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Difference Between Exempt Supplies And Zero Rated Supplies

  • Do you know how many of your employees aren't at work today?
  • Did you know that on average 15 - 30% of your staff could be absent on any given day? And because of the high costs associated with absenteeism in your company that I told you about a couple of weeks ago, it's important for you to reduce absenteeism quickly. So, why don't you implement strategies that are attractive to employees and assist them in staying interested and committed to their work ... ››› more
  • [16 March 2017]
  • Three easy steps to improve your company's accounting management
  • Dear reader, The first quarter of the year is almost finished but you still have a chance to improve the way you run your company and do business. This includes your accounting management. After all, if you can't manage your finances properly, your company won't grow. Now's the time for you to make the changes you need to get your company to grow and succeed. To help you do this, I... ››› more
  • [15 March 2017]
  • Three reasons why it's so important to do a sanitation risk assessment
  • If your employees work in filthy conditions, they're going to pick up all kinds of diseases. They could get stomach viruses, breathing problems, intestinal infections. All of these come from the kind of bacteria that live and breed in damp, dirty, unhygienic places. When your employees get sick, it means lost productivity. You must also deal with COID if your employee is incapacitated for more ... ››› more
  • [10 March 2017]
  • Oops... You promoted the wrong guy! Now what?
  • Peter has been your star employee for years. He's reached his targets and been a great benefit to your company. So you promoted him. You gave him more responsibility, and even some other employees to manage. He seemed like the perfect choice for the promotion. But now he's just not cutting it. He's not meeting his deadlines and his overall performance has taken a radical nose dive! You've tr... ››› more
  • [10 March 2017]
  • How much does absenteeism cost YOUR company?
  • The truth is, the real cost of absenteeism can be extremely high, yet many companies still ignore it! In fact some companies don't even know how much absenteeism costs them. For instance, did you know the cost of absenteeism to your company isn't only limited to your employee's salary for the day he's absent? The costs can actually go up to 3 times that amount taking into consideration the prod... ››› more
  • [10 March 2017]
  • How to work out how much tax your investments attract
  • As a business owner or shareholder, a popular way to invest is to hold or trade shares. You hold shares to make money. Either you'll hang on to your shares for a while and reap the benefits in the form of capital growth and dividends. Or you'll look at selling short to take profits on the movement in share price. The tax consequences hinge on whether the gains or losses you receive are of ... ››› more
  • [10 March 2017]
  • Ask SARS to suspend your payment in two simple steps
  • When it comes to a VAT dispute with SARS, do you know when you should pay, or if you should pay the disputed taxes at all? You need to get this right, or you'll incur unnecessary penalties. You can ask SARS to suspend your payment, with a payment suspension request. Let's look at an example. Example   Furniture Friend gets a VAT assessment for R84 000, including penalties and interest f... ››› more
  • [10 March 2017]
  • If you don't protect your employees' information it could cost you R10 million!
  • You have a legal obligation to protect your employees' data and personal information. This is according to the Protection of Personal Information Act, or POPI. If you don't, you could spend 10 years in jail or pay a R10 million fine! And while we're waiting for the President to confirm the effective date, you'll only have a year to make sure you're doing everything you can to make sure you're ... ››› more
  • [09 March 2017]
  • Eight ways to make sure your staff wear their PPE
  • Why is personal protective equipment (PPE) so important? Because it protects workers from injury! In the real world though, safety professionals are still struggling to get this message across - and make it stick. Unfortunately, expressions like 'Wear your PPE because it says so in the safety rule book' just don't hold up as convincing arguments. So what does work? Let's look at eight way... ››› more
  • [03 March 2017]
  • Five questions you should never ask during an interview
  • I'm sure you know by now that the law doesn't allow any discrimination against an employee or job applicant (Employment Equity Act). So when you plan your interviews with job applicants, protect yourself and your company by making sure you avoid questions that may be discriminatory. Because if you're found guilty of discrimination, you could get a penalty of up to 10% of your business turnover.... ››› more
  • [02 March 2017]
  • Take advantage of these 12 assets excluded from Capital Gains Tax
  • Every time your business sells, donates or scraps an asset and it makes a profit, SARS takes a big bite out of the proceeds. And it calls this bite Capital Gains Tax (CGT). SARS raised the CGT rates in the February 2017 Budget Speech. This means any asset sales you make after this date will cost you more. You can't escape CGT. In fact, if you try to escape it, SARS could easily find you gu... ››› more
  • [01 March 2017]
  • Think you still have plenty of time to get your EE house in order? Think again!
  • At this time of the year, many companies probably think that they still have plenty of time to get their EE house in order, so to speak. Unfortunately, the Department of Labour inspectors work year-round and they are already well into their stride with Employment Equity audits. I have noticed a marked increase in the number of Director-General audits this year compared to the same timeframe la... ››› more
  • [28 February 2017]
  • How to make sure your travel allowances stand up to SARS' scrutiny
  • Travel expense claims and deductions are one of the most common triggers for a SARS audit. Especially for travel allowances. SARS differentiates between a Travel Allowance and a Reimbursive Travel Allowance. If you don't award, tax, and record your staff's travel allowances correctly SARS will pick up the errors and audit you. You might have to pay a 10% penalty for under-deducting PAY... ››› more
  • [23 February 2017]
  • SARS Audits: Know your rights
  • Is there anything worse than the moment when you open that letter from SARS, 'kindly advising you' they're arriving next week to audit your business? Don't panic! There are set rules and procedures that the SARS auditors MUST follow, to protect your rights even while it audits your business. Here are nine things you should know and put into practice now. Statistics show: Your... ››› more
  • [22 February 2017]
  • Three easy steps to improve your company's accounting management in 2017
  • February is almost finished but you still have a chance to improve the way you run your company and do business. This includes your accounting management. After all, if you can't manage your finances properly, your company won't grow. Now's the time for you to make the changes you need to get your company to grow and succeed. To help you do this, I'm going to show you three easy steps ... ››› more
  • [22 February 2017]
  • Use this checklist to choose the best employee to do health and safety induction training
  • When new employees join your company, they need health and safety induction training. That means you have to choose someone to be their training facilitator who has all the right health and safety knowledge and training experience. This can be a tough decision. After all, choosing the wrong person will affect the quality of your employees' training and your company's safety record. Don't m... ››› more
  • [20 February 2017]
  • These three tips will have your annual safety audit done by the end of the day today
  • Annual safety audits are an imperative part of health and safety. They ensure your company complies with your health and safety rules and laws like the OHS Act. The problem with safety audits is they tend to take weeks to prepare and complete. There's all the planning, question setting, document collecting and target choosing to do first. But what if I told you there's a way you can turn this ... ››› more
  • [20 February 2017]
  • Six Important lessons to keep you out of the SARS 'dog box'!
  • Don't change your game plan when you're in the losing corner against SARS, it won't get you out of trouble. Here's a case that has six important lessons all tax payers can learn from - and even though the case is from 2007/8, the lessons are still relevant today! The facts of the case   The taxpayer treated the sale of sand extract from his farm as capital in nature rather than revenue. When... ››› more
  • [15 February 2017]
  • How to calculate the fringe benefits of VAT on company cars
  • One of the most common fringe benefits encountered on modern payrolls is the right to use a company car Where an employee has the right to use a company car, you must calculate the VAT on the fringe benefit as follows: Where the vehicle is a motor car (not a bus or kombi) and the input tax was specifically denied, the calculation is as follows:         0.3% x the determined va... ››› more
  • [15 February 2017]



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