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Latest news

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...]

Base Cost

  • Revealed: The three basic tax principles that govern Trusts
  • The taxation of Trusts isn't simple. It all depends on who's got what rights and how they access the Trust's assets and income. Make sure you adhere to these three basic principles to avoid hefty penalties.... ››› more
  • [14 August 2013]
  • Three tax consequences that apply to amalgamation transactions
  • Telecoms giant, Orange has expanded its reach in South Africa through a deal with Nashua Mobile. The deal will allow Orange to extend its brand presence in the country with products aimed at South Africans who travel to countries such as France and Botswana, reports Business tech. While corporate reorganisations provide an opportunity for companies to mutually benefit from each other, there's legal framework that governs corporate reorganisations. So if you're considering a corporate restructure, here are the three tax consequences that apply to amalgamation transactions...... ››› more
  • [14 June 2013]
  • Don't confuse a search and seizure warrant from SARS with curatorship of assets!
  • Taxpayers with a less-than-spotless tax history with SARS are worried by news that The North Gauteng High Court in Pretoria has granted SARS an application for two curators to take control of murdered strip club owner Lolly Jackson's estate and preserve the assets. Why the worry? Well, changes to the Tax Amendment Act means SARS officials can now show up unannounced at your premises with a search and seizure warrant. But this doesn't mean they can just walk in and take all your assets...... ››› more
  • [10 May 2013]
  • All you need to know about CGT if you're selling your business property
  • If you're selling your business property, you're probably not looking forward to working out your capital gains tax or CGT calculations. Especially if you've looked to Australian news sites for guidance recently, as recent CGT rulings have resulted in it being called 'the capital gains maze'. Luckily, it's a bit simpler in South Africa - just remember to exclude the base cost of the property from your CGT calculations...... ››› more
  • [07 May 2013]
  • How to reorganise your business and save your company from triggering immediate capital gains tax
  • Tired of paying thousands to SARS every year? Well I've got some good news for you. I have one way you can reorganise your business without triggering immediate capital gains tax bill. Let's have a look how...... ››› more
  • [29 April 2013]
  • The truth about death and taxes - CGT still applies AFTER you die!
  • Irish entrepreneurs are hoping their voices are heard as they ask for the capital gains tax or CGT that applies to them to be halved from 33% to 16.5%. This comes after the CGT rate was upped from 30% to 33% in the country last December. In South Africa, businesses of all sizes are also doing all they can to pay less CGT - but you're in it for the long run - you'll still effectively be paying CGT after death. Luckily, four types of capital assets aren't affected by CGT when they're donated on death...... ››› more
  • [11 April 2013]
  • Do you know when NOT to pay Capital Gains Tax?
  • Kenyan property owners are 'set for another round of pain starting in the next financial year if the taxman heeds advice from the Parliamentary Budget Office,' warns The Star in Kenya. Why? Well, the latter has recommended that the Kenya Revenue Authority considers levying tax on income gained from appreciated property values. That's normal in South Africa where Capital Gains Tax (CGT) has been applicable to property sales for years. It's also applicable on investments, the sale of your company, a holiday home and much more. But, what most people don't realise is there are actually instances where you DON'T have to pay CGT. Let's look at them...... ››› more
  • [08 April 2013]
  • Reduce your CGT obligations by reducing the base cost of your assets - it's legal!
  • Capital gains tax or CGT is usually a nightmare for accountants. Not only do you need to keep accurate records of each capital asset in the business, but also notes of the assets' condition, date of disposal, and any profits made when you dispose of it. Luckily, there are two perfectly legal ways to lower the amount of CGT you pay over to SARS...... ››› more
  • [27 March 2013]
  • Do this today and never fail a CGT-based tax audit again!
  • Capital gains tax is in the news again. Britain's customs officials are concerned that the latest figures show the number of people trying to avoid it has leapt up 43% over the last year! Locally, SARS has similar fears. And that's why it's clamping down on tax avoidance by increasing its tax audits. Lucky for you, there's a simple way to remember to pay capital gains tax to SARS each time you dispose of an asset...... ››› more
  • [14 March 2013]
  • 2 More ways to reorganise your business and save your company without triggering immediate capital gains tax
  • On the 13th of February 2013 in Tax Matters we gave you one way to reorganise your business without triggering immediate capital gains tax bill. There are another two. Let's have a look at them.... ››› more
  • [12 March 2013]
  • Two easy ways to lower your capital gains tax burden!
  • Capital gains tax. Three words that tend to send a shiver down a business owners' spine. Because you know you're obliged to pay CGT on your capital assets, but there are constant changes to this area of tax. Luckily, recent changes to CGT are actually to your business' benefit - find out how you can now legally reduce the CGT your business pays over to SARS!... ››› more
  • [06 March 2013]
  • Capital Gains Tax in South Africa - Read this before you struggle with new capital gains tax rulings!
  • Capital gains tax in South Africa is usually a nightmare for businesses when they sell capital assets. Now, a change to the Taxation Laws Amendment Bill means you'll effectively pay over less capital gains tax - here's what you need to know.... ››› more
  • [04 March 2013]
  • Invest in a real estate investment trust to legally avoid capital gains tax!
  • With the budget speech just weeks away, mosttax payers are keen to hear about potential tax changes. One change that's guaranteed to take place is the implementation of REITS or real estate investment trusts from 1 April 2013. Here's how you can take advantage to reduce your company's tax burden...... ››› more
  • [08 February 2013]
  • To get Capital Gains Tax right in South Africa there're five things you need to understand to avoid SARS smacking you with a 200% CGT tax evasion penalty!
  • In last year's Budget Speech, SARS raised its Capital Gains Tax in South Africa (CGT). This means, every time your business sells, donates or scraps an asset and it makes a profit, SARS will now take an even bigger bite out of the proceeds. Here's what you need to do to ensure you're working out your company's Capital Gains Tax payments correctly...There's no escaping Capital Gains Tax! If you try, SARS could easily find you guilty of tax evasion and slap you a with 200% penalty.... ››› more
  • [16 January 2013]



There are 47 ways to get more money back from SARS
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Save your business from penalties by being an instant audit expert!
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Make a dismissal stick, even if it goes to the CCMA
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Get the only DoL recognised way to train your HSE representative
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You have to dismiss an employee, but do you know how?
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3 Instances where you don't have to pay Capital Gains Tax...
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Exclusive report: Calling all HR managers - this is a must read!
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Improve your cash flow and eliminate simple accounting mistakes
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The HR resource that’s making over 13 240 managers' lives MUCH easier!
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Employers - You must display a summary of the BCEA and EEA
Get your summaries here
Find out how to recruit staff effectively
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Cut your health and safety training bill by 80%
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News
ATTENTION EMPLOYERS: Even part-time staff must have a contract

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40 Tools to Manage your Business Tax Risk

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MANDATORY NOTICE FOR ALL EMPLOYERS: no matter how many people you employ 1 or 100

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Giant health and safety mistakes that 2 out of 3 companies make every year

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Save R24 469 by keeping an accurate logbook today

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Attention Employers! From the Department of Labour: Not displaying summaries of the EE Act and BCEA in the workplace is punishable by law

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