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travel allowances

Property developers made a big splash about selling cheap properties... here's what they didn't tell you
For most first time homebuyers, the moment of signing the offer to purchase is filled with nervous excitement. For the Jansen's, it was when they were first confronted with an additional R140 000 on their R1 million dream home.... ››› more
[20 June 2013]

Two travel allowance errors your company MUST avoid
There are inherent risks when you offer travel allowances to your employees. If your business doesn't award tax and record employee travel allowances correctly, SARS will pick up on these errors. Your company will face an audit, not to mention penalties you'll be forced to pay for noncompliance. Read on to find out what you can do avoid these employee travel allowance errors.... ››› more
[31 May 2013]

Don't make the same business travel claim mistakes as the IRS in the US
The Internal Revenue Service or IRS in the US is the country's regulatory tax body, much like SARS is in South Africa. But even tax bodies make mistakes... News reports show that some IRS employees have been misusing their travel credit cards. Here's how to make sure you stay out of SARS' auditing radar by keeping your company's business travel claims up to scratch.... ››› more
[30 May 2013]

Two travel allowance errors you must avoid for your company to escape penalties and audits
If your business doesn't award, tax and record employee travel allowances correctly, SARS will pick up on these errors. Your company will face an audit, not to mention penalties you'll be forced to pay for noncompliance. Read on to find out solutions you can use to avoid these employee travel allowance errors.... ››› more
[29 April 2013]

Choose your marriage contract wisely, there are tax consequences of getting it wrong
'The tax consequences of marriage are not likely to be on your mind when you stand before the altar with your life partner, but there are definite tax consequences to marriage,' warns The Practical Tax Loose Leaf Service. There are two danger areas you can't afford to overlook. Read on to find out what the taxman does when you're married out of community of property with or without accrual and when you're married in community of property.... ››› more
[09 April 2013]

Warning: Make sure your employment contracts is watertight when it comes to company expenses for commission earners
'Sometimes I think that tax law is a bit schizophrenic. First you find a section that allows you to deduct something, then you find another that says you can't! The rules around employment seem a little bit like that,' warns Steven Jones on MoneyWeb's tax site. And it's especially true when it comes to taxing expenses for employees who earn commission. Luckily, you can safeguard your company from an unnecessary tax audit if your employee's employment contract clearly states the expense is a precondition of employment. Here's how...... ››› more
[18 March 2013]

Do you know how to account for these common company perks?
Company cars, travel allowances, medical aid and pension might be great perks for your employees - but they're an accounting headache for you. After all, the consequences of accounting for company perks incorrectly go much deeper than a SARS tax penalty. Here's what you need to know about company perks to avoid making costly accounting errors.... ››› more
[12 February 2013]

Seven vital clauses every employment contract must contain...
If you have employees, you have to have a written employment contract to protect yourself from unnecessary visits to the CCMA. Here are seven clauses every employment contract must contain...... ››› more
[24 January 2013]

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