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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.

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.

How Inflation erodes Tax Relief 10 Mar 2023 • Advisory What is Tax Relief if it is already lost?

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

Fuel Prices this May 2023 04 May 2023 • Advisory Fuel Prices this May 2023

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).

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).

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

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.

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.

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

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

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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%

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.

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.

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.

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.

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

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.

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

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.

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.

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.

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.

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.

Tax application of income received in advance 12 Dec 2023 • Advisory Income received in advance is treated differently for accounting and tax purposes.

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.

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.

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.

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).

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Automation of the Trust dispute process 24 Apr 2024 • Advisory The automated dispute process is now extended to Trusts.

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.

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.

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.

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.

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.

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.

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.

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 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.

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.

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.

New Rules for Schools in South Africa 21 May 2024 • Advisory The National Assembly has approved the amended Basic Education Laws Amendment Bill.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Ethical Dilemma - How to solve them 05 Sep 2024 • Advisory An issue in the decision-making procedure involving two potential but ethically unsatisfactory choices.

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.

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.

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.

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.

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.

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 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.

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

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.

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