Companies need to take note of a new warning from SARS that it will be imposing administrative penalties from December 2018 for outstanding Corporate Income Tax (CIT) returns. Until now, penalties have only been imposed for failure to lodge personal returns. The penalties, says SARS, “range from R250 to R16,000 per month that non-compliance continues,
Beware the New Corporate Income Tax Penalties! Read More »
There are only run-of-the-mill tax deadlines for November but companies need to take note of a new warning from SARS that it will be imposing administrative penalties from December 2018 for outstanding Corporate Income Tax (CIT) returns. Until now, penalties have only been imposed for failure to lodge personal returns. The penalties, says SARS, “range
Beware the New Corporate Income Tax Penalties! And Your Tax Deadlines For November Read More »
As a small business you want your accounting software to do the job quickly, securely and cost-effectively, making you as competitive as possible against big business. We discuss how the technological revolution is reducing your costs, and we look at what “cloud accounting” is and how it works. It may or may not suit your
Cloud Based Accounting: Ideal For Your Small Business? Read More »
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
Administrative Penalties For Corporate Income Tax (CIT) To Be Imposed Read More »
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.
The Importance of Directors’ Meeting Minutes – “Who, What, Where, When and Why?” Read More »
Help your auditors to help you. Work together with them, and prepare properly. That’s the best way to maximise your audit’s value to you and to your business. Your goal is an audit which gives you assurance that your systems are sound and that your annual financials fairly reflect your economic position, whilst also containing
Get the Most Out of Your Audit While Saving Cost Read More »
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)
Employers: EMP501 Reconcilliation Deadline Read More »
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
“You’re Fired for Misconduct” v “No, I Resign” – Who Wins? Read More »
It’s an exciting time, buying your first house. There’s nothing quite like it, and it’s difficult to over-emphasise quite how important a step it is in your life. Preparation being as always key to success, don’t be tempted to rush into anything. Take it slowly – plan, plan and plan again. We’ll share some tips
Buying Your First House – An Action Plan Read More »
Statistically, almost three quarters of businesses that suffer a major catastrophic event (like a flood or a fire) never recover. 43% never trade again and a further 29% go out of business within two years. Fortunately you can easily protect your business from that sort of risk by insuring not only against loss of assets,
Do You Need Business Interruption Insurance? Read More »
