In his Budget Speech of 2013, Minister Pravin Gordhan referred to the implementation of “… various measures proposed to protect the tax base and limit the scope for tax leakage and avoidance. “One such measure was”… the taxation of trusts will come under review to control abuse.” On 26 October 2016 the Taxation Laws Amendment […]
Change of Taxations of Loans To Trusts Read More »
“Creditors have better memories than debtors” (Benjamin Franklin) When you are struggling to recover your money from a recalcitrant debtor company, applying for its liquidation can be a very powerful collection tool. Suddenly the directors are faced with the imminent prospect of completely losing control of their company, its business and its assets to a
Creditors: When Can You Use a Liquidation Application to Collect Debt? Read More »
2016 was our annus horribilis with drought, political uncertainty, low commodity prices, rising inflation and a weak currency. From such a low base, economists are arguing things should get better. What will drive the economy in 2017? Balance of Payments Our economy has been running a substantial trading deficit which puts pressure on the Rand
Will 2017 Be Better Than Expected? Read More »
Failure by “designated” employers to lodge their employment equity reports on time risks severe penalties, with first offenders risking a fine of the greater of R1,5m or 2% of turnover (increasing to the greater of R2,7m or 10% of turnover for serial offenders). Lack of enforcement in the past (apart from a few high-profile exceptions)
Employers: Your EE Report Deadline and the R1,5m Fine Risk Read More »
There have been many articles in the financial press over mandatory audit firm rotation (MAFR). This followed an announcement by the Independent Regulatory Board for Auditors (IRBA) that they intend to implement MAFR in South Africa. MAFR is intended to strengthen auditor independence to enhance audit quality. There is no universal acceptance or rejection of
Mandatory Audit Firm Rotation is in the News – Will it Apply to You? Read More »
“Parting is such sweet sorrow” (Shakespeare) One of the predicted negatives from the Companies Act (the Act) and the King Codes was it would be difficult to find directors. The Act and King Codes put extensive liabilities on directors, encouraged annual appraisal of directors, term limits for directors and recommended strong codes of conduct to
Directors Don’t Like Goodbyes Read More »
Dear Student BGR Pyper Turner Ing/Inc would like to help you financially with your study costs as well as give you an opportunity to complete your traineeship with a small but highly regarded audit firm, with an enjoyable work environment in Somerset West. Bursary for full time studies: For successful applicants, we are offering a
BACC Hons. Bursary offered by BGR Pyper Turner Inc Read More »
Note: What follows is of necessity only a brief overview of some very complex new provisions and, particularly if you are a trustee or administrator, it is essential that you familiarise yourself with all the changes. Contact us if you need any help. The Sectional Titles Schemes Management Act (“STSM”) applies only to sectional title
Sectional Title Schemes Read More »
We recently discussed the Special Voluntary Disclosure Programme (VDP) which lets non-compliant taxpayers voluntarily disclose offshore assets and income in order to regularise both their tax and exchange control affairs. As promised, here is an update for you on current changes to the SVDP. Please note that the final amendment Bill has not at date
The Special VDP Begins – What’s Changed? Read More »
There is a feeling that taxpayers are getting fed up over the amount of tax they have to pay. Add to this the adverse publicity SARS has received as one of the focal points of the current political struggles and the string of suspensions/dismissals of senior SARS officials. Despite this, statistics for the months April
Are You Struggling to Get Your Tax Refund? Read More »
