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 …
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 …
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 …
Increasingly, employees who reach “retirement age” have no desire at all to give up working, so they agree with their employers to stay on. That should be a win-win outcome but, as a recent Labour Appeal Court case shows, employers need to manage the process carefully and with due regard for the potential pitfalls. The …
A Million Rand Warning: Act When Employees Reach Retirement Age Read More »
We find ourselves in the midst of a deadly pandemic, yet incredibly stats suggest that up to 80% of South Africans have no “Last Will and Testament” in place. We discuss firstly how and why leaving your loved ones a will as part of a full estate plan will protect them, in their hour of …
Estate Planning and Wills: A Checklist to Protect Your Family Read More »
By midnight on 30 June 2021 you must be fully compliant with the Protection of Personal Information Act (POPIA) if you in any way process any personal information relating to a “data subject”. Very few businesses and organisations will fall outside that net, and even fewer will fall into any of the exemptions. The risks …
11 POPIA Questions to Ask Yourself Before 30 June 2021 Read More »
