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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...]

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  • Revealed: Two dividend payments exempt from dividends tax
  • Did you know that some dividend payments are automatically exempt from Dividends Tax (DT)? That's right. If your company pays these out, the beneficial owners of your dividend payouts won't have to submit the declaration and undertaking to prove it! Here are the two dividends that are exempt from DT.... ››› more
  • [27 November 2013]
  • Do you make the grade? You'll only be an SBC if you meet the following requirements...
  • If you want your business to have the same tax benefits that Small Business Corporations (SBCs) enjoy, there's a catch. Your company must meet certain requirements to qualify as an SBC...... ››› more
  • [01 November 2013]
  • How to ensure your business qualifies as an SBC
  • Small Business Corporations (SBCs) enjoy lower tax rates than other companies. Do you also want these benefits? If so, read on to find out how to ensure your business qualifies as an SBC so you can DOUBLE your tax benefits.... ››› more
  • [30 October 2013]
  • Want to get your shareholders' permission for fundamental transactions? Here's what to do...
  • One of the provisions of the Companies Act is that you can only enter into certain fundamental transactions if you get your shareholders' approval. But how do you do this? Read on to find out so you don't get caught on the wrong side of the Companies Act.... ››› more
  • [04 October 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]
  • Are you aware of the nine assets that are subject to CGT?
  • 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). You can't escape CGT. In fact, if you try to escape it, SARS could easily find you guilty of tax evasion and smack you with a 200% penalty! But your business can avoid this. Read on to discover the nine assets subject to CGT so you can calculate your due taxes correctly and pay SARS on time.... ››› more
  • [07 August 2013]
  • Is your employee competing with your business? Here's how to deal with him
  • A restraint of trade agreement is usually designed to come into effect only once your employee's employment contract has come to an end. But what if you find out your current employee's competing with your business despite this agreement? Read on to find out how you must handle this in a legal manner.... ››› more
  • [07 August 2013]
  • Revealed: Five transactions that lead to unproductive interest
  • Assuming that interest paid on transactions is tax deductible could be a very costly error. SARS won't let you get away with deducting unproductive interest. Read on to discover the type of transactions that lead to unproductive interest so you won't make a tax deduction on them.... ››› more
  • [25 July 2013]
  • Three little-known company tax breaks that will help you pay less tax
  • With personal tax season now upon us, everyone's got numbers on the brain. And while you may be a pro at maneuvering personal tax loopholes, did you know that there are just as many sneaky tax breaks on the company side of things? It's never too early to start thinking about how you'll beat that SARS demon. You'll be surprised how much you can save just with these three useful tax tips!... ››› more
  • [09 July 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]
  • Employee incentives: Dos and don'ts for employee performance bonuses
  • According to the Practical Guide to Human Resources Management, if you want to retain your employees and have happy and committed workers, you need to recognise their contribution in a significant way, over and above giving them their salary. One way to do this is by incentivising them with performance bonuses. If you go with this route, here are the dos and don'ts to help you incentivise your employees to make them star performers.... ››› more
  • [11 June 2013]
  • Entering into a new transaction? Find out if your company needs to perform a liquidity test first!
  • The Companies Act requires you to perform a liquidity test before you enter into a number of transactions. If you don't, you could be fined anything up to R1 million. Read on to discover the four instances where your company has to perform liquidity test so you can avoid hefty fines.... ››› more
  • [10 June 2013]
  • How to find out if your company qualifies for turnover tax
  • Did you know that before the introduction of turnover tax all businesses, even tiny start-ups, were forced to register for income tax? This was problematic as they battled to meet the tax requirements, complete all the forms, pay over all the taxes and meeting all the deadlines. Luckily, turnover tax has removed this burden with one simple tax. Read on to find out if your business qualifies so you can avoid wasting time and money paying Vat, provisional tax, income tax and Capital Gains Tax when you don't have to.... ››› more
  • [21 May 2013]
  • Business owner: Don't miss out on these two ways to legally pay less tax by investing in trusts!
  • Good news: South African Revenue Service (SARS) has created a new asset class for investors to consider, offering tax breaks to the venture capital trusts or companies that fund small businesses! Here's how your business can take advantage of this by investing a little spare cash in a venture capital trust, and another way to put 'trusts' to your advantage when it comes to legally paying over less tax...... ››› more
  • [20 May 2013]
  • Respect your shareholders' rights or risk being fined up to R1 million
  • In terms of the Companies Act, your company's shareholders have three fundamental rights. If you don't respect them, you risk being fined anything up to R1 million. Read on to discover what these rights are to ensure you always respect them.... ››› more
  • [17 May 2013]




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