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What does the new Employee Tax Incentive Bill mean for your business?
Unemployment is a big problem in South Africa. So it's no wonder that government has finally stepped in to reverse the high levels that affect the youth. How? By making sure its new Employee Tax Incentive Bill comes into effect. And it will, the minute 2014 ushers in. Here's what you need to know [read more...]Research finds that absenteeism is the reason South Africa's losing its competitive edge
New research has found that South Africa's losing its competitive edge. And it's all thanks to absenteeism. That's just the tip of the tip of the iceberg. There are other worrying trends when it comes to sick leave abuse in the workplace. Here are the details of the study... [read more...]New B-BBEE codes unveiled! Find out what this means for your business...
Trade and Industry Minister Rob Davies has unveiled the new Broad-Based Black Economic Empowerment (B-BBEE) codes of good practice. Davies announced the new codes yesterday at the B-BBEE summit in Midrand. Reports suggest the codes will be published in the Government Gazette on October 11. Read on [read more...]| by FSP Business, 17 October 2013 |
DT is a tax imposed on shareholders when they receive their dividends.
"You can't afford to make a mistake when declaring the dividends, paying them out, or taxing them. If you make an error, you could be found guilty of tax evasion and face a 200% penalty," warns the Practical Tax Loose Leaf Service.
To help you complete the DTR2 form quickly and easily, the Loose Leaf Service gives you a definition of the five terms you'll see on the form.
Here are the definitions of the five terms you'll see on the DTR2 form
#1: Submitting entity - This is the entity that's registered for dividends tax and the entity that must submit information and payments to SARS.
#2: Entity received from - The company that declares and issues the dividend.
#3: Dividend recipient - The person getting the dividend.
#4: Dividends tax number - This is the income tax reference number of the taxpayer or the entity.
#5: Payment reference number (PRN) - This number appears on the DTR2. If you submit a payment to SARS, you MUST use this number so SARS can allocate your payment correctly. If you don't, SARS assumes you haven't made the payment and will penalise you.
Remember SARS scrutinises DT. Knowing the meaning of these terms will help ensure you complete your DTR2 form correctly.
One of our workers stayed away for two weeks and never informed us of her whereabouts. We had to employ somebody else to replace this employee. Two weeks later she returned and now demands her position back. What is ... [see the answer]
