News

Youth Employment Tax Incentive Extended for Ten Years

Here’s some good news on a win/win/win scenario for businesses (big and small), young work-seekers, and South Africa generally. Everyone will be happy to learn that government’s initiative to encourage increased youth employment, the Employment Tax Incentive or ETI (commonly also referred to as the “Youth Employment Tax Incentive”), has now been extended for ten …

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Your Last Will: The Dire Consequences of Neglecting Formalities

Your “Last Will and Testament” could be the most important document you will ever sign because it’s the only safe way to ensure that your loved ones are properly provided for after you are gone. It’s essential therefore to put in place a will that complies with South African law. We’ll discuss the formalities required …

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How Tax Returns Will Be Easier This Year, and Should You File if You Earn Under R500,000?

The dreaded Tax Season is once more upon us, and you’ve probably picked up news of the increased R500,000 personal income tax threshold to replace the previous one of R350,000. What does that mean for you in practice and what are the limitations and provisos applicable? Be careful here – even if you qualify for …

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Companies: What is an Alternate Director? A Curious Role…

Inevitably, there will be times when one or more of a company’s directors are absent and have to miss board meetings – perhaps through illness, frequent travel, taking of leave etc. But the company’s operations must continue regardless, and to provide for those situations the Companies Act provides for the appointment of an “alternative director” …

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Small Business Owners: Don’t Overlook Your New Compliance Requirements!

Compliance requirements for businesses are becoming more onerous. Small businesses in particular increasingly have to perform a balancing act between optimising their limited resources on the one hand, and weighing up the consequences of non-compliance on the other. Now we are faced with new accounting reporting standards – standards you should both know about and …

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SARS – Important Update on VAT for E-Services from Foreign Suppliers

The VAT base for Electronic Services (E-Services) has been considerably broadened with effect from 1 April 2019, and both suppliers (who may well now need to register for VAT) and their customers ought to know how the new provisions impact on them. Of particular significance are the new definition of electronic services (which, having been …

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