Which legal entity for a profitable business?

Home Office Expenses

Nov 11, 2021 | Accounting, Advisory, Tax

What is home office expenses? Home office expenses are those expenses that relates to a person using an office to work from at his place of residence. SARS allows some of the expenses relating to your home to be tax deductible on...

CIPC Compliance: Directors

Jan 7, 2021 | Business Consulting

The shareholders of a company appoint directors to manage the company affairs. These directors have a statutory duty towards the company and must always act in the best interest of the company. How many directors must a company have? All Public and Non-Profit...

Cloud Based Accounting: Are you ready?

Oct 9, 2020 | Accounting

Why should I convert to Cloud Based Accounting? Before you can consider the benefits of Cloud Based Accounting you first need to understand what it is and how it differs from historic accounting systems. Historically Up to the early 2000’s it was common practise for...

Implementation of Beneficial Ownership Requirement and Grey Listing Implications

May 29, 2023 | Accounting, Advisory, Business Consulting, Tax, Uncategorized

We would like to inform you about the implementation of the Beneficial Ownership Requirement and the implications of South Africa being placed on the grey list by the global financial crime watchdog, the Financial Action Task Force (FATF). It is crucial to understand...

Unemployment Insurance Fund (UIF) and Our Assistance

May 29, 2023 | Accounting, Advisory, Business Consulting, Uncategorized

We would like to provide you with important information regarding the Unemployment Insurance Fund (UIF) and how we can assist you in ensuring compliance and resolving issues that may arise. Please take a moment to review the following details. 1. What is UIF? The UIF...

Solar Tax Rebate: The Devil is in The Detail

Mar 10, 2023 | Accounting, Advisory, Business Consulting, Tax, Uncategorized

Solar Tax Rebate: The Devil is in The Detail In the recent budget speech, it was announced that private households will receive a tax rebate of 25% of the cost of solar power. However, on closer inspection of the detail, private individuals need to note the following:...

Limitation on Utilising Tax Loss

Jan 31, 2023 | Tax

Together with the reduction in the Income Tax rate (from 28% to 27%), SARS implemented a limitation on the usage of a tax loss brought forward. This will apply to all companies with a year end from 31 March 2023, and therefore most companies will only see the impact...

Benefits of Cloud-Based Accounting Systems

Jun 3, 2021 | Accounting, Business Consulting, Payroll

How is Cloud-Based Accounting Systems relevant to my Business? Times are changing fast and so have the way in which we run our businesses. We are constantly looking for new ways to improve our business to achieve efficiency without sacrificing quality. We look for...

SARS Penalties on outstanding returns

Mar 18, 2021 | Accounting, Business Consulting, Tax, Uncategorized

A few years ago, SARS commenced the loading of monthly penalties on individual taxpayers who had overdue Income tax returns. This was later extended to companies and now also cover outstandingPAYE returns. A new penalty For a number of years, the Income Tax Act made...

Provisional tax due shortly

Aug 4, 2020 | Tax

Individual taxpayers who are registered as provisional taxpayers as well as all companies, close corporations and trusts with a February year end must submit their first provisional tax return for the 2021 tax year by the end of August. They also have the option to...

Which legal entity for a profitable business?

Published by Marna Scheepers

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