Tax Freedom Day: How Many Days Did You Work for The Taxman in 2020?
“I Have Bad News and – No, Actually I Just Have Bad News” (Rick Riordan) In the current year it has taken the average South African 126 days to pay off their taxes and only from the next day did the taxpayer then work for him or herself. This date fell on 6 May this […]
Life Made Easier (and Safer) For Non-eFilers
When SARS have requested documentation from taxpayers who do not use eFiling, the taxpayers have had to take these documents into a SARS Branch. Now SARS have launched on online form that taxpayers can complete and upload with the documentation requested by SARS. The online form can take ten documents which need to be 5MB […]
Your Tax Deadlines for June 2020
5 June – Monthly PAYE submissions and payments 25 June – VAT manual submissions and payments 28 June – Excise Duty payments 30 June – VAT electronic submissions and payments 30 June – CIT Provisional Tax Payments where applicable. Disclaimer: The information provided herein should not be used or relied on as professional advice. No […]
COVID-19 and Directors: Your Duties and Liabilities in the Coronavirus Crisis
There are significant obligations placed on directors by the Companies Act and personal and criminal liabilities if they fail to meet these obligations. As a director you will no doubt be focusing on critical issues like keeping your business afloat and solvent (the CIPC has waived its right to intervene when a company becomes temporarily […]
Tips for Managing your Staff Working from Home
In this brave new world of COVID-19, many people are working from home. Even after there is a cure for the virus, this trend will likely continue. Researchers at Harvard University have come up with some good ways to ensure you get maximum productivity and loyalty from your employees working remotely. Key points Both managers […]
How Different Will Our Landscape Be Post-Coronavirus?
“Prediction is very difficult, especially if it’s about the future” (Niels Bohr) Pandemics kill more people than wars – the introduction of the Black Death plague led to 14th Century Europe losing 40% of its population within two years. What will our world look like when normal life begins to return? Predicting the future can […]
Be Ready for a SARS Lifestyle Audit
We read about Eskom staff having to undergo lifestyle audits so that corruption can be identified and stamped out. SARS have been conducting lifestyle audits since 2007. These audits are conducted when SARS suspects that the taxpayer is not declaring all his or her income and thus is underpaying tax due. SARS have access to […]
Your Tax Deadlines for May 2020
7 May – Monthly PAYE submissions and payments 25 May – VAT manual submissions and payments 28 May – Excise Duty payments 29 May – VAT electronic submissions and payments 29 May – CIT Provisional Tax Payments where applicable 31 May – End of Employer Annual Reconciliation. Disclaimer: The information provided herein should not be […]
COVID-19 Lockdown: Relief Programs for Businesses and SMMEs
The President, telling the nation that “We will prioritise the lives and livelihoods of our people above all else, and will use all of the measures that are within our power to protect them from the economic consequences of this pandemic”, has announced a variety of initiatives to assist SMMEs (Small, Medium and Micro-Enterprises) that […]
Businesses: How to Survive the Coronavirus Panic
“Never let a good crisis go to waste” (Winston Churchill) Globally, the COVID-19 coronavirus has spread panic amongst societies and markets. Businesses are suffering their most challenging times since the 2008 Global Financial Crisis. This is the time for urgently reviewing how events have affected your business and how you can respond to the seeming […]