By the end of this month, the second provisional income tax payments for companies are due for a financial year that certainly ranks among the most difficult in recent memory – a year in which many business owners realised, as Thomas Dewar once put it, that paying income tax is in fact better than being
Provisional Income Tax Due 26 February: Do’s and Don’ts for Companies Read More »
With Fitch and Moody’s downgrading South Africa’s credit rating even further and the political and economic climate becoming increasingly erratic it’s perhaps unsurprising that more and more people are electing to move their money offshore. While this may seem to be a simple solution for those looking for stability it is also easy to make
Five Mistakes to Avoid When Investing Offshore Read More »
South African companies are exposed to a significant tax risk. Companies are liable for a range of direct taxes, indirect taxes and employees’ taxes that are continuously subject to legislative changes and administrative improvements by SARS and National Treasury. This means not only great complexity and high cost in terms of compliance, but also high
Companies: How to Manage Your Greater Tax Risk in 2021 Read More »
There has been much media coverage of a recent High Court decision, rightly hailed as a major victory for the rights of opposite-sex life partners. In a nutshell, after the one partner died “intestate”, the Court ruled that the other partner was entitled to share in the estate as though there had been a marriage
Life Partners – You Still Need a Will and a Cohabitation Agreement! Read More »
Covid-19 continues to alter the fundamental ways we do business. While many organisations had already been partially conducting meetings online the pandemic has brought this practice into sharp focus and 86% of employed people now take part in an online meeting at least once a week. Furthermore, according to Forbes, from 2010-2020, there has been
Six Tips for More Effective Online Meetings Read More »
It is a sobering statistic that 70% of family businesses do not survive into the second generation – a significant loss considering the time, effort and investment required to start, manage, and grow a business in South Africa. Ensuring your business can survive beyond the loss of an owner, a partner or another key individual
Leaving a Legacy: Ensure Your Business Survival with a Succession Plan Read More »
Preparation is of course always key to success, and compliance with POPIA (the Protection of Personal Information Act) is no different. Do not be misled by the scare stories about having to comply immediately just because POPIA is now in force, but equally don’t fall into the trap of thinking “I can ignore this for
POPIA: A Practical 4-Step Action Plan for your Business Read More »
At a time of deep economic recession, small businesses must manage their accounting and tax functions efficiently and smoothly to avoid any unnecessary costs like SARS penalties. Making elementary mistakes with a small company’s tax affairs can have disastrous and costly effects for a firm’s ability to survive these harsh times. In this article, we
The Five Most Common Tax Pitfalls That Small Business Owners Should Avoid Read More »
National Treasury is reviewing all of its business tax incentives to determine to what extent they are contributing to policy objectives. One such incentive under review is the “Section 12J” incentive, which allows an investor a deduction of the full amount invested in a Section 12J VCC (Venture Capital Company), provided certain requirements are met,
Tax Incentives to Invest in Small Business: The Clock is Ticking Read More »
The coronavirus pandemic arrived like a thunderbolt and the unique situations it created found many companies unprepared and disorganised. Around the world, organisations began closing as it was found their emergency planning was not up to scratch and basic functions of the company could not exist in the new world. Now that we are half
Six Important Business Lessons From The Coronavirus Pandemic Read More »
