Directors: Be Careful, You Will Be Held More Accountable In 2020
The past few years have seen scandals emerging in both the private and public sectors. Steinhoff, State Capture, Eskom, the Guptas and Bosasa, to name a few, have revealed how endemic corruption has become in South Africa. The National Prosecuting Authority (NPA) is now beginning to charge those who have been involved in these scandals. […]
Lying About Qualifications – Prison Time for Employees on the Horizon
An issue that has been around for a while has been employees misrepresenting their qualifications to their employer. This has adverse consequences for the employer as the employee often proves incapable of doing the required job – this leads to wasted time in disciplinary hearings, dismissal and then a new recruiting cycle begins. That’s in […]
Budget 2020: Tips for Tito – Make Your Voice Count!
On 26 February 2020 the Minister of Finance, Tito Mboweni, will be making his annual budget speech. Traditionally, the Minister asks the public what they would like to see in the budget and a “Budget Tips” portal on the National Treasury website is open. Citizens are encouraged to submit their tips to the Minister either […]
Your Tax Deadlines for February 2020
7 February – Monthly PAYE submissions and payments 25 February – VAT manual submissions and payments 27 February – Excise Duty payments 28 February – VAT electronic submissions and payments 28 February – CIT Provisional Tax Payments where applicable 28 February – PIT Provisional Tax Payments Disclaimer: The information provided herein should not be used […]
What Will The Next Decade Bring Us?
“If we can win the Rugby World Cup three times, surely it is not asking too much of this country to take the High Road twice when its future is on the line? When push comes to shove, ordinary South Africans can do extraordinary things!” (Clem Sunter) The major global trends that have recently emerged […]
Your Tax Returns Are Due: Make Sure You Fill In Your Return Correctly
“The hardest thing in the world to understand is the income tax” (Albert Einstein) Provisional taxpayers using eFiling need to have completed and submitted their 2019 income tax return on or by 31 January. Make sure you are prepared for this and don’t underestimate the time needed to put the return together. As a starting […]
How To Detect and Dodge Financial Scams
“If it sounds too good to be true, it probably is” (wise old adage) In the USA, $40 billion is lost every year to scammers. When you consider statistics suggesting that 65% of scam victims don’t report their losses (usually they are too embarrassed to admit they have been conned), as much as $120 billion […]
Junk Status Is Not The End; It Can Get A Lot Worse!
It is now widely expected that sometime in the next year or so Moody’s will downgrade South Africa’s debt to junk status. Many see this as the beginning of the process to rehabilitate ourselves. True, initially we will go through a difficult period as ±R150 billion of our debt will be sold as many offshore […]
Your Tax Deadlines for January 2020
January – Monthly PAYE submissions and payments 24 January – VAT manual submissions and payments 30 January – Excise Duty payments 31 January – VAT electronic submissions and payments 31 January – CIT Provisional Tax Payments where applicable 31 January – 2019 Income Tax submission due for provisional taxpayers using eFiling. Disclaimer: The information provided […]
Sometimes the Best Management Is To Take a Back Seat
“When the best leader’s work is done the people say‘We did it ourselves’” (Lao Tzu) Management is probably more of an art than a science – sometimes you need to get actively involved in an issue and other times you need to stand aside and let your staff get on with it. Significantly, if you […]