Is there anything worse than the moment when you open that letter from SARS, 'kindly advising you' they're arriving next week to audit your business?
Don't panic! There are set rules and procedures that the SARS auditors MUST follow, to protect your rights even while it audits your business. Here are nine things you should know and put into practice now.
Statistics show: Your... ››› more
February is almost finished but you still have a chance to improve the way you run your company and do business. This includes your accounting management.
After all, if you can't manage your finances properly, your company won't grow.
Now's the time for you to make the changes you need to get your company to grow and succeed.
To help you do this, I'm going to show you three easy steps ... ››› more
When new employees join your company, they need health and safety induction training. That means you have to choose someone to be their training facilitator who has all the right health and safety knowledge and training experience.
This can be a tough decision. After all, choosing the wrong person will affect the quality of your employees' training and your company's safety record.
Don't m... ››› more
Insubordination is when your employee doesn't obey a direct and specific order from you - his manager.
This form of behaviour has no place in your workplace, it's destructive and it undermines your authority.
So how do you deal with it? Well, the best way to handle insubordination is to address it in its very early stages. To do that, you need to be able to identify what types of behaviour... ››› more
Towards the end of 2015, the Department of Labour hired 500 extra labour inspectors in Johannesburg alone.
And what's on their agenda? To catch as many companies as possible who aren't complying with the over 70 changes to the labour laws that happened in the last few years!
The scary part? A labour inspector can go into any workplace at any reasonable time to check and enforce compliance ... ››› more
Annual safety audits are an imperative part of health and safety. They ensure your company complies with your health and safety rules and laws like the OHS Act.
The problem with safety audits is they tend to take weeks to prepare and complete. There's all the planning, question setting, document collecting and target choosing to do first. But what if I told you there's a way you can turn this ... ››› more
While the new objection rules generally follow the same format as the previous rules, the appeal and the alternative dispute resolution process, and the further processes to approach the tax board or tax court, the new rules do contain 1 or 2 innovative changes.
Let's look at some of these changes, and how they might affect you, if you want to object to an assessment, or decision the SARS Comm... ››› more
When you apply for VAT registration, SARS will do an interview to find out key information about your business.
It's important that you're aware of what SARS wants to know during this interview so you can get your VAT affairs in order and give them what they want.
Because here's the thing, if during the interview SARS finds any signs of non-compliance, they'll reject your application.
... ››› more
Don't change your game plan when you're in the losing corner against SARS, it won't get you out of trouble.
Here's a case that has six important lessons all tax payers can learn from - and even though the case is from 2007/8, the lessons are still relevant today! The facts of the case
The taxpayer treated the sale of sand extract from his farm as capital in nature rather than revenue. When... ››› more
One of the most common fringe benefits encountered on modern payrolls is the right to use a company car
Where an employee has the right to use a company car, you must calculate the VAT on the fringe benefit as follows:
Where the vehicle is a motor car (not a bus or kombi) and the input tax was specifically denied, the calculation is as follows:
0.3% x the determined va... ››› more
Workplace incidents usually consist of no real harm or loss, but a workplace accident does!
An accident in the workplace in the workplace can happen at any moment. They can create a lot of stress for you because thousands, even millions in Compensation claims may need to be paid out.
Also, investigations by the Department of Labour around the accident may even lead to your company shutting ... ››› more
How often have you had this question: 'My brother-in-law passed away and I need to take family responsibility leave go to the funeral'.
And what is your immediate reaction? Yes? No?
If your answer is 'no', then you're 100% correct!
Let's see why...
Case Law: Public Servants Association on behalf of Jonase and Department of Justice
& Constitutional Development (2011) 32 ILJ 1271 (BC... ››› more
Where do your employees' rights to privacy end and your right to protect your business begin? What if you need to protect your company from employee theft? Or have to protect it from slander through employee emails? These are just two of the circumstances that could force you to invade your employees' privacy. But before you do, make sure you know what your company's obligations are when it comes ... ››› more
You may think your only option is to close down the company that isn't making a profit. But don't be too hasty with your decision.
There's an escape hatch you can use.
Let's see if you qualify for it and how you can use it to pay less tax and save this company from closing down. ************* Advertisement *************
Meet the ultimate tax-bill slasher...
Over 31 different tax brea... ››› more
As you know, travel is an integral part of business. But the costs associated with travel are high. There's the cost of flights, car rental, accommodation and meals. This is sometimes just the start of the costs.
But what if I told you there was a way for you to get some of these costs back?
Keep reading to find out what the five common business travel expenses are and their VAT consequences... ››› more
Do you have an old office printer lying around, gathering dust? I'm talking about the one that hardly switches on anymore.
If you're thinking about throwing it out... DON'T.
You can claim a scrapping allowance instead. This can save you thousands every year.
Let's have a look at what the scrapping allowance is and how to qualify for it.
************ Just for you **... ››› more
You probably buy your clients gifts during the year. But just before you submit your VAT return and miss out on a potential VAT saving, you need to read this first!
You're probably thinking... SARS sees gifts as entertainment and disallows input tax claims from the onset, right? Well... not quite...
During the FSPBusiness VAT Masterclass, I found a secret loophole that's totally legal. And... ››› more
Current information shows that in South Africa, employees are the main beneficiaries of legislation that provides for health and safety standards in the workplace.
The law that governs general workplace safety is the Occupational Health and Safety Act of 1993 (OHSA) and, in the Mining Industry, safety is governed by the Mine Health and Safety Act.
It has been showed that over R240 billion, th... ››› more
One issue which many employers struggle with, is that if an employee commits an alcohol-related offence in the workplace, how do you label it to begin with?
In other words, should it be seen as a form of incapacity or of misconduct? After all, simply
determining this can alter the entire way you handle the incident.
In the following case, some light will be shed on the issue. Take a look..... ››› more
You can't just decide to conduct breathalyser tests as you see fit. You have to do it according to what's prescribed in the Occupational Health and Safety Act (OHSA). Read on to find out what the Act says about this.
Don't know what the law says about breathalyser tests at work? If so, here's an answer for you.
Here's what the OHSA says about breathalyser tests at work
Firstly, you must... ››› more
Last year, the DoL took 1 400 of South Africa's medium and large companies to Labour Court for not complying with the Employment Equity (EE) Act.
The first issue of non-compliance was that these companies didn't submit their EE reports. And as we all know, this is one of the legal requirements you need to meet as a designated employer. So the DoL decided to make an example of them and set a pre... ››› more
Do you have 50 or more employees in your company? Or is your company's annual turnover higher than Schedule 4 of the Employment Equity Act?
If so, then you're labelled a 'designated employer'. And with that label comes a lot of legal responsibilities, the most important of which is to comply fully with the Employment Equity Act.
If you don't comply with it completely, then you'll face heavy ... ››› more
'Equal pay for work of equal value'. What exactly does it mean?
With Employment Equity, there's a phrase 'equal work for pay of equal value'.
Now this may seem straightforward, but the truth is that many can't help but ask, 'What exactly constitutes work of equal value?'
After all, how can you determine equal value if you don't even know what to look out for?
Let's a look...
Wha... ››› more
A tax debt compromise is a request you make to SARS asking it to 'park' your outstanding tax debt if you're financially distressed.
By parking the debt, SARS agrees not to demand payment. It treats your debt as no longer due and payable. Whether it parks all or only part of your tax debt depends on your financial circumstances and how much it can realistically recover.
If you're thinking '... ››› more
Vat refunds are great as they boost your company's cash flow. In this tough economy every little bit of cash is welcome.
But, getting a Vat refund isn't that simple.
You have to play by the rules if you want to get your Vat refund on time and without any problems.
Here are the four rules we believe every Vat vendor needs to know about Vat refunds.
*********** Product endorsement ***... ››› more
BEE transactions carry tax consequences. But many business owners simply don't know about them and end up paying thousands in tax and penalties. Don't get caught in this trap!
I'm going to show you how to structure your BEE deals to save on your tax bill rather than pay out more. ************
Changes to the law you WON'T hear about in the news...
If you're responsible for payroll, fringe be... ››› more
If you under-declare your income, SARS will hit you with a laundry list of penalties, fines and interest. AB Pty Ltd got first-hand experience of this when SARS raised R69 million in penalties and interest!
But, there was something SARS didn't do which made part of the penalty fall away.
Let's look at this case and how AB Pty Ltd got away with some of the penalties SARS imposed. ************... ››› more
John just told you to 'get knotted'.
Mary ignored your direct instruction and Peter just cost you one of your biggest clients for not doing his job properly.
These are all cases if insubordinations and it's always such a tricky subject because it's so difficult to prove. And that's why it's so difficult to dismiss for it! Keep reading to find out when an employee's being insubordinate and... ››› more
As a trustee, you have a legal duty to complete and send an Income Tax Return for your Trust to SARS every year. Failure to do so is an offence and could result in harsh penalties.
The good news is, SARS is going to make your Income Tax Return for Trust (ITR12T) completion seamless.
It understands that the new ITR12T it introduced last month may be a bit tricky and it wants to help you submi... ››› more
A DoL inspector can enter your construction site at any time - without any previous notice - to ensure your site complies with the Occupational Health and Safety Act.
Here are 12 documents to include in your health and safety file, for when he comes knocking on your door... 1. Health and safety specifications
Even though these specifications can often be located in the bill of quantities o... ››› more
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