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Five Financial Reports for Informed Decision-Making

Informed business decision-making – from effective daily financial management to strategic future planning – requires specific, timely information that allows business owners to understand where the business stands financially at a certain time, what is happening over a period, and where action is required to improve financial performance. This information can be found in a …

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Estate Planning: Act Now to Protect Your Family and Business After You Are Gone

The legacy you would leave behind, if today turned out to be your last day, is detailed in your current estate plan and your will (“Last Will and Testament”) – quite possibly the most important document you will ever sign, because it is the only way to ensure those you care about are protected and …

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Companies: How Will the Reduced Tax Rate and Assessed Loss Rules Affect You?

New rules have been established around the treatment of corporate assessed losses, and these are already in effect, limiting the amount of previous assessed losses that can be offset against a company’s annual income tax liability in future financial years. The change follows the reduction in the corporate tax rate from 28% to 27% and …

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Don’t Just Leave Your Loved Ones Assets – Leave Them a Legacy!

First prize will always be a plan that goes beyond just the practical and the financial and leaves something far more personal, something of yourself. Procrastination is a natural reaction to any contemplation of our own mortality, but this need not be an intimidating process, and no one can afford to procrastinate when it comes …

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Multiple Income Streams? The PAYE Dangers and a New Option for Pensioners

A nightmare situation for many South African taxpayers is discovering after their year-end tax assessment that the PAYE they paid on various income streams during the year was not enough. The result is a substantial tax debt, which can often not be settled in time to prevent hefty late payment penalties and interest. To avoid …

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Planning to Cease Being a South African Tax Resident? What You Should Know Before Approaching SARS

Another channel has been made available to taxpayers to inform SARS that they are ceasing to be tax residents. While this might make it seem a simple matter to break South African tax residency, the reality is that doing so requires comprehensive understanding of the implications and careful planning, whether for a person, a trust …

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Financial Year End Reporting: Challenges to Manage, Opportunities for Benefit

Whether it’s referred to as the End of Financial Year or “EOFY”, Close of the Financial Period, Financial Year End or FYE, or simply ‘Year End’, this important time is just around the corner for many companies on the 28th of February. It is the end of the annual accounting period and an ideal opportunity …

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