When you are looking for tax advice, everyone is quick to offer their opinions, but it’s important not to act on hearsay and instead base your decisions on the advice and guidance of an accredited tax practitioner. Finding an accredited tax expert Accredited tax practitioners have to be members of an organisation recognised by the […]
06
Sep
Sep
You’ve worked hard all your life and when you pass away, your expectation is that your assets transfer to your loved ones. However, if you fail to account for your tax liabilities it can detrimentally affect the liquidity in your estate and as a result – the financial legacy you leave your loved ones. In […]
08
Aug
Aug
Taxpayers now can take a little time to lodge an objection with SARS – three and a half months from the date of assessment or decision. This was recently approved and comes into immediate effect under section 103 of the Tax Administration Act, 2011. This now gives you up to 80 days to lodge your […]
21
Jun
Jun
AI is making headline news right now, and it’s being put to good use by the South African Revenue Service to pinpoint tax dodgers and anomalies in tax submissions. The best thing you can do to stay ahead of SARS’s IT tech systems is to ensure your tax submission adheres to the latest tax laws […]
07
Jun
Jun
Life happens, people move on, we grow older, grandchildren are born. Every life event you experience should necessitate a review of your will, as an outdated estate plan could have unexpected and unpleasant consequences for your family. Here are 7 life events, you can’t ignore: Marriage or divorce Marriage and divorce have a major impact […]
21
Apr
Apr
Financial statements are not only a legal obligation but are essential if you are to assess whether your business is solvent and making a profit. If your business is incorporated as a company or closed corporation, you have a legal obligation, according to the Income Tax Act and Tax Administration Act to prepare accurate annual […]
28
Mar
Mar
If you live in a sectional title scheme, you are a member of a community that has a prescribed management structure that includes a body corporate and trustees – and often a managing agent. While many people are aware of the functions of a body corporate, they are often unaware of the real value a […]
24
Feb
Feb
If you are an owner or a shareholder in a small business about to be sold, you might be surprised to discover you may qualify for a R1.8 million exclusion on capital gains tax, although there are several criteria and considerations in order for your business to qualify for the exclusion. Qualifying criteria The exclusion […]
27
Jan
Jan
Sectional title property schemes have emerged as one of the top trends for 2023 with reports from bond originators showing that they have seen a “significant interest in sectional title properties in the past few years, accounting for between 37% and 44% of stock value” 1 and that almost a third of all property sales […]
13
Dec
Dec
The rise of modern technology and cloud computing has streamlined and simplified the process of financial outsourcing and more companies are realising it makes sense to partner with an experienced team of accountants for their financial needs. Outsourcing accounting is not a new concept and its many advantages are gradually making it the norm, rather […]