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Strikes can cripple your business
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Latest news

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...]

Department of Trade and Industry set to announce new B-BBEE codes...

The Department of Trade and Industry, together with the Black Economic Empowerment advisory council, will announce new Broad-Based Black Economic Empowerment (B-BBEE) codes of good practice at a summit on 3 and 4 October, Fin24 reports. Read on to find out how this announcement could affect your [read more...]

Industrial Action Report finds SA recorded the highest number of strikes last year

A 2012 Industrial Action Report tabled by the Department of Labour (DoL) has showed a significant increase in the number of strikes last year, compared to the previous four years, EyeWitnessNews reports. According to the report, there were 99 strikes recorded last year alone. Here are the key [read more...]

Input Tax Claim

  • Revealed: Five exceptions to the rule against entertainment expenses
  • Entertainment expenses are a tricky area of Vat law. After all, SARS will reject some entertainment-related claims right off the bat. But there are some that SARS MUST allow. Here's a checklist of the five exceptions to SARS' rule against entertainment expenses.... ››› more
  • [26 September 2013]
  • Revealed: The Vat consequences of fractional ownership
  • Fractional ownership allows you to own a share in a desirable vacation property together with other owners. But the Vat treatment of this type of ownership is far from simple. Make sure you avoid inviting a SARS audit by getting the Vat right. Here are the Vat consequences of a fractional ownership.... ››› more
  • [19 September 2013]
  • Discover how Vat works with credit notes so you can avoid SARS penalties
  • Do you know when you should issue a credit note? What about dealing with Vat on credit notes? Read on to find out what these two things include so you can comply with the Vat Act and avoid hefty penalties.... ››› more
  • [10 September 2013]
  • Two requirements your taxable supplies must meet for you to claim them back
  • All it takes is just one mistake for SARS to deny your input tax claim and slap you with penalties and interest! The good news is you can avoid this. Read on to discover the two requirements your taxable supplies must meet for you to claim them back and get the maximum benefit from the Vat system.... ››› more
  • [10 September 2013]
  • Avoid these seven mistakes on your input tax claim
  • Want your input tax claims process to go smoothly? Then avoid these seven mistakes...... ››› more
  • [05 September 2013]
  • Can you claim input tax on company entertainment?
  • There are certain entertainment expenses SARS won't allow you to claim input tax on. Keep reading to find out what they are.... ››› more
  • [20 August 2013]
  • How to guarantee an input tax claim on local flights
  • Very few people know which portions of their air travel costs carry Vat charges. Those who do, know they can claim as input tax on some of the costs. Don't forfeit your input tax claims because of ignorance! Read on to discover an effective way to guarantee your input tax claim of local flights and can get extra cash back in your business's pocket.... ››› more
  • [16 August 2013]
  • Warning: These 3 Vat mistakes could take your business down
  • Don't let bad Vat habits and sloppiness be the downfall of your business! SARS is as ruthless as it is thorough. So do these things right the first time and you won't have to go through a painful Vat audit. Read on to find out which Vat mistakes to avoid...... ››› more
  • [12 August 2013]
  • Five input tax claims you're NOT allowed to make
  • Input tax is the Vat you pay your suppliers in the course of your business as well as Vat paid on goods you import. SARS allows you to claim the input tax for your relevant tax period when you complete your Vat return. While this is the case, there are input tax claims you aren't allowed to make. Read on to find out what they are so you can comply with SARS and avoid penalties.... ››› more
  • [06 August 2013]
  • Four Vat claims municipalities can make to save thousands on their tax bill
  • If you work for a municipality and are in charge of Vat, make sure you save your municipality some money by claiming input tax on these four expenses...... ››› more
  • [05 August 2013]
  • Seven instances where you'll have to issue a valid tax invoice
  • The most important link in the Vat chain is your tax invoice. Get it wrong and you won't be able to deduct input tax on your purchases. What's more, if you issue a defective tax invoice, or fail to issue one within 21 days of making a supply, you could face two years in jail, or face a fine for R80 000. Read on to discover the seven instances where you must issue a valid tax invoice so you can comply.... ››› more
  • [19 July 2013]
  • How to claim Vat back before you're a Vat vendor!
  • One of our Accounting and Tax Club members asked if he can get a Vat refund back on property expenses. The real kicker is, he hasn't registered for Vat yet!... ››› more
  • [18 July 2013]
  • Are these mistakes standing in the way of claiming input tax for your business?
  • As a Vat vendor, it's your duty to charge output tax and claim input tax as long as you can prove your claims and back them up with all the required documentation. But there are certain common input tax mistakes that vendors make again and again. Here are the obvious and most widespread errors that'll stand in the way of your claiming every input tax credit possible. And be warned: The Vat audit team will specifically look for these mistakes when they audit you!... ››› more
  • [03 July 2013]
  • Is your company issuing and receiving valid tax invoices?
  • 'The most important link in the Vat chain is the tax invoice. Get it wrong and you won't be able to deduct input tax on your purchases,' warns the Practical Vat Loose Leaf Service. Don't let your company fall into the 80% of the assessments raised by SARS that relate to defective tax invoices. Read on to find out the eight requirement for valid tax invoices are so you can make sure you issue and receive correct, watertight tax invoices every time.... ››› more
  • [07 June 2013]
  • Learn from Coca-Cola's mistake in the Philippines to ensure SARS pays out your input tax claims!
  • Coca-Cola's petition for a tax refund in the Philippines has just been denied by the Court of Tax Appeals. It's all because of incorrect record-keeping. Locally, your input tax claims will also be turned down by SARS if you don't have valid tax invoices to back up the claims. Here're two steps to follow to ensure SARS pays out your input tax claims...... ››› more
  • [28 May 2013]
  • Did you know you can claim input tax on flowers and 8 other items?
  • One of our clients, Francis, wrote in with a scenario. She wanted to know if she could claim the Vat back on flowers. Here's her question:... ››› more
  • [23 May 2013]




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