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Latest news

What can you do about employees who didn't show up to work because of today's taxi strike?

It's a jungle in Jo'burg this morning. Not only is the heavy raining causing havoc on the roads, but thousands of workers are stranded due to today's National Taxi Alliance (NTA) strike. And that's bad news for your business. Here's what you need to know about how to handle employees who couldn't [read more...]

How to avoid a Miss SA type nepotism scandal in your workplace

There's a fresh scandal surrounding the Miss South Africa pageant. A few weeks back, news reports indicated that the general public wasn't happy with the choice of judges for the pageant. Now there's a rumours of t. And it's put the spotlight back on nepotism in the workplace. [read more...]

Strikes: What does 'issue in dispute' mean?

News reports this morning indicate that government intends to meet with the Association of Mineworkers and Construction Union (Amcu) today in a last ditch attempt to halt a mass strike in the mining sector. The looming strike, which is expected to have a devastating impact on the economy, has [read more...]

Income Tax

  • Do you know whether your business is excluded from Section 23(m) of the Income Tax Act?
  • No one likes to hand more money over to SARS than they have to. That\'s why Section 23(m) on the Income Tax Act is such a firm favourite with companies and business owners alike. It deals with the types of business-related expenses, losses and allowances you\'re able to deduct to pay less tax to SARS. But here\'s the thing that many people don\'t realise, not everyone can use Section 23(m) to their advantage... ››› more
  • [22 April 2013]
  • Will SARS allow me to claim home office allowances on this?
  • Our Tax Helpdesk service gets dozens of tax queries every week. Here's an interesting query we received recently, relating to home office deductions. ››› more
  • [06 March 2013]
  • Business profits down this year? Find out if your business qualifies for a tax loss
  • Last week, mining group Anglo American posted a pre-tax loss for 2012 of $239 million. According to the group, this tax loss is a result of all the platinum strikes South Africa mines have experienced lately. That\'s bad news for the company and is the reason why they\'re expected to cut 14 000 jobs in the next financial year. The good news, however, is that if something similar happens to your company, you can shrink your tax bill if you know how to offset tax losses against your future income. ››› more
  • [25 February 2013]
  • With G20 nations clamping down on tax avoidance, it's more important than ever to be prepared for a tax audit
  • At its meeting in Moscow last week, the global finance ministers of the G20 promised to get behind \'collective action\' to prevent tax avoidance by multinational businesses. With SA a key member of the G20, SARS is expected to follow suit. This means, it\'ll implement even more business tax audits this year to curb tax avoidance in SA. Your company could be on SARS\' tax audit list... ››› more
  • [21 February 2013]
  • Make sure SARS doesn't see your business transactions as tax avoidance!
  • The G20countries are clamping down on businesses that find loopholes to pay less tax. And last week\'s State of the Nation Address confirmed SARS is on the look-out for any form of tax avoidance to penalise you, as it\'s desperate to fill up its coffers. Here\'s how to make sure your business transactions will stand up to SARS\' scrutiny as legal and not as tax avoidance... ››› more
  • [21 February 2013]
  • How to know if you must pay tax on your company's foreign income
  • Online retail group, Amazon.com is in big trouble with the taxman because of the tax it\'s paying on foreign income it\'s earning in the UK and other markets. According to reports, \'Amazon earned more than £7 billion in the UK but paid just £2.3 million in corporation tax\'. The group\'s in similar trouble with the tax authorities in France and America. What about your company? Is it paying the right amount of tax to SARS on income earned outside of South Africa. Here\'s how to find out... ››› more
  • [21 February 2013]
  • You need to consider the tax implications before you pay your employees' bonuses
  • \'Maria Ramos and members of her executive will not receive bonuses this year as they take responsibility for the bank\'s disappointing performance,\' reports the Business Day. That\'s a great step to take to ensure that the bank improves its performance and live up to its shareholders\' expectations. But your employees might not agree - after all if they\'ve done a good job, they deserve to be rewarded. But there\'s more to paying employee bonuses than just deciding whether they should get one or not - you also need to consider the tax implications of your bonus payment method. ››› more
  • [18 February 2013]
  • Make sure you know which fringe benefits are taxable and which aren't to avoid a 10% penalty from SARS
  • The new R105 minimum wage set for farmworkers is just the tip of the iceberg of what farmers will really being paying. After all, reports iAfrica.com, farmers also need to account for fringe benefits such as meals, overalls and accommodation, as part of workers\' wage packet, depending on their individual circumstances and employment contracts. The same may be true in your company if you provide your employees with fringe benefits like a company car, or if you give them refreshments or loans. Here\'s what you need to know about fringe benefits to ensure you don\'t get into trouble with SARS. ››› more
  • [13 February 2013]
  • Four ways to ensure your staff bursaries are tax-free
  • South African universities go back to work this week as the official varsity calendar gets under way. That's great news if you plan to send a staff member back to 'school' to further his degree or training. After all, doing so means better trained staff and a great tax break for your business too. Here are the SARS' requirements for company bursaries you need to know about... ››› more
  • [08 February 2013]
  • Negotiate a tax debt write off with SARS if you can't pay
  • Companies struggle to pay off their tax debt if interest has been added to a long overdue account. If your company is one of them, follow Edcon\'s example. The clothing group just avoided a tax battle with SARS by reaching atax settlement agreement. It Here \'s how to approach SARS for a tax debt write off or atax compromise agreement if your company doesn\'t have enough funds to pay off its tax debts. ››› more
  • [06 February 2013]



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