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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...]

Input Tax Claims

  • 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]
  • 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]
  • 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]
  • 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]
  • Vat vendor: Don't let changes to the TAA confuse you about input tax deductions!
  • SARS is expected to make a number of new provisions in this year's income Tax Amendment Act or TAA. The reason? Strengthening the act will ensure SARS recovers as much as it can from companies that've registered with it. But don't see this as all bad news - you still have the right to make input tax deductions from SARS if you're a registered Vat vendor! Here's how...... ››› more
  • [13 May 2013]
  • Use these guidelines to claim input tax on local flights
  • Not many people know which portions of their air travel costs carry Vat charges which can be claimed as input tax. Do you? You don't have to forfeit your input tax claims anymore. Read on to find out what you need to do to guarantee you get cash back in your pocket on all your local flights.... ››› more
  • [07 May 2013]
  • Vat Matters: JHB Vat Masterclass - Only 10 seats left for 15 & 16 May 2013
  • The Vat Masterclass Series has taken Joburg by storm and the bookings are flooding in! Seats are limited. And they're filling up fast!... ››› more
  • [25 April 2013]
  • Vat Matters - Bookings are now open for the Vat Masterclass Series 2013
  • Find out how the new Tax Administration Act (TAA) affects your Vat when you're being audited, Learn how the lifting of the Transfer Duty restriction on notional input tax claims will put more cash back in your business and Our expert gives you the lowdown on the new changes SARS has introduced on the Vat Return.... ››› more
  • [04 April 2013]




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