In planning our estates and drafting our wills, our focus is inevitably on protecting our (human) loved ones. But spare a thought also for your pets. What will become of them when you are no longer around to look after them? We’ll share three ideas for ensuring that they don’t end up needlessly euthanised or
Estate Planning: Remember your Pets! Read More »
The South African Reserve Bank recently held interest rates for the third time in a row, keeping the repo rate at 8.25%, with the prime lending rate at 11.75%. The rates therefore remain high and show no signs of coming down. High interest rates can affect almost every aspect of your business, from sales to
How to Survive Ongoing High Interest Rates in 2024 Read More »
Tax compliance is accepted as an indicator of how well the affairs of a business or individual are managed and their good standing in terms of their legal obligations. It also saves a great deal of time and money.Achieving and maintaining tax compliance in 2024 will be more challenging than ever before, as SARS continues
How to Achieve Tax Compliance Throughout 2024 Read More »
At some point over the many years of submitting returns and paying taxes, individual and corporate taxpayers will have grounds to dispute an assessment or decision from SARS. Fortunately, there are clear dispute resolution rules that guide both the taxpayer and SARS in resolving these disputes. Earlier this year, some changes were made to SARS’
Dispute with SARS? Here are the New Rules… Read More »
You have had your bright idea, saved up for months, and finally quit your 9-to-5 to run your own business. You have worked out the finances carefully but it’s still possible you have missed something. Starting a business can be surprisingly expensive, and much of this is down to a variety of hidden expenses. Failure
The Hidden Costs of Starting a Business Read More »
SARS has imposed administrative non-compliance penalties on hundreds of thousands of taxpayers this year, following recent changes to the admin penalty rules. Once-off and especially recurring penalties quickly add up to a significant tax debt, and also lead to a non-compliant tax status and tax refunds being withheld. Here’s what to do if you
SARS Admin Penalties: What Taxpayers Can Do Read More »
Most tax criminal offences are not premeditated acts of tax evasion, but ordinary events that now – in terms of the Tax Administration Act – expose individuals and businesses to the possibility of committing offences that carry harsh penalties, including fines, imprisonment, and other implications for those convicted. With the requirement that a tax criminal
Common Tax-Related Criminal Offences, and How to Avoid Them… Read More »
Of course we all want our loved ones to be looked after when we are gone, and we all know the importance of leaving behind a valid and properly drawn will to ensure that our last wishes are honoured. But knowledge and action are different things, and our courts must regularly sort out bitter family
Can a Video Call be a Valid Will? Read More »
Recent legal and tax amendments have considerably altered the trust landscape, placing onerous new duties on the shoulders of all trustees in South Africa, while also exposing them to significant risk, with penalties for non-compliance including substantial fines of up to R10 million or imprisonment for up to 5 years, and some of the impossible
The Risky New Trust Landscape – What Trustees Need to do Now Read More »
South Africans are expecting to hear from SARS, with Tax Season 2023 open since 7 July. Knowing this, cybercriminals will also be intensifying their email “phishing” attacks by sending emails that seem to come from SARS – often apparently notifying you of a tax refund or scaring you with outstanding debt or penalties – created
SARS Warning: Beware Scam Emails! Read More »
