools in South Africa
21 May 2024 • Advisory
The National Assembly has approved the amended Basic Education Laws Amendment Bill.
How much are South Africans Spending on Paying off their Debt
20 May 2024 • Advisory
South Africans spend 9% of their money on debt payments. Their total household debt is 62% of their total income.
Do you pay VAT on the Sale of a Property in South Africa
16 May 2024 • Advisory
It can be confusing to know when VAT or transfer duty is due when buying property.
SARS has released its Annual Performance Plan for 2024 -2025
16 May 2024 • Advisory
This APP builds on a strong foundation and our lasting dedication to the South African public, taxpayers and traders.
How does the 183 day rule affect South Africans earning income from Foreign Sources
15 May 2024 • Advisory
Even if you're residing abroad, you are technically still a tax resident of South Africa until you have formally ended your tax residency with the South African Revenue Service.
SARS taking Action with Fines and Jail Time rolling out Fast in South Africa
15 May 2024 • Advisory
South Africans not complying with the tax laws face serious prison time and mounting penalties.
NHI to be signed into Law this week in South Africa
15 May 2024 • Advisory
President Cyril Ramaphosa will sign the controversial National Health Insurance (NHI) Bill into law this week.
Longer wait for Interest Rate cuts in South Africa
14 May 2024 • Advisory
The US Federal Reserve decided to keep interest rates the same, which means they will stay high for a longer period. This may delay South Africa's plans to lower rates.
Here is how Business helped pull South Africa back from the Brink of Collapse
11 May 2024 • Advisory
Actions are being taken in collaboration with the state to address important issues like crime, logistics, and energy.
SARS AI Capabilities is making life difficult for Non-compliant Taxpayers in South Africa
02 May 2024 • Advisory
AI is being used more often. The South African Revenue Service (Sars) is using AI to audit more accurately and thoroughly. This helps them improve their auditing capabilities.
Trade Statistics for March 2024 in South Africa
30 Apr 2024 • E-Commerce
South Africa recorded a preliminary trade balance surplus of R7.3 billion in March 2024.
SARS has its eyes on South African bank accounts
26 Apr 2024 • Advisory
SARS is intensifying its efforts against non-adherence, and specialists indicate there's a heightened emphasis on personal taxpayers via revenue enhancement to detect inconsistencies in tax filings.
Change on the horizon for Property Market in South Africa
26 Apr 2024 • Advisory
The South African residential property market sector is currently struggling but is ready for a gradual recovery.
New Reserve Bank measures that will impact interest rates
25 Apr 2024 • E-Commerce
The South African Reserve Bank has introduced two new measures. These measures aim to understand the price pressures that will affect the MPC's interest rate decisions. Both measures show high levels.
Preparation and approval of annual financial statements
24 Apr 2024 • Company Statutory
The Companies and Intellectual Property Commission (CIPC) has as one of its objectives in terms of Section 186 (1) (d), a responsibility to promote compliance with the Companies Act, 71 of 2008.
Incorporating beneficial ownership information with annual return filings for companies and close corporations
24 Apr 2024 • Company Statutory
Beneficial ownership information by corporate vehicles registered with the CIPC must be submitted to the Commission in terms of the amendments brought about by the General Laws Amendment Act of 2022.
Automation of the Trust dispute process
24 Apr 2024 • Advisory
The automated dispute process is now extended to Trusts.
Enhancements to reduce Efiling Fraud
24 Apr 2024 • Tax
SARS has discovered fraudulent activities involving users trying to register for the eFiling platform. This has prompted SARS to launch an initiative to stop these illegal activities.
Inflation cools for the first time this year
18 Apr 2024 • Retail
In March, consumer price inflation decreased to 5.3% from 5.6% in February. This was lower than what some economists had predicted.
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Employer Annual Declarations (EMP501)
18 Apr 2024 • Human Resources
One of the key goals of SARS is to enhance our service to offer a smooth taxpayer experience that ensures transparency and assurance, making it simpler to fulfill your tax responsibilities.
Trade Statistics for February 2024
18 Apr 2024 • E-Commerce
SARS releases the preliminary trade statistics for February 2024 Pretoria, 28 March 2024 – South Africa recorded a preliminary trade balance surplus of R14.0 billion in February 2024.
Third Party Data Submission Deadline
18 Apr 2024 • Annual Updates
A reminder that the SARS Third Party Data Annual Submissions opened on 1 April 2024 and will close on 31 May 2024.
SARS has ramped up their use of AI in tax collection
11 Apr 2024 • Tax
Tax collection in South Africa is getting more serious. The national Revenue Service (SARS) is now using artificial intelligence and machine learning to collect taxes more efficiently.
SARS warns taxpayers to do their due diligence
05 Apr 2024 • Tax
SARS Commissioner Edward Kieswetter cautions taxpayers to avoid receiving tax advice from non-compliant tax practitioners.
How to stay organised in 13 simple ways
04 Apr 2024 • Human Resources
Work long hours but not getting much done? We've all been there. If this happens a lot, staying organized can help you get back on track and be more productive.
Taking your money out of South Africa harder than you think
03 Apr 2024 • Advisory
In South Africa, during tough economic times, wealthy individuals are thinking about moving themselves or their money overseas.
CIPC planned maintenance
22 Mar 2024 • Company Statutory
Please be advised that Companies and Intellectual Property Commission CIPC will be performing maintenance activities from 22 – 25 March 2024.
CIPC Enquiries System Unavailable - Alternative Processes
22 Mar 2024 • Company Statutory
Kindly note that the Enquiry system is currently not available. Customers are advised to use the following email addresses to send enquiries to a specific unit or department.
Your Currency News this week
20 Mar 2024 • Retail
The rand has demonstrated encouraging improvements in the past week, trading more than 2% stronger against the US dollar.
New electricity laws passed by parliament for South Africa
20 Mar 2024 • General
Minister Mantashe believes the ERA Bill will greatly change the electricity sector for the better.
ROE Online System Temporary Shut-Down
18 Mar 2024 • Annual Updates
This is to notify all Employers that the Compensation Fund will be temporarily closing the ROE Online System and the internal SAP ECC specifically for the Employer Registration and Employer Assessment
CIPC Update | Planned Maintenance
14 Mar 2024 • Company Statutory
Please be advised that CIPC will be performing planned maintenance activities 15 to 18 March 2024
Update to the Basic Conditions of Employment Act for employees earning more than R21,200 a month
11 Mar 2024 • People Management
The Department of Employment and Labour changed the earnings limit for the Basic Conditions of Employment Act. Workers earning over R21,200 a month in 2024 will lose some automatic protections.
Excise Duty and Levy payment and submission dates for 2024 have been published
11 Mar 2024 • E-Commerce
Excise Duty and Levy payment and submission dates for 2024 have been published
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CIPC Security Compromise update
07 Mar 2024 • Company Statutory
CIPC has undergone some system upgrades after the recent hacking of its system. There is a new verification process in place.
SARS update of the Tax Directives system
06 Mar 2024 • Annual Updates
SARS has enhanced the Tax Directives system in line with the IBIR-006 Tax Directives Interface Specification Version 6.601.
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How workplace conflict can help your team
06 Mar 2024 • People Management
Good ideas and true innovation, you need human interaction, conflict, argument, and debate.
Health Promotion Levy on Sugary Beverages
06 Mar 2024 • Tax
The Health Promotion Levy HPL on Sugary Beverages external policy has been revised to align with the relevant sections of the Act.
Remember to record your motor vehicle odometer reading on 1 March
06 Mar 2024 • Annual Updates
If you receive a travel allowance from an employer or principal, you can claim a deduction on assessment of your annual income tax return for the use of a private motor vehicle for business purposes.
Trade statistics for January 2024
06 Mar 2024 • E-Commerce
In 2023, South Africa had more exports than imports, resulting in a trade surplus of R62.2bn. The total trade value was R4.02trn, with exports at R2.04trn and imports at R1.98trn.
New customer verification process for CIPC customers
05 Mar 2024 • Company Statutory
In line with securing customer accounts, CIPC has implemented a new customer verification process for SA ID holders as well as Foreign Passport holders.
Update on the deadline for beneficial ownership submission
05 Mar 2024 • Company Statutory
Beneficial ownership filings are now an important administrative requirement. The CIPC introduced these procedures on 24 May 2023. This was following the Companies Amended Regulations, 2023.
Currency News this week in South Africa
05 Mar 2024 • Advisory
This week has been a quieter than normal week, with not many major changes occurring, this is the latest.
Change of SARS Complaints Management Office Number
05 Mar 2024 • Tax
The SARS Complaints Management Office (CMO) has been using a shared contact number, which means the caller carries a portion of the cost of the call.
South Africa heading for a Gas Shortage cliff
04 Mar 2024 • Advisory
South Africa is facing a problem with its gas supply. Busi Mavuso, CEO of Business Leadership South Africa, predicts that the country may run out of gas in two years.
CIPC database was hacked
04 Mar 2024 • Secretarial
The CIPC had a security breach that exposed client and employee personal information.
Budget Speech 2024 Wrap Up
23 Feb 2024 • Advisory
Enoch Godongwana, the Finance Minister, gave the South African National Budget Speech for the 2024/2025 tax year on 21 February 2024.
Major Fuel Hikes coming in South Africa
20 Feb 2024 • Advisory
South African consumers will face higher fuel prices in March and possible tax increases in April. This will lead to higher transport costs, prices in stores, and inflation in the coming months.
The Greylisting status of South Africa - how are we doing
19 Feb 2024 • Advisory
South Africa is having trouble getting off the FATF's grey list. This is mainly because of problems in two industries.
The Accountants responsibility to disclose under the Tax Administration Act
16 Feb 2024 • Advisory
The Tax Administration Act introduced far reaching implications for accountants. It leaves the unexpected accountant vulnerable to potential criminal sanction.
How to Report a tax crime
16 Feb 2024 • Tax
SARS wants to make reporting a tax or customs crime easy for you. An online form was created for reporting tax crimes. Reporting a tax crime is the right thing to do.
Tax hikes possible in South Africa
14 Feb 2024 • Tax
The South African government desperately needs more revenue. Potential tax hikes are on the cards especially for the wealthy.
TOP 10 CV TIPS - How to prepare for your ideal job
13 Feb 2024 • Advisory
Writing a CV is not the easiest task to perform. Make sure your CV matches the job and presents your skills clearly with experience sections, so recruiters don't reject it right away.
Top reasons why finance system implementations fail
12 Feb 2024 • Advisory
Anytime change happens, people get emotional. The world seems consumed in chaos. This is particularly true when it comes to IT implementations. Many don't go smoothly and some of them just fail.
NHI bill about to be signed into law
12 Feb 2024 • Advisory
Cyril Ramaphosa of South Africa will probably approve a controversial health insurance bill before the national elections.
What is the Provisional Tax deadline for 2024 and 2025
08 Feb 2024 • Tax
The Provisional Tax Deadline is fast approaching again. Provisional taxpayers are required to submit a provisional tax payment every 6 months based on their taxable income for the year of assessment.
What is a Trainee Accountant
06 Feb 2024 • Advisory
Many people don't know the terminology in the accounting field as it relates to the various stages a candidate goes through as they progress further into the field of accounting.
Understanding the Key Differences between a Subscription and Sale of shares in South Africa
05 Feb 2024 • Advisory
When it comes to acquiring ownership in a South African company, two common methods are the sale of shares and the subscription of shares.
How much must you save for Retirement in South Africa
05 Feb 2024 • Advisory
South Africa has a problem with retirement, as only 6% of the population will be able to retire comfortably.
The cost of prepaid electricity in South Africa after the 2024 price hikes
30 Jan 2024 • Advisory
South Africans using prepaid electricity should expect a significant increase in their monthly bill from April this year.
Minimum wage for domestic workers in South Africa
30 Jan 2024 • Advisory
The National Minimum Wage Commission suggests increasing the National Minimum Wage for 2024 by more than inflation. This could see the rate for domestic workers jump to as much as R27.71 an hour.
SARS Tax Statistics for 2023
25 Jan 2024 • Tax
In 2022/23 SARS collected R2.07 trillion in gross tax revenue (up by R183 billion or 9.7% more than the prior year).
How to exit from being classified as a Personal Service Provider in South Africa
25 Jan 2024 • Advisory
If you are a business in South Africa falling into the personal service provider classification, you will not qualify for small business tax rates unless you meet these criteria.
Can you deduct SARS interest and penalties for tax purposes
19 Jan 2024 • Tax
You cannot deduct fines, amount if interest or penalties for illegal activities in South Africa or any other country where those activities are illegal.
South Africa’s inflation threatened by weak Rand
17 Jan 2024 • Advisory
In 2024, inflation may be around 4.5% or less. This could lead to the South African Reserve Bank (SARB) reducing interest rates around July this year.
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Why it is important to be aware of your Authenticity
16 Jan 2024 • Human Resources
We are familiar with the feeling of being with someone who is genuine. This feeling is different when compared to being with someone who is pretending to be someone they are not.
What determines my tax residency in South Africa
12 Jan 2024 • Tax
On 1 March 2001 South Africa change its tax system. It went from a source-based to a residence-based tax system. The result of this is that tax residents are taxed on their worldwide income.
The New Assessed Loss limitation on Companies in South Africa
11 Jan 2024 • Tax
Under the new rules Companies will now be limited to assessed losses of R1m or 80 % of taxable income whichever is higher.
BO Register Requirements for a Trust in South Africa
08 Jan 2024 • Advisory
Trustees must report the ownership of trusts to the High Court and the South African Revenue Service (SARS).
New implementation date for the Two-pot Retirement system in South Africa
05 Jan 2024 • Tax
The new proposed implementation date of the two-pot retirement system is 1 September 2024.
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What is Business Tax Advisory
31 Dec 2023 • Advisory
A business tax consultant is a professional that has been trained and has knowledge of tax law and how this applies and impacts on your business and financial affairs.
What is Workmen's Compensation Fund
31 Dec 2023 • Human Resources
To avoid losing your business due to unforeseen events, we are providing you with important information about Workmen's Compensation.
Salaries in South Africa under pressure
21 Dec 2023 • Human Resources
New data reveals that South African households had a tough financial year in 2023.
A Guide to Traveling Safely During the Festive Season
20 Dec 2023 • Advisory
The festive season is officially here. The festive season is a time for joy, celebration, and often, travel. Stay safe while traveling or exploring.
Business closure stats in South Africa for 2023
19 Dec 2023 • Advisory
A staggering 144 businesses closed their doors in November 2023. This brings the total number of businesses that closed in 2023 sofar in excess of 1500.
How To Wrap-up The Year Well
13 Dec 2023 • People Management
As we enter the year's final stretch, it is the perfect time to reflect, rejuvenate, and prepare ourselves for a fresh start.
Tax application of income received in advance
12 Dec 2023 • Advisory
Income received in advance is treated differently for accounting and tax purposes.
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Retirement funds in South Africa threatened by a shrinking JSE
11 Dec 2023 • Advisory
There have been several delisting's on the JSE over the past couple of years and these could threaten South Africans retirement funds.
SME and Start-ups are the solution to job creation
04 Dec 2023 • Advisory
Small enterprises are the key to job creation, especially in developing countries. We should start to see a drop in interest rates and inflation from 2024 onwards as the economy starts to recover.
Tips to manage heat-related ailments
04 Dec 2023 • General
We all look forward to summer however the heat sets in very fast and most people are not prepared by the time they get their first sunburn.
How to maintain your fitness this festive season
04 Dec 2023 • General
It is so easy to say "it's been a long year, I just want to enjoy my holiday". We all know what happens when you return after the holiday, you have regret and a load of weight you now need to shed.
Braai news in South Africa
03 Dec 2023 • Advisory
Believe it or not, meat prices have actually come down since the start of the year. This should make it more affordable for South African braai lovers to have loads of braai's this festive season.
Petrol price cut coming this week
03 Dec 2023 • Advisory
In November, oil prices remained stable. As a result, South African drivers can expect a decrease in petrol and diesel prices this week.
Interest Rates cut on the cards in South Africa
01 Dec 2023 • Advisory
Traders now expect South Africa's first interest rate cut to happen in March 2024. Traders predict that South Africa will have its first interest rate cut in March 2024.
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Foreign Employment Income -Exemption from Income Tax
29 Nov 2023 • Advisory
The exemption was introduced to prevent double taxation. SARS does have to ensure that this tax exemption is not exploited and thus there are requirements that must be met in order to qualify for the
Customs Migration into New RLA System - Some Traders must re-register
21 Nov 2023 • Advisory
The New RLA system enables users to upload documents online. The RLA system is then able to match documents for verification.
Importers must prepare for the new SARS requirements for Importing
21 Nov 2023 • Advisory
The new Advance Payment Notification (APN) requirements will come into effect as from 1 December 2023. The APN requirements have been put in place to help combat illicit cash flows. These changes will
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Your Taxes are Your Responsibility
15 Nov 2023 • Advisory
Locally and abroad there are millions of small business owners, individuals, companies and trusts who have their tax returns prepared by outside accountants.
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SARS Clamp Down on VAT Registrations - Can you register for VAT
14 Nov 2023 • Advisory
As reported in a media release by the SA Revenue Service in May 2023 there has been a stricter look at all VAT Registrations coming into SARS.
New Tax Break in South Africa - Does it apply to you?
14 Nov 2023 • Advisory
South Africa has seen its first tax incentive being issued for threatened species like lions and rhinos.
Ten Lifestyle Changes to become a better leader
31 Oct 2023 • Advisory
Practicing effective leadership and being an entrepreneur is both fulfilling and at times the hardest thing to do. It takes so much sacrifice in the pursuit of becoming a great leader.
How to navigate owning a Small Business
31 Oct 2023 • Advisory
The SME Sector is the most important sector. Why? According to the World Bank, the SME sector accounts for 90 percent of businesses worldwide and approximately 50 percent of all jobs. A total of 40%
Who is required to Submit Third Party Returns?
25 Oct 2023 • Advisory
The new third-party reporting requirements in terms of s26 of the Tax Administration Act were released 30 June 2023. This was released in the Notice 3631 Gazette 48867.
SARS Debt Outsourcing - Here come the Debt Collectors
25 Oct 2023 • Advisory
SARS Debt Management Department is now outsourcing the SARS Debt collection of debts older than five years to external debt collectors.
Contingency fees for Tax Services - SARS re-iterates this is a no
20 Oct 2023 • Tax
In the October issue to its Tax Practitioners, SARS reiterated that the charging of contingency fees is not allowed.
New requirements for Trust Compliance
15 Oct 2023 • Advisory
A tax practitioner is now required to submit additional information to SARS when submitting a Trust tax return in South Africa.
Another win for SARS against organised crime
13 Oct 2023 • General
An inter-governmental search and seizure operation was conducted to break the syndicate of coal smugglers that added to South Africa's load shedding woes.
VAT South Africa - VAT Registration and How much is it
13 Oct 2023 • Advisory
VAT is an indirect tax which is levied on the VALUE ADDED throughout the chain of the supply of goods and services.
South Africa - expect another interest rate hike in 2023
12 Oct 2023 • Advisory
Economists and experts have revised interest expectations for South Africa, the expectation is an increase of 25 basis points in November 2023.
Rocky Road ahead for South Africa’s GDP
12 Oct 2023 • Advisory
It is clear the South Africa is facing some challenges ahead, the economic data of the country is pointing to this.
Mental Health and Productivity in the Workplace
09 Oct 2023 • Human Resources
Recently, there has been a growing awareness of the importance of mental health in the workplace.
Pension Benefits and Employer's rights to withhold funds
06 Oct 2023 • Advisory
The Pension Fund Act of 1965 was created so that there is security and protection of an employees' retirement funds preventing the malpractice of employees' funds not being paid out.
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Financial Distress Test - Know what to improve
05 Oct 2023 • Advisory
A business in distress is one where the is a likelihood that the company may reach a position within the next six months. A financial stress test helps anticipate this.
Media statement on the detention of vessels by SARS
04 Oct 2023 • Tax
The South African Revenue Service (SARS) has noted the media report of 17 September 2023 by the Sunday Times concerning the detention of five vessels involved in the fuel bunkering.
VAT Modernisation Discussion Paper - the future is here
04 Oct 2023 • IT and Tech
The modernisation of the South African VAT return Landscape is happening right in front of our eyes.
SARS has its eyes on these taxpayers
04 Oct 2023 • Company Statutory
The South African Revenue Services is now looking at tax representatives as it progresses further into clamping down on non-compliance by companies.
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Capital Gains Tax South Africa
29 Sep 2023 • Advisory
CGT was introduced in South Africa with effect from 1 October 2001 (referred to as the “valuation date”). It applies to the disposal of an asset on or after that date.
2023 Income Tax Deadline Reminder South Africa
26 Sep 2023 • Advisory
This is a friendly reminder to ensure your 2023 Income Tax is submitted by the tax due date and filing deadlines.
Are you a Personal Service Provider? Here's what you need to know
20 Sep 2023 • Advisory
If you are a business in South Africa falling into the personal service provider classification, you will not qualify for small business tax rates unless you meet these criteria.
Business Rescue - when is it applicable to you?
11 Sep 2023 • Advisory
Chapter 6 of the Companies Act 2008 Act 71 of 2008 provides for the efficient rescue and recovery of financially distressed companies.
SARS Turnover Tax South Africa
31 Aug 2023 • Tax
Micro business needed a different tax approach. The compliance burden was a barrier to entry for the Micro Business. A new tax system called Turnover Tax provides relief to Micro Businesses.
Bookkeeping Services near you - Affordable Quality Service
26 Aug 2023 • Accounting
Looking for bookkeeping services? We have the solution for you.
What are Small Business Tax Rates?
22 Aug 2023 • Tax
What are Small Business Tax Rates? These are preferential tax rates given to Small Business Owners and Small Business Corporations.
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Small Business Payroll services + UIF and PAYE Registration
20 Aug 2023 • Human Resources
Payroll functions and human resources are crucial for any business. Not having the right structure for your payroll operations can lead to a myriad of headaches.
Are you looking for a Personal Tax Consultant near you
19 Aug 2023 • Tax
Tax Consultants and Tax Practitioners are essential for your peace of mind before, during and after tax season
VAT – What is it & Why do You Need an Accountant for Value added tax services
12 Aug 2023 • Tax
VAT is an abbreviation for Value-added tax introduced in South Africa and replaced the GST (General Sales Tax) as an indirect system of taxation.
Are you looking for an Accountant Near Me. Sign up with Zeelie Professional Accountants SA, a fast-growing and trusted tax and accounting services firm.
12 Aug 2023 • Customer Success
Zeelie Professional Accountants SA is a fast-growing tax and accounting firm, focused on solutions, success, and the future. Our diverse team of professionals are engaging and eager to assist.
What should Business Owners be aware of this tax season
20 Jul 2023 • Advisory
You have started your Small Business, have you considered the following basics a small business owner needs to be aware of this tax season
How to Log in to Xero
20 Jul 2023 • Xero Tips
How to log in to Xero and use the Xero Verify App
How long do you keep your tax records
19 Jul 2023 • Advisory
It is important to know how long you should keep records for and what the statutory minimums are
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Small Business - Idea to Success
14 Jul 2023 • Advisory
So, you are thinking of small business ideas and how to start that small business. How do you set yourself up for success.
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Why you should not fall behind with compliance
06 Jul 2023 • Advisory
The pressure for Individuals, Organisations, Practitioners, and the Political sphere to comply is immense. However shy away we should not.
When must I register for VAT
06 Jul 2023 • Advisory
Compulsory registration is applicable when in any given rolling period of 12 months you exceed R1m revenue
Tax Season 2023
04 Jul 2023 • Tax
As we approach the opening of tax season 2023, it is important to note the changes this year and be prepared.
SARS Voluntary Disclosure Programme
04 Jul 2023 • Advisory
The Voluntary Disclosure Programme (VDP), accessible to eligible taxpayers since 2011, provides a chance for those not adhering to the rules to reveal this to the South African Revenue Service (SARS).
The New CIPC BO Register to tackle issues linked to South Africa AML grey listing
24 Jun 2023 • Advisory
South Africa was greylisted by the Financial Action Task Force (FATF).
Fuel Prices this May 2023
04 May 2023 • Advisory
Fuel Prices this May 2023
South Africa's New currency design
04 May 2023 • E-Commerce
South Africa's New currency design
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SARS is now picking up on and searching for taxpayers who are not declaring income.
04 May 2023 • Tax
SARS is now picking up on and searching for taxpayers who are not declaring income.
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How to keep your remote team motivated
16 Apr 2023 • People Management
How to keep your remote team motivated
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5 Reasons Employees lose motivation
09 Apr 2023 • People Management
5 Reasons Employees lose motivation
It’s no longer just the “Great resignation” but rather the “Great Reset”
09 Apr 2023 • Human Resources
It’s no longer just the “Great resignation” but rather the “Great Reset”
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To Braai or not to braai
02 Apr 2023 • Retail
To Braai or not to braai
The 3 rate hikes this April
02 Apr 2023 • Consulting
The 3 rate hikes this April – Get ready for this triple blow this month.
SARS has its eyes on you - remote workers and foreign employers need to start preparing
02 Apr 2023 • Advisory
SARS has its eyes on you - remote workers and foreign employers need to start preparing
Rand manipulation - Competition Commission proceeds against Banks
02 Apr 2023 • General
Rand manipulation - Competition Commission proceeds against Banks
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Interest Rate hike - Bond payment increase you can expect.
02 Apr 2023 • General
Interest Rate hike - Bond payment increase you can expect.
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Consumers face empty shelves
02 Apr 2023 • Retail
Consumers face empty shelves
Third Provisional Tax Payment – What to know
15 Mar 2023 • Tax
A third provisional payment is an optional additional payment after the end of the tax year.
SARS is warning dormant companies
11 Mar 2023 • Customer Success
SARS now issues late-submission penalties to trading and dormant entities.
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How Inflation erodes Tax Relief
10 Mar 2023 • Advisory
What is Tax Relief if it is already lost?
VAT Vendors watch out!
10 Mar 2023 • Advisory
Tax Practitioners and Taxpayers should ensure focus on VAT invoice compliance. Emphasis will be placed on VAT registered entities and the submissions made to SARS.
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Budget Speech 2023/2024 Highlights
10 Mar 2023 • Annual Updates
Here are the highlights of the 2023/2024 Budget Speech. Lower income tax rates, rebates on renewable energy, RAF Levy Refunds for food manufacturers
SARS Tax Bracket and Tax Tables for 2024 in South Africa
10 Mar 2023 • Tax
The Income Tax brackets 2024 in South Africa will continue to be based on a progressive system.
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Individual and Corporate Tax Credits and Incentives
05 Mar 2023 • Advisory
Tax rebates, credits and incentives help taxpayers lower their tax bill on an annual basis.
Tax Structuring
05 Mar 2023 • Tax
Zeelie Professional Accountants helps many clients with tax structuring.
SARS Interest and Penalties - written by Vanessa Viola
06 Sep 2022 • Tax
If SARS is satisfied that non-compliance by a person referred to in subsection (2) exists, SARS must impose the appropriate ‘penalty’ in accordance with the Table in section 211.
Bookkeepers and the Bookkeeping services function – The role is changing rapidly
06 Feb 2022 • IT and Tech
The role of Bookkeeping and that of the Bookkeeper is changing rapidly. Cloud-Savvy accounting and bookkeeping professionals are not surprised as they have first-hand experience of this.
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Assets and Liabilities declaration – Directors, Members and the Self Employed
06 Feb 2022 • Accounting
Are your tax returns accurate? Here is how SARS can test whether they are.
A couple of decades back the tax collection system was archaic, and collection was reliant on brain power.
SARS Tax Practitioner Appointment and Verification
26 Mar 2023 • Tax
SARS Tax Practitioners should be registered with a Recognized Controlling Body (RCB) in order to provide tax services to clients. SARS now enforces this rule together with good standing requirements.
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Public Officer & Tax Representative Appointment – What SARS expects
17 Oct 2021 • Tax
A Company is required by the Companies Act and Income Tax Act to appoint a Public Officer within 30 days of incorporation. The public officer represents the company for all tax related matters.
SBC Tax Rates - Small Business Corporation Tax
10 Mar 2023 • Tax
Many small businesses are not aware that they can qualify for SBC Tax Rates (Small Business Corporations Tax), which is lower than the normal Company’s Tax Rate of 27%.
Work-Life Balance is not a destination – but rather a cycle that needs to be managed over time
05 Jul 2021 • Human Resources
The evidence that working long hours can be harmful to employees and employers exists. Why is it that we still struggle to move past our ingrained habits when it comes to long work hours?
Sole Proprietor or Company? – What is the difference?
10 Jun 2021 • Consulting
Here we examine the main differences between a Sole Proprietor and a Company so that you can make a more informed decision about where to start and the tax implications of the two methods of trading.
Home Office Expenses SARS & Tax Deductions – What can you deduct?
10 Jun 2021 • Tax
With the 2021 Tax Season about to open you might be wondering, what can you claim for home office expenses due to working from home in lockdown.
Provisional Taxpayer Registration
01 Aug 2023 • Tax
Who must register as a provisional taxpayer
Tax Deduction on Retirement Annuity, Pension and Provident fund contributions
09 Jun 2021 • Tax
Contributions made to a retirement annuity, pension or provident fund can be deducted from an individual’s taxable income.
CIPC Annual Returns
29 May 2021 • Company Statutory
All companies (including external companies) and Close Corporations are required by law to lodge their CIPC Annual Returns on the Anniversary date or date of Incorporation.
ETI - Employment Tax Incentive - How does ETI work?
29 May 2021 • Payroll
The Employment Tax Incentive also know as ETI, has it’s main focus on the young South Africans who are excluded from economic activity.
Starting a New Business – A Guide to the essentials for a new business start-up
21 May 2021 • Startup
New Small Business start-up? Use this simple guide for success.
SARS Targeted Tax Collection
29 Apr 2021 • General
Why is it more important than ever to get your tax matters in order?
Medical Aid Tax rebates and Medical Tax credits
29 Apr 2021 • Tax
Section 6A Medical Aid tax credits available to taxpayers can seem like a complicated topic however, here we aim to explain the process in simple language to make it easy for any person to understand.
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