Leadership, Ethics and Governance: The Benefits for Your Business
The European (and South African) authorities (refer to governance codes below) opted for a principles-based approach. However, governance cannot be truly effective without the integrity of purpose and actions which drive the ‘tone from the top’ leading to a strong moral compass founded on ethically-based values. The governance imperative Corporate Governance has been a topic […]
Raising Small Business Finance in 2021: 5 Common Mistakes with a High Impact
“Designing a presentation without an audience in mind is like writing a love letter and addressing it ‘to whom it may concern” – Ken Haemer In these challenging times, raising finance could very well be a matter of business survival, so knowing how to pitch to potential investors is a critical skill you should not […]
Selected for SARS Verification or Audit? Here’s What to Expect… and What to Do
“Is there a phrase in the English language more fraught with menace than a tax audit?” (Erica Jong, American novelist) A number of recent tax developments strongly indicate that taxpayers will face even more intense scrutiny from SARS in this new tax year. Most recently, an additional R3 billion was allocated to SARS in the […]
Budget 2021: What It Means to You
“Hope is being able to see that there is light despite all of the darkness.” (Archbishop Emeritus Desmond Tutu) It was with a sense of trepidation that South Africans awaited the 2021 Budget Speech by Finance Minister Tito Mboweni. Still confronted with all the challenges that existed before COVID-19 – massive debt, lacklustre growth, unemployment, […]
Budget 2021: Your Tax Tables and Tax Calculator
How much will you be paying in income tax, petrol and sin taxes? Use Fin 24’s four-step Budget Calculator here to find out. Have a look at the tax tables below for the new Individual and Special Trust income tax brackets, and for a convenient reminder of the various other taxes that remain unchanged – […]
3 Survival Tips for Your Small Business In 2021: Little Things with A High Impact
“If we believe that tomorrow will be better, we can bear a hardship today” (Thích Nhất Hạnh) According to a press release issued this year by the World Bank, the pandemic has taken “a heavy toll of deaths and illness, plunged millions into poverty, and may depress economic activity and incomes for a prolonged period”. […]
The Department of Small Business Development’s Lifelines to Suffocating SMMEs
“It’s been said that government doesn’t create jobs, business does. For the most part, this is true. But government creates the environment in which businesses can excel and expand” (American politician and lawyer, Christine Gregoire) There are several resources that the government, under the guidance of the Department of Small Business Development (DSBD), has made […]
New National Minimum Wage and Earnings Thresholds From 1 March 2021
(N.B. The increases highlighted below are extracted from the Employment and Labour Minister’s announcement of 9 February 2021, and emphasis has been supplied where helpful in enabling quick identification of your employment sector. Comment is in square brackets) “The National Minimum Wage (NMW) for each ordinary hour worked has been increased from R20,76 to R21,69 […]
Provisional Income Tax Due 26 February: Do’s and Don’ts for Companies
“The only thing that hurts more than paying an income tax is not having [an income on which] to pay an income tax” (Thomas Dewar) Provisional tax is not a separate tax but rather a method of payment used to collect in advance some of a taxpayer’s income tax payable for the year. SARS calls […]
How to Find and Secure Tenders for Your Small Business – 5 Expert Tips
“There are no secrets to success. It is the result of preparation, hard work and learning from failure” (Colin Powell) The obvious starting points to securing tenders would be the likes of B-BBEE certification and company registration, but from an operational perspective – there are things suppliers can do to find relevant tenders, and to […]