May 24, 2018

CRYPTOCURRENCY

Cryptocurrency and blockchain has been the hot topic in the media the past year.  It is a concept that few truly understand, and could change the […]
April 13, 2018

THE VAT INCREASE AND REAL ESTATE SALES

On 21 February 2018, former Finance Minister, Malusi Gigaba announced National Treasury’s decision to increase the VAT rate from 14% to 15%, with effect from 1 […]
April 13, 2018

FRINGE BENEFITS PROVIDED TO EMPLOYEES

The Seventh Schedule to the Income Tax Act[1] lists various benefits that employers may grant to employees which will attract income tax for the employee,[2] and […]
April 13, 2018

WHY IT IS IMPORTANT TO KNOW THE VALUE OF YOUR BUSINESS

A properly considered business valuation can be the first step in many essential business processes and activities. Although there are many examples, these might include procurement […]
April 13, 2018

CHANGES TO INCOME TAX RETURNS FOR COMPANIES

The South African Revenue Service (“SARS”) implemented several changes to the annual income tax returns for companies (the ITR14) on 26 February 2018 as part of […]
March 25, 2018

ADDITIONAL MEDICAL EXPENSES TAX CREDIT

Section 6B of the Income Tax Act[1] provides for an additional medical expenses tax credit (“AMTC”) which is calculated against qualifying “out of pocket” medical expenses. […]
March 25, 2018

CLAIMING VAT INPUT ON “PRE-ENTERPRISE” EXPENDITURE

In terms of section 17 of the Value-Added Tax Act, 89 of 1991, a registered VAT vendor is entitled to claim back any amounts of VAT […]
March 25, 2018

BUDGET 2018: IT’S A NUMBERS GAME

South Africa’s budget paints a very interesting picture when one drills down into the numbers involved. The annual national budget presented in Parliament on 21 February […]
March 25, 2018

ACCOUNTING TIPS FOR A SUCCESSFUL BUSINESS

Running a business has many challenges, from building clientele to employee relations. However, one of the biggest challenges a business may face is keeping abreast of […]
March 19, 2018

REMINDER – VAT INCREASE: Don’t forget to update your accounting systems!

As you are aware, the National Treasury announced an increase in Value Added Tax (VAT) from 14% to 15% effective 1 April 2018. We urge you […]