The SARB’s first interest rate hike in November 2021, following almost two years of record low interest rates, signaled a change in the interest rate cycle earlier than many experts had expected, with further increases planned in each quarter of 2022, 2023 and 2024. Rising interest rates have a significant impact on the economy, and
Interest Rate Hikes: How to Buffer Your Business in 2022 and Beyond Read More »
According to the latest survey into the state of employee package offerings in Africa by locally based global human resources management firm Willis Towers Watson, “only 17 percent of employers in Africa believe that their benefit strategy is effective across all areas…”. This illustrates the general perception of employee benefits among African companies, including South
SMEs – Why You Should Consider Employee Benefit Packages  Read More »
The Tax Ombud recently published a list of the top 10 complaints made against SARS over the last 8 years by local taxpayers. It not only makes for very interesting reading, but also provides taxpayers with warning signs regarding the biggest and most common pitfalls when dealing with the tax authority. The Ombud also launched
The Top 10 Complaints Against SARS: What You Can Do to Protect Your Rights Read More »
Since 2001, taxpayers in South Africa have been liable for Capital Gains Tax (CGT) on profits (capital gains) arising from the disposal of assets – at a hefty 18% for individuals. There is a less well-known specific exclusion to the CGT payable on the disposal of a small business or its active business assets that
How To Get a R1.8m CGT Exclusion When Selling Your Small Business Read More »
The last couple of years, and the prolonged lockdown, have highlighted the convenience of working remotely and migrating work to digital platforms. “Cloud computing” is one of the trendier buzz word phrases that have increased in popularity, but what exactly does it mean and how can it benefit your business? Simply put, cloud computing refers
Cloud Computing Offers Small Businesses New Age Solutions for Less Read More »
When you die your grieving loved ones could face cash flow problems unless you proactively take steps now to ensure that they will have access to enough ready funds for them to live comfortably whilst your estate is being wound up. Critically, all your bank accounts and other assets will be frozen and inaccessible to
Don’t Let Delays in the Master’s Office Leave Your Family in Financial Distress Read More »
“Mobile devices, high-speed data communication, and online commerce are creating expectations that convenient, secure, real-time payment and banking capabilities should be available whenever and wherever they are needed” (Chair of the Federal Reserve of the United States, Jerome Powell) South Africa is already a cash-heavy economy as it is and this reliance on cash is
Small Businesses: Reap the Benefits of Cashless Transactions Read More »
“The future of money is digital currency” (Bill Gates) If you are thinking of buying – or have bought – any “crypto asset” such as a crypto currency like Bitcoin, Ethereum, Polkadot, Solana (or any of the many other crypto currencies springing up all over the place), be aware of the tax implications. For a
Crypto Assets and Tax – From the Horse’s Mouth Read More »
As SARS improves its abilities to collect taxes from businesses, more companies have found themselves on the receiving end of a SARS letter of demand. Receiving such a letter of demand is often an intimidating surprise for business owners and managers, and can cause panic and stress, even among businesses that would consider their tax
Letter of Demand from SARS? Handle With Care! Read More »
Microinsurance in South Africa is regarded as the next big thing, however there is still a lot to be learned about this growing area of insurance and how small businesses and their employees may benefit. Traditionally the microinsurance sector offered only funeral cover. However, since the Insurance Act of 2017 became effective on 1 July
SMEs and Microinsurance: Benefits and Risks Read More »
