As a business grows, owners may find they need to take out loans to build infrastructure, take on essential new employees, meet legal requirements or upgrade equipment to ensure future growth. These moments can each feel necessary at the time, but if business owners are not careful, they may find themselves with more debt than
Tips for Getting out of Business Debt Read More »
The 2023 Tax Season in South Africa opened officially on 7 July 2023 for individuals who are both non-provisional taxpayers and provisional taxpayers – as well as for trusts. While much has stayed the same from last year, like the auto assessments introduced in 2022, there are also a number of changes this year –
Tax Season 2023 Now Open – What’s New and What’s Not Read More »
The confidentiality of taxpayers’ information has been a cornerstone of tax systems, globally and in South Africa, as it provides taxpayers with peace of mind that the sensitive financial and highly personal information, they are obliged to disclose to tax authorities will not be made public. However, recent developments have raised questions about this, with
Is Your Information Safe With SARS? Read More »
Anyone who is starting a new business knows that your accountant is who you go to when you need to do your taxes at the end of the year. Most will know that they can also do the books or offer financial advice. However, many won’t be aware of just how much more your accountants
Ten Often-Overlooked Ways Your Accountant Can Help Your Business Read More »
Company directors face further responsibility and administrative burdens resulting from legislative changes earlier this year, following South Africa’s grey listing by the global financial watchdog, the Financial Action Task Force. Directors are now obliged to implement a detailed Beneficial Ownership Register for their companies and submit the register to CIPC, along with a list of
Directors: Prepare and Submit Your Company’s Beneficial Ownership Register Read More »
It’s easy to fall for a ponzi or pyramid scheme. Victims around the world include people from every demographic and walk of life, from captains of industry to desperate pensioners to “Joe and Mary Average”. The fraudsters are skilled at painting a picture of legality, genuine and sustainable business models, security of investment, and huge
Ponzi Schemes: Another MTI Judgment, Risks and Red Flags Read More »
The existing research and development (R&D) tax incentive for South African companies will be extended for 10 years from January 2024 and will be refined to make it simpler and more effective, Finance Minister Enoch Godongwana announced earlier this year. This provides local businesses with both opportunity and time to derive optimal benefits from this
Can the R&D Tax Incentive Benefit Your Business? Read More »
The new duties most recently imposed on trustees not only involve substantially more administration than ever before, but also entail impossible deadlines and hefty penalties. These additional duties arise from legislative changes following South Africa’s grey listing by the global financial watchdog, the Financial Action Task Force, as well as new requirements from SARS. As
New Trustee Duties: More Admin, Impossible Deadlines and Hefty Penalties Read More »
Most people when making wills and estate plans will lean toward leaving all or most of their estate to a spouse in one form or another. But if things fall apart and divorce looms it is easy in all the stress and hurly burly of the break-up to forget all about your will. Perhaps you
Divorce: Remember to Review Your Will! Read More »
South Africa has been grey listed by the Financial Action Task Force for not fully complying with international anti-money laundering and terrorism financing standards. That’s led government to bring in a variety of compliance measures, including a new requirement for trustees to disclose the beneficial owners of trusts in a register accessible by the appropriate
Trustees: Your New Duty to Report Beneficial Owners Read More »
