South African companies and households, with no option but to seek alternatives to Eskom’s expensive, erratic and deteriorating supply, will be relieved to know that – from a tax perspective – the timing could not be better to invest in solar and renewable energy. Two time-limited tax measures were announced in the 2023 Budget in
How You and Your Business Can Benefit from SARS’ Solar Tax Breaks Read More »
An “Agreement Not to Sue” is a legal document that stops one party from taking legal action against another. It’s a way of ensuring that disputes are settled without going to court. We’ll have a look at what you need to know about agreements not to sue, including when and where you might come across
Agreements Not to Sue – Tread Carefully! Read More »
Most people who start a business know that they need a business plan – a guide to starting and managing the business to ensure success. Business plans detail all the elements that go into building the business so they are a crucial way to get off on the right foot. While the reality of your
5 Business Plan Mistakes to Avoid Read More »
If you are forming a new company or buying into one, don’t neglect one vital aspect – formulating and signing a full, correctly structured shareholders’ agreement, tailored to meet your particular needs and circumstances. Ignoring this step is a recipe for uncertainty and dispute that can seriously and perhaps even fatally damage your company and
Why You Need a Shareholders’ Agreement, and How to Structure It Read More »
Employers and their employees should take note of the increases from 1 March 2023 in both the National Minimum Wage (NMW) and the “Earnings Threshold” provided for in the Basic Conditions of Employment Act (BCEA). The threshold also impacts on employee protections in the Labour Relations Act (LRA) and in the Employment Equity Act (EEA).
Effective 1 March 2023: New Earnings Threshold and National Minimum Wage Read More »
Entrepreneurs have a lot to deal with on a daily basis. From managing customers to ordering stock, handling marketing and networking – the days aren’t short of obligations. As a result, it can be difficult to find time to draw up spreadsheets and analyse finances. The problem is that managing your books and keeping finances
Five Essential Bookkeeping Tips for Small Businesses Read More »
Budget 2023 focussed firmly on the energy State of Disaster. The most prominent announcement was that government would take over R254 billion of Eskom’s debt, while two tax relief measures totalling R9 billion were introduced to assist individuals and businesses to invest in solar and renewable alternatives. As a result of this and an improvement
Budget 2023: How It Affects You and Your Business Read More »
We’ve all heard (but perhaps not all of us have remembered!) how online BEC (“Business Email Compromise”) scammers worldwide have been particularly targeting property transactions because of the substantial amounts of money involved. Beware – it’s not just conveyancers and property buyers and sellers who are being targeted, but also anyone involved in high-value transactions,
Check All Emailed Bank Details for BEC (“Business Email Compromise”) Frauds Read More »
With both fuel and vehicle ownership costs at historic highs, it is more crucial than ever for taxpayers to keep accurate, up-to-date and securely stored logs of all business travel as well as proof of related travel costs. This is because expenses related to business travel can be deducted from taxable income – but only
Maximise Your Business Travel Tax Deduction Read More »
Previously, company losses could (subject to certain requirements) be offset against 100% of taxable income in the following year, with any balance rolling over to subsequent years. Under the new rules, an assessed loss can now only be set off against 80% of taxable income or R1 million – whichever is higher – in the
How the New Assessed Loss Tax Limitation Works Read More »
