Labour and HR Club
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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...]

Tax Deduction

  • How to save money even when you pay salary increases, bonus payouts, donations to charities and gifts for clients
  • The end of the year is here and I'm sure you'd like nothing more than to get a little something back for yourself instead of just spending a fortune on salary increases, bonus payouts, donations to charities, gifts for clients, etc. Well, you can.... ››› more
  • [05 December 2013]
  • 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]
  • Got any suggestions for the improvement of small business tax aids?
  • On 17 July 2013, our Minister of Finance publicised the names of the members of the Davis Tax Committee (DTC) - a committee that considers the objectives of the National Development Plan and then considers how we can make changes to tax laws and concessions, to facilitate the achievement of those objectives. Here's what it means for your small business...... ››› more
  • [11 November 2013]
  • What the Vat auditor checks when he arrives at your office for an audit...
  • One of our Vat subscribers wrote in to the Vat Help Desk, wanting to find out what checks the Vat auditors carry out when they audit a business. Here's what the experts at the Practical Vat Loose Leaf say about Vat audits, and what you should expect.... ››› more
  • [07 November 2013]
  • Are you charging Vat correctly on your rental income?
  • For business owners who own their business premises and rent out a portion of the property to other businesses, there's always confusion about whether or not to charge Vat on the rental income. If you're one such business owner, take note of these Vat rules.... ››› more
  • [06 November 2013]
  • Insurance and tax: What if you didn't take out insurance to cover your company's losses?
  • Ever wondered what will happen if your company doesn't have an insurance policy to cover losses you suffer due to theft or damage? Can you claim a tax deduction for these losses? Read on to find out what your options are...... ››› more
  • [04 November 2013]
  • One tool to submit your tax return by 22 November 2013 if you're eFiling
  • If you're anything like me, you leave things till the last minute. Normally I'd do the same with submitting my tax return. But it's just as well I chose to start the process early this year. It wasn't as straightforward as loading my return, filling in my details and hitting submit. I had all sorts of additional expenses I needed to claim. And I had no idea where to start. It's just a pity I didn't use this one tool...... ››› more
  • [24 October 2013]
  • Do you know what to include when you calculate leave pay?
  • Leave is one of those subjects that causes the most employment headaches Sure you know the basics but do you really know the nitty gritty. If you don't you could end up making expensive mistakes. The good news these mistakes are pretty easy to avoid. Read on to discover what include in your leave pay calculation so you can calculate, account for and manage leave correctly and avoid SARS penalties.... ››› more
  • [14 October 2013]
  • Can I deduct the cost of a new laptop for my business?
  • There's nothing better than getting money back from SARS. And let's face it, we all want money back. The challenge is keeping track all the little unknown expenses you can legally deduct to get SARS to put more money into your bank account. For example, did you know you can claim the cost of new laptops for your business?... ››› more
  • [08 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]
  • Six tips to remember when dealing with direct and indirect exports
  • Exports can be a tricky area to negotiate and get right. As with all areas of our tax law, the onus is on you as the vendor-taxpayer to ensure you do everything by the book. Use these tips to avoid errors when dealing with direct and indirect exports.... ››› more
  • [18 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]
  • Selling business assets? Here's how to deal with the Vat
  • It's important that you handle Vat correctly when you sell you sell business assets. Getting this wrong could result in harsh penalties. Don't take that risk. Here's how you must manage Vat when you sell your business assets.... ››› more
  • [02 September 2013]
  • What is keyman insurance and why do you need it?
  • Most businesses, especially small, family-owned and operated or fledgling businesses, depend heavily on the skills of one or more key people. If you're one of these businesses, here's some constructive advice on how to safeguard your business: Take out keyman insurance! It'll protect you from the loss or disability of one of your keymen in a practical and tax-effective way...... ››› more
  • [26 August 2013]
  • What happens when you've paid Vat and a debt goes bad?
  • Most businesses are registered for Vat on the invoice basis. This means you have to pay your Vat over to SARS as per the sales invoices you've issued during a certain tax period. And you need to do this irrespective of whether or not those invoices have been paid. So what happens when you've paid over Vat on sales to your debtors, but some of those debts become irrecoverable? Do you lose the Vat? Read on to find out...... ››› more
  • [23 August 2013]
  • Avoid the clutches of SARS' auditors: Use these three questions to screen your credit and debit notes
  • Watch out! It's easy to make a mistake with Vat when dealing with discounts and credits received from suppliers. If you do, you could underpay your Vat and suffer huge penalties and interest as a result. Don't take that risk. Use these three questions to screen your debit and credit notes before submitting them to SARS and avoid penalties.... ››› more
  • [19 August 2013]




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