Employer Annual Declarations (EMP501): 1 April to 31 May 2024. As an employer, it’s essential to stay informed about your tax obligations. The Employer Annual Declaration period is a crucial time when you need to submit accurate information to the South African Revenue Service (SARS). Let’s dive into the details: [...]
Companies First Amendment Bill, 2023 And Second Amendment Bill, 2023. The Companies First Amendment and Second Amendment Bill were tabled in Parliament on the 28 August 2023, and have been published. [The initial draft of the Companies Amendment Bill was published in 2018, followed by a revised draft Bill in 2021, both of which [...]
National Health Insurance (NHI) The NHI Bill was recently promulgated amid a mixed reaction sentiment, positive and negative. While one can identify strongly with the rationale, affordability is paramount as is the management of such a fund. “National Health Insurance is a way of providing good healthcare for all by sharing the money available for [...]
Business Rescue – Directors Responsibility In the current economic climate, more and more companies are becoming financially distressed. Directors are duty bound to constantly monitor the company’s financial position, to determine whether voluntary business rescue proceedings need to be initiated. Failure to implement business rescue proceedings could result in the director being charged with reckless [...]
Carbon Tax – How does it affect your business? With the imminent introduction of Carbon Tax, it is important to know how this will affect your business. While your business may not be directly affected by the tax, your suppliers may well have to pass on additional costs incurred as a result of it. So, let’s explore who [...]
Corporate Governance and The Prescribed Officer Corporate governance is under scrutiny like never before in South Africa. While most people believe that it is only appointed directors of a company who can be held personally liable, the Companies Act provides for a wider definition and includes Prescribed Officers.A Prescribed Officer is a title created by [...]
Medium Term Budget Policy Statement (MTBPS) Nhlanhla Nene is the first victim of the “State Capture Enquiry”. Just twoweeks before presenting a critical MTBPS, he resigned after a massive public backlash regarding his initial non-disclosure regarding his meetings with the infamous Gupta family. His replacement, Tito Mboweni, has been well received by the markets and [...]
WHAT IS ESTATE PLANNING? “In the world, nothing can be said to be certain, except death and taxes” Benjamin Franklin So, with absolute certainty we know we can plan for this event! In today’s world planning for death is only part of this complex and dynamic process. Below is a brief outline of the estate [...]
Financial Intelligence Centre Amendment Bill Signed into Law Following a long delay, President Zuma finally signed the Financial Intelligence Centre Amendment Bill into law at the end of April 2017. The bill is required for South Africa to meet its international commitments with the Financial Action Task Force (FATF).The amendments to the Financial Intelligence Centre [...]
2017 Budget Speech – Highlights Finance Minister, Pravin Gordhan, began his 2017 budget speech by emphasizing the harsh reality facing South Africans: unemployment is extremely high, economic growth is slow, and many businesses and families are under considerable stress. In an effort to address this challenging situation, the tax proposals this year are expected to [...]
