“Few of us ever test our powers of deduction, except when filling out an income tax form.” (Laurence J. Peter) In this article, we look at the who, how and when of this 2022 Tax Season; highlight some issues that require special attention; and suggest practical next steps to help you avoid the last-minute rush,…
“Simple can be harder than complex: You have to work hard to get your thinking clean to make it simple. But it’s worth it in the end because once you get there, you can move mountains.” (Steve Jobs, co-founder of Apple) It is easy in business culture to start believing that more is more. Entrepreneurs…
“Tax debtors are expected to take responsibility for their tax obligations and to organise their affairs in such a way as to be able to discharge those responsibilities when required. They should give at least the same priority to tax obligations as their other responsibilities.” (SARS’ Short Guide to the Tax Administration Act) To avoid…
“The really expert riders of horses let the horse know immediately who is in control, but then guide the horse with loose reins and seldom use the spurs.” (Sandra Day O’Connor, former Supreme Court Justice) For years you have been working in the industry of your choice and now you have decided to start your…
7 July – Monthly Pay-As-You-Earn (PAYE) submissions and payments 25 July – Value-Added Tax (VAT) manual submissions and payments 28 July – Excise Duty payments 29 July – Value-Added Tax (VAT) electronic submissions and payments & CIT Provisional payments where applicable. Disclaimer: The information provided herein should not be used or relied on as professional advice.…
7 June – Monthly Pay-As-You-Earn (PAYE) submissions and payments 24 June – Value-Added Tax (VAT) manual submissions and payments 29 June – Excise Duty payments 30 June – Value-Added Tax (VAT) electronic submissions and payments & CIT Provisional payments where applicable 30 June – End of the 1st Financial Quarter Disclaimer: The information provided herein should not…
“The golden rule of all estate planning is: don’t wait.” (Missionwealth.com) Just 20% of South Africans have a valid will (“Last Will and Testament”), resulting in countless heart-breaking stories of grief-stricken surviving spouses and children with no income or access to funds as bank accounts have been closed, floundering in confusion with no idea where…
“When written in Chinese, the word ‘crisis’ is composed of two characters. One represents danger and the other represents opportunity.” (John F. Kennedy, 35th U.S. President) When people hear the term “crisis management” they immediately picture a PR team in front of the media defending a company from an unpredictable disaster, but crises that close down…
“What gets measured, gets managed.” (Peter Drucker) Financial reports, such as a balance sheet, income statement, cash flow statement, debtors reports and actual spend vs budget reports, provide an understanding of where your business stands financially at a certain point in time. They detail the business’s financial performance over a period and also raise red…
“Taxpayer: One who doesn’t have to pass a civil service exam to work for the government” (Anonymous) “Tax Freedom Day” is the first day of the year on which we South Africans (we’re talking about the “average” taxpayer here) have finally earned enough to pay off SARS and to start working for ourselves. This year…