Tax avoidance Tax evasion Legal Illegal Uses legitimate tax strategies Uses deceptive practices Transparent reporting Concealment of information Works within tax law Violates tax law May be encouraged through tax incentives Subject to penalties and prosecution
Tax Avoidance vs Tax Evasion: Toeing the Line Read More »
As Business Email Compromise (BEC) fraud surges, recent High Court decisions have been clear – it is you as debtor who must “seek out your creditor,” or carry the loss if a scammer strikes. Blaming your supplier for not protecting its computer systems properly won’t help you. The responsibility of verifying all emailed banking details
Verify Banking Details Before Paying Any Invoice – You’re at Risk, Not the Creditor Read More »
“Protect Yourself – Use Only Registered Tax Practitioners”was among the first messages from SARS this year. The message also highlighted the risks of engaging the services of unregistered practitioners and provided an online look-up feature where a practitioner’s registration can be verified. Not only are we proud to confirm that our team of tax
Why Use a Registered Tax Practitioner? Here’s What SARS Says… Read More »
The proposed VAT increase of 0.5% in 2025 and another 0.5% in 2026 is the big news from Budget Speech 2025. The increase is strongly opposed by political parties within and outside the GNU – but it is only one way in which individual and corporate taxpayers will bear the brunt of another substantial Budget
Budget 2025: How It Affects You and Your Business Read More »
The National Minimum Wage (NMW) for each “ordinary hour worked” has been increased from 1 March 2025 by 4.4% from R27,58 per hour to R28,79 per hour. Domestic workers: Assuming a work month of 22 days x 8 hours per day, R28,79 per hour equates to R230,32 per day or R5067,04 per month. Of course,
Effective 1 March 2025: New National Minimum Wage Read More »
As a business owner or financial manager one of the most important decisions you will make is whether to buy or lease the equipment your business needs to operate. This decision could have far-reaching financial consequences, particularly for smaller firms – so it must be taken seriously. Here are five things to consider when deciding
5 Things to Consider When Buying vs Leasing Equipment Read More »
If you don’t agree with an assessment from SARS, swift action and careful management of the dispute process will maximise your chances of a favourable outcome. This is because various deadlines must be met, a payment suspension must be requested, and a solid objection must be presented and managed to final resolution. Fortunately, we’re here
Disagree with SARS? Here’s How we Can Assist You Read More »
A balance sheet is a vital financial report for a business, providing a snapshot of the company’s financial health by detailing its assets, liabilities and owners’ equity. These are also used to calculate important financial ratios. A balance sheet is essential reading for all stakeholders, including businessowners, managers, lenders and investors, as it offers valuable
What Your Balance Sheet Says About Your Business Read More »
Increasingly, South Africans are acquiring foreign assets – investments, bank accounts, properties and the like. If that applies to you, you’ve no doubt wondered whether your local South African will is enough to cover all your assets globally, or if it only applies to your local assets? Even if it does apply globally, should you
Do You Need a Second Will for Your Overseas Assets? Read More »
The second provisional tax deadline for the 2025 tax year is just days away (28 February 2025). It’s the trickiest and most important provisional tax deadline of the tax year, because the income estimates on which it’s based must be highly accurate. Estimates that don’t fall within 80 – 90% of your actual taxable income
Are You Ready for the Next Provisional Tax Deadline? Read More »
