Administrative Penalties For Corporate Income Tax (CIT) To Be Imposed

SARS will be imposing administrative penalties from December 2018 for outstanding Corporate Income Tax (CIT) returns. Administrative penalties will be imposed on companies that receive a final demand to submit a return. In terms of Section 210 of the Tax Administration Act of 2011, non-compliance with regards to non-submission of required CIT returns may be […]

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The Importance of Directors’ Meeting Minutes – “Who, What, Where, When and Why?”

Both your company and you personally are put at risk if you fail to comply with the many fiduciary duties and statutory responsibilities imposed on you by the Companies Act. As part of managing that risk you should prioritise the preparation and retention of correct and accurate minutes of all your board and committee meetings.

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Employers: EMP501 Reconcilliation Deadline

SARS registered employers must submit an EMP501 interim reconcilliation on or before 31 October 2018. The Employer Interim Reconciliation period, referring to the period from 1 March 2018 to 31 August 2018, opened in September and runs until 31 October 2018 During the Interim Reconciliation, employers are required to submit an Employer Reconciliation Declaration (EMP501)

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 “You’re Fired for Misconduct” v “No, I Resign” – Who Wins?

What can you do when an employee-gone-bad tries to frustrate your disciplinary proceedings by resigning? Nothing, according to a 2016 Labour Court decision to the effect that an immediate resignation puts the (now ex-) employee beyond your reach. Take heart though from a new Labour Court decision reversing that. We analyse the judgment and the

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The New Travel Allowances: How Do They Affect You and Are They Working?

The 2018/2019 tax year sees important changes to how, as an employee, you can be reimbursed for your business travel expenses. Both employers and employees should know how they will affect you in practice. We discuss the three types of travel allowance, the new changes, the reasons why SARS has made them, and the administrative

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Your Body Corporate and Arrear Levies: To Sequestrate or Not To Sequestrate?

As a Body Corporate trustee you will understand how important it is to collect arrear levies from defaulting owners. And of course as a section owner you have a personal stake in the process. When normal debt collection processes fail, what do you do? Sometimes it makes sense to apply for the debtor’s sequestration (just

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