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

  • Don't add to your tax crimes by selling or hiding assets if you're declared insolvent!
  • Julius Malema's assets are being kept in storage because he doesn't have enough money to pay off his R16 million SARS' tax bill. Now there's speculation that he's been donating or hiding assets. This is the worst thing you can do if your tax affairs are under SARS' spotlight - it amounts to tax fraud. But don't panic that SARS will leave you with nothing if declared insolvent, here are four asset types they can't seize. ››› more
  • [05 February 2013]
  • Three ways to ensure your charitable donations qualify for a SARS tax break
  • On Wednesday, Patrice Motsepe, the fourth richest man in South Africa, joined the likes of Warren Buffett and Bill Gates in pledging to donate at least half his family's money generated by their assets to the poor. While this is a big move for an individual, it's not just individuals that should use donations to better the community. Companies should follow suit too - not just for the good feeling you'll be left with, but also to take advantage of SARS's charity deduction tax break... ››› more
  • [01 February 2013]
  • Avoid these seven tax traps when you prepare for a tax audit
  • As FastJet airline can tell you, a tax audit is no joke. The amount of tax FastJet has to pay Tanzanian authorities almost doubled when interest and fines were added to the outstanding taxes. Here in South Africa, it\'s no longer a question of whether or not a business will be subject to an on-site tax audit; it\'s a matter of when. If your business is facing a tax audit, there are seven \'tax traps\' you need to avoid to make sure you steer clear of hefty penalties and interest. ››› more
  • [01 February 2013]
  • Boost the economy with Reaserch and Develpment and get every cent back from SARS!
  • Businesses are hesitant to undertake research and development (R&D) as it tends to cost a small fortune in time and money. But you should get your company involved. Especially since SARS offers you a 100% R&D deduction tax incentive. This is a much higher percentage than the tax incentive offered in America, where R&D is said to \'pave the future\'. So what are you waiting for? Get involved in R&D to boost knowledge your industry, aid the economy, and get the money back from SARS! ››› more
  • [31 January 2013]
  • You have less than a week to meet two SARS eFiling tax deadlines!
  • Two important tax deadlines are looming for eFilers this week. The first is for provisional tax payers using eFiling; the second is for eFiling tax payers to pay SARS any outstanding assessed tax. But what can you do if you don't have enough in the bank to pay SARS? There are five steps to follow. ››› more
  • [28 January 2013]
  • Cut the cost of upskilling staff by offering in-house training and tax-exempt bursaries!
  • The financial services sector needs to invest in large-scale training initiatives - particularly to avoid the high failure rates experienced among brokers writing the FSB's regulatory exams. But this doesn't have to be a case of sending money down the drain. You can now offer employees a tax-exempt bursary, and if you offer them in-house training, it's tax-free. Check to see if the bursaries you offer staff meet these five conditions to qualify as a tax-exemption. ››› more
  • [28 January 2013]
  • Use this tip to claim a tax deduction on every day office wear and tear
  • Every time you switch on your office air conditioner or activate your security system, you're shortening its lifespan. But you could be using it to create a great tax deduction too. This is thanks to SARS' wear and tear allowance. It's time your office starts using it... ››› more
  • [25 January 2013]
  • Avoid criminal sanctions by ensuring your business is tax compliant!
  • The annual budget speech usually has a huge impact on tax practitioners. Even more so this year, as government has already announced a new regulatory framework will be set up for tax practitioners from July. And this year's budget speech coincides with the tax year-end, so tax practitioners will have less time to help their clients implement changes than before. There are six ways to ensure your business will still be seen by SARS astax compliant. ››› more
  • [25 January 2013]
  • Seven easy ways to protect your business from tax fraud!
  • White collar crimes like fraud and minor theft tend to be blown off by businesses as petty or not worth prosecuting. The general attitude is: 'Everyone does it'. But you won't get away with it - nor should your employees. Here are seven steps you can use to protect your own business from fraud... ››› more
  • [23 January 2013]
  • Are you one of the 17 000 tax practitioners not yet part of a professional body? You only five months to get your affairs in order!
  • Recent figures from SARS show that up to 17 000 of the 34 000 operating tax advisors and practitioners do not belong to a controlling professional body. SARS also found that 9.5% of tax practitioners are not tax-compliant in that they are either not registered with SARS or their own tax affairs are not in order. You only have five months to get your affairs in order to meet the TAA requirement. Here's why you need to comply. ››› more
  • [21 January 2013]



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