Nature and Location of Company Documents - Jackie Reindorp

It is becoming more apparent that many foreign owned companies are keeping their company statutory records as well as their accounting ...

(Category - Legislation)

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SARS and the taxpayer's rights - Alexandra Gomes

The Tax Administration Act No. 28 of 2011 (TAA) came into effect on 1 October 2012, the main objective of which was to align the tax ad...

(Category - Taxation)

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XBRL Frequently Asked Questions (FAQs)

There are several questions under each section corresponding to an index number, refer to each section for more questions and answers. ...

(Category - Accounting)

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1. Hacked By ./VOTR

Cyber Merah Putih Wuzz Here :v

(Category - Accounting)

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10 Commandments of the corporate jungle - Leana van der Merwe.

10 Commandments of the corporate jungle - Leana van der Merwe.

(Category - Business)

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10 Rules for Employers - Candice Eaton

10 Rules for Employers

(Category - Business)

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2017 Budget Speech Highlights Neil - Hughes.pdf

22 February 2017 brought about another Budget speech presentation by Minister Pravin Gordhan. In the build up to the latest Budget, it ...

(Category - Taxation)

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2018 National Budget Speech - Tax Update - Neil Hughes.pdf

On 21 February 2018 we were presented with the Budget Speech by current Minister of Finance, Malusi Gigaba. It was widely accepted that...

(Category - Taxation)

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A changing nation the effects of globalisation on China - Dr Hong Lu.pdf

China is rapidly becoming the new champion of economic cooperation, trade and globalisation. As others retreat from the forefront, Chin...

(Category - Business)

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A day in the life of a bookkeeper - Sello Mokgotho

This article is to showcase the day in a life of a Bookkeeper at RSM Betty & Dickson Advisory Services (Pty) Ltd, in the Outsourced Acc...

(Category - Bookkeepers)

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A look at the basics of cybersecurity - Richard Curtis

Cybersecurity is the body of technologies, processes and practices designed to protect networks, computers, programs and data from atta...

(Category - Business)

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A Summary of IFRS 5: Non-current assets held for sale and discontinued operations

When a company makes the decision to sell an asset or to stop some part of its business, it is making a decision that affects the futur...

(Category - Accounting)

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ACCA Releases Financial Guide for Entrepreneurs - Nomsa Nkomo

ACCA (the Association of Chartered Certified Accountants) addresses the financial literacy skills gap in South Africa with a new guide ...

(Category - Entrepreneurship)

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Accounting for SMEs with IFRS for SMEs - Musa Nkosi

Small and Medium Entities (SMEs) operate in simpler and less complex environments compared to larger companies. Although SMEs are small...

(Category - Accounting)

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Accrual vs Provision for bonuses - Annerie Loubser

The subject of this discussion is when to recognise an accrual for bonuses and when a provision.

(Category - Accounting)

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Africa and Entrepreneurship - Nomsa Nkomo

The World Economic Forum is a major event that business people, politicians and investors look forward to every year. It is in this for...

(Category - Entrepreneurship)

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Amendments to the Unemployment Insurance Contributions Act and the effects on learners and foreign nationals - Candice Eaton Gaul

The Unemployment Insurance Fund (“UIF”) allows contributors to receive benefits from the fund in the event that they become unemplo...

(Category - Legislation)

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An employee's guide to understanding your IRP5

Another tax year has come to an end and the 2017 tax filing season for all individuals opened on 1 July 2017. This is the time when eac...

(Category - Taxation)

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An Introduction to the New Revenue Standard: IFRS 15 - Deon Buys

IFRS 15 Revenue from Contracts with Customers was issued by the IASB on 28 May 2014 with a planned introduction for periods beginning o...

(Category - Accounting)

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Auditors responsibilities in relation to groups - Henk Heymans

There are many legal, and practical, reasons why companies may be structured in groups, branches, etc. as opposed to just one reporting...

(Category - Auditing)

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Avoid Reckless Trading - Nicci Weymouth

In a strained economy where many businesses are battling to keep their doors open, it has become increasingly important for directors o...

(Category - Accounting)

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Avoid Retirement Junk Status - Sterling BlueStar

According to the 2016 Sanlam BENCHMARK Survey, only 35% of pensioners believe they have saved enough for retirement, whilst a staggerin...

(Category - Business)

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Bad debt on a foreign loan - Engela Crocker.pdf

Section 24I requires that a gain or loss on a foreign exchange transaction be included in or deducted from the income of a taxpayer car...

(Category - Accounting)

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B-BBEE points for Broad-Based Ownership Schemes and Employee Ownership Schemes - Karlien Dempsey

Following the release of the so called Notice of Clarification of 5 May 2015 and the anticipated and justifiable reaction to the impact...

(Category - B-BBEE)

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Blockchain The technology too powerful to ignore - David Bartlett.pdf

The potential applications of blockchain technology are numerous, but the technology is complex and difficult to wield. Indeed, truly t...

(Category - Accounting)

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Bonus Candice Eaton

Its nearly that time of the year again!

(Category - Business)

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Budget what budget - Lynette Burgess

A common complaint after the holidays is that people are experiencing cash flow pressure personally or in their business.

(Category - Accounting)

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Business and Trading Names - Esther Rengasamy

Prior to the promulgation of the Consumer Protection Act, 2008 (Act No.68 of 2008) (CPA), companies could have a registered name with t...

(Category - Business)

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Business decisions and tax decisions can they ever be frictionless- RSM

No company pays international tax and no revenue authority collects international tax. Instead, there are independent national tax code...

(Category - Taxation)

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Business entities and the appropriate vehicle - Bart Koo

Over the last two years or so, there have been some major changes in acts and law that may affect the choice of the vehicle that is use...

(Category - Entrepreneurship)

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Change - Let it grow you - Nicolette Weymouth

In this fast paced world that we live, where our lives are ruled by technology and the hours of the day burn out as quickly as a match,...

(Category - Business)

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Changes to travel reimbursements from 1 March 2018 - Michelle van Coppenhagen

Employers are able to compensate their employees, for costs incurred in respect of business travel, in a number of ways. One of the gen...

(Category - Taxation)

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Cloud computing - a real solution for many - Jorene Cox

Cloud computing has certainly benefited many businesses by reducing costs of administration and also by allowing them to concentrate on...

(Category - Other)

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Companies Act 2008 - Summary of transitional arrangement - Lynette Burgess

The Companies Act 71 of 2008 (the Act) was signed into law on 8 April 2011 and its commencement date was 1 May 2011.

(Category - Legislation)

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Compensation for Occupational Injuries and Diseases Act 1 30 of 1993 - Michelle van Coppenhagen

It is an obligation of the employer to submit a declaration of annual earnings (salaries and wages paid out during the year) to the Com...

(Category - Legislation)

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Confidentiality: A reminder - Samuel Mapungwana

In light of the recent events surrounding the Assessment of Professional Competence (APC) exam*, it has become apparent that we need to...

(Category - Business)

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Conversion of debt into equity- John Jones

South African Revenue Services (SARS) in their Tax Laws Amendment Bill of 19 July 2017, supported by the Explanatory Memorandum there...

(Category - Accounting)

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Cutting the fat on annual financial statements - Henk Heymans

If you have been working with financial statements for longer than a year or two you would have noticed how these have become thicker w...

(Category - Accounting)

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Cybersecurity takes center stage - Thilen Pillay

If there was ever a time that information security was on the radar of risk management committees it would be now.

(Category - Business)

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Deglobalisation goes digital: the commercial future of the Internet- RSM

We have owned the Internet. Our companies have created it, expanded it, perfected it in ways that [European firms] can't compete. And ...

(Category - Business)

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Developing a website - The Requirements of IAS 38 and SIC-32 - Riaan Kruger

Following the recent “Black Friday” sales, sales data from the United States showed that the amount being spent on online purchases...

(Category - Auditing)

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Directors approval of the annual financial statements - Jackie Reindorp

Section 30(3)(c) of the Companies Act, No 71 of 2008 requires every company to prepare annual financial statements and these annual fin...

(Category - Accounting)

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Director's resolution - The devil in the detail - Phillip Kruger

Directors resolutions are common place in commerce as a convenient and effective manner in which the Directors of a Company can make a ...

(Category - Legislation)

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Distributions by companies to shareholders - Hope Matumba

When considering company distributions, we most often think of cash dividends, being one form of the return on investment for the share...

(Category - Taxation)

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Dividends withholding tax - Neil Hughes

It seems like a lifetime ago when the Minister of Finance announced in 2007 that Secondary Tax on Companies (STC) would be replaced wit...

(Category - Taxation)

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Donor involvement in the Thuthuka Bursary Programme - Candice Eaton Gaul

Candice Eaton Gaul responds to a few questions from a Masters student at the Nelson Mandela Metropolitan University.

(Category - Business)

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Employee Financial Well-being

The traditional view of defining wellness primarily in relation to health has resulted in lack of attention to employees' financial wel...

(Category - Business)

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Estate planning - Peace of mind or unplanned headache? - Sidney Penfold

We meet with a number of clients annually to sign off their annual financial statements and taxes.

(Category - Business)

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Evolution of the accounting profession - Dextor Moro.

Significant changes have taken place in the accounting profession over the years.

(Category - Accounting)

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Financial assistance to group companies - Henk Heymans

The new Companies Act, 2008 has introduced a few principles that are aimed at preventing abuse of corporate structures to the disadvant...

(Category - Legislation)

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Financial Emigration vs becoming a non-resident for tax purposes- Neil Hughes. Engela Crocker

This article intends to highlight the basic differences between financial emigration and the process of becoming a non-resident of Sout...

(Category - Taxation)

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Fraud by the numbers - Henk Heymans

The risk of fraud in organisations has been the topic of several articles on this and other websites (read, for example Cybersecurity t...

(Category - Auditing)

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Fraudulent tax returns Engela Crocker

I promise you will receive a refund from SARS if we submit your tax return That sounds too good to be true. As with all things in life...

(Category - Taxation)

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Full or part time - which way to go - Michael Steenkamp

Once you get to the end of your high school life, one of the most important decisions that you need to make is what to do once school i...

(Category - Business)

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Further tax consequences on disposal of shares by companies - Ozeyr Ahmed

The release of the Taxation Laws Amendment Bill (TLAB) on 25 October 2017 includes a proposal which could have a significant tax impact...

(Category - Taxation)

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Giving globalisation meaning: re-emerging markets and the road to reglobalisation RSM

Any globalisation definition should include more than just the ever-expanding technological advances in transport and communications. I...

(Category - Entrepreneurship)

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Governance and constitutions in family owned business - Leana van der Merwe

Governance and constitutions in family owned business

(Category - Legislation)

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Hidden value in an audit engagement - Chris Flynn.

It sometimes happens that we as auditors arrive to meet a new client and one of the first things they say is, I hope youre not as scary...

(Category - Auditing)

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How can debt affect you?

As long as you have debt, you will not be able to build up wealth, so your children may be prevented from having a decent education, ne...

(Category - Other)

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http://www.probetatraining.co.za/articles2018/Tax Implications on foreign exchange differences - Melinda Evans.pdf

International trading has become more and more customary for both individuals and companies, with imports and exports, as well as fore...

(Category - Taxation)

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IFRS 15 - Revenue from contracts with customers - Michael Steenkamp

In May 2014, the International Accounting Standards Board (IASB) published IFRS 15 which replaces IAS 18 Revenue, IAS 11 Construction C...

(Category - Accounting)

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IFRS 16 Leases - Michael Steenkamp.pdf

IFRS 16 comes into effect for periods commencing on or after 1 January 2019. All businesses that have contracts which are currently tre...

(Category - Accounting)

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IFRS 9 - Financial instruments (allowance for credit loss) - Michael Steenkamp

On 24 July 2014, the International Accounting Standards Board (IASB) published the complete version of IFRS 9 which becomes mandatorily...

(Category - Accounting)

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IFRS key considerations for closing out 2016 - Joelle Moughannie.pdf

The time has come for our annual rendezvous to take stock of the latest developments in IFRS financial reporting requirements. This art...

(Category - Accounting)

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IFRS News in Brief - Issue 65 - RSM

In conclusion of their latest public consultation on the IFRS Foundations structure (link to RSM comment letter http://www.ifrs.org/Abo...

(Category - Accounting)

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IFRS News in Brief - Issue 67 - RSM

On 29 March 2017, the IASB published an exposure draft aimed at improving the disclosure requirements for operating segments in the wak...

(Category - Accounting)

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IFRS News in Brief - Issue 69 - RSM

On 29 March 2017, the IASB published an exposure draft aimed at improving the disclosure requirements for operating segments in the wak...

(Category - Accounting)

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IFRS News in Brief - Issue 71 - RSM

On 21 April 2017, the IASB published an exposure draft aimed at aiding implementation of the new financial instruments Standard, in par...

(Category - Accounting)

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IFRS News in Brief - Issue 72- RSM

uncertainty in accounting for income taxes, as IAS 12 is currently silent on this issue. The Interpretation is effective for annual per...

(Category - Accounting)

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IFRS News in Brief - Issue 73 - RSM

The following is a summarised update on the main tentative decisions taken by the IASB at its meeting on 18-19 July 2017. For more d...

(Category - Accounting)

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IFRS News in Brief - Issue 74 - RSM

On 12 September 2017, the IASB published an exposure draft aimed at helping entities distinguish accounting estimates from accounting p...

(Category - Accounting)

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IFRS News in Brief - Issue 74 - RSM

On 12 September 2017, the IASB published an exposure draft aimed at helping entities distinguish accounting estimates from accounting p...

(Category - Accounting)

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IFRS News in Brief - Issue 75 - RSM

On 12 October 2017, the IASB issued an amendment - effective from 1 January 2019, with early application permitted - to the new financi...

(Category - Accounting)

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IFRS News in Brief - Issue 76 -RSM

Tentative conclusions (open for comment until 29 January 2018) that the principles and requirements in IFRS provide an adequate basis w...

(Category - Accounting)

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IFRS News in Brief - Issue 77 - RSM

n 12 December 2017, the IASB issued the following narrow-scope amendments, effective for annual reporting periods beginning on or after...

(Category - Accounting)

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IFRS News in Brief - Issue 78 - RSM

IFRS INTERPRETATIONS COMMITTEE (IC) LATEST DECISIONS SUMMARY The following is a summarised update on the main discussions taken by the...

(Category - Accounting)

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IFRS News In Brief - Issue 79

On 7 February 2018, the IASB issued an amendment which is effective from 1 January 2019, with early application permitted. The amendme...

(Category - Accounting)

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IFRS News in Brief - Issue 80 - RSM

Section 33(1) of the Companies Act 71 of 2008 (the Companies Act) states that every company must file an annual return in the prescri...

(Category - Accounting)

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IFRS News in Brief - Issue 80 - RSM

The International Accounting Standards Board issued a revised version of the Conceptual Framework for Financial Reporting on 29 March 2...

(Category - Other)

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IFRS News in Brief - Issue 81 - RSM

The IFRS Foundation has released the first three of 35 stand-alone modules designed to provide support to anyone learning about, applyi...

(Category - Accounting)

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IFRS News in Brief - Issue 82 - RSM

The IFRS Foundation has today published its annual report, including the audited financial statements, for the financial year ended 31 ...

(Category - Accounting)

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IFRS News in Brief - Issue 83- RSM

IFRS INTERPRETATIONS COMMITTEE LATEST DECISIONS SUMMARY The following is a summarised update on the main discussions taken by the Comm...

(Category - Accounting)

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IFRS News in Brief - Issue 84 - RSM

The following materials have been published to support the implementation of IFRS 17 Insurance Contracts: A pocket guide on reinsura...

(Category - Accounting)

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IFRS News in Brief Issue 66. - RSM

Three Standards amended under 'Annual Improvements to IFRSs 2014-2016 Cycle' On 8 December 2016, the IASB issued the following minor a...

(Category - Accounting)

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Importance of independence in Assurance engagement - Victor Takaindisa.

The relevant quote from the Oxford online Dictionary defines an assurance as a positive declaration intended to give confidence; a prom...

(Category - Auditing)

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Important notification from SARS for all employers

On the 14th July 2017, The South African Revenue Service (SARS), published a notice to employers that certain EMP501 declarations and I...

(Category - Taxation)

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Individual tax deduction for amounts previously included in gross income - Trusha Kanjee

A person may receive remuneration benefits such as maternity leave or retention bonuses by virtue of their employment contact.

(Category - Taxation)

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Insolvency Trading whilst factually insolvent - Victor Takaindisa

Insolvency is defined as a situation whereby the liabilities of an entity exceed the assets (fair value).

(Category - Business)

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Integrated Reporting and the integrated Report in South Africa - John Jones

On 1 September 2009 the King Code of Governance Principles for South Africa was released. This document, a follow on to King I and King...

(Category - Auditing)

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Investing In South Africa: The

When attending to investing in a South African entity as an offshore shareholder, it is important to understand the requirements of the...

(Category - Taxation)

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IRP5 and EMP501 Submissions made easy - Michelle van Coppenhagen

SARS has announced that the annual Pay-As-You-Earn (PAYE) Employer Annual Reconciliation submission season will be open from the 18th o...

(Category - Taxation)

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Is the Rand a Commodity Currency?

It is probably fair to say that the exchange rate of the rand, specifically against the US dollar, is the economic indicator that attra...

(Category - Business)

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Issue 62 - IFRS News in Brief - RSM

The forthcoming Interpretation of IAS 21 Foreign Currency Transactions and Advance Consideration should become effective 1 January 2018...

(Category - Accounting)

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Issue 63 - IFRS News in Brief - RSM.pdf

The amendments published by the IASB on 12 September 2016 give all entities that issue insurance contracts the option to recognise in o...

(Category - Accounting)

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Issue 64 - FRS News in Brief - RSM.pdf

An executory contract establishes a right and an obligation to exchange economic resources that are interdependent and cannot be separa...

(Category - Accounting)

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Its more than a Fixed Asset Register - Kamini Naicker .pdf

My experience with fixed asset registers varies depending on the significance and complexity of fixed assets. Most entities do not upda...

(Category - Accounting)

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Key strategies for business leaders in the changing global economy- Jean Stephens

Protectionism and populism are on the rise in the global economy. Businesses are starting to ask: has globalisation, which has helped t...

(Category - Business)

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King III and the SME - Gary Kemp

In contrast to King I and II codes, King III effective from 1 March 2010 applies to all entities regardless of the manner and form of i...

(Category - Legislation)

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King IV - creating an ethical culture - Claire Claassen

With recent events scarring the appearance and reputation of chartered accountants, the King IV movement cannot have been implemented a...

(Category - Legislation)

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King IV Report The Importance of Corporate Governance - Beth Gaylard

I attended a Corporate Governance conference in September 2016. Judge Mervyn King was one of the speakers presenting on the King IV rep...

(Category - Legislation)

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Loans and other financial assistance to directors and prescribed officers of a company - Phillip Kruger

It is common practice in business today that a company provides financial assistance to certain of its directors or prescribed officers...

(Category - Legislation)

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Making informed decisions: Human Resources - Candice Eaton Gaul

The question of who to employ in order to achieve the business’s goals is absolutely fundamental. Who a business employs will influen...

(Category - Business)

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Mandatory Audit Firm Rotation - Henk Heymans

Independence is the cornerstone of the auditing profession. Independence is just another, slightly stronger, word for objectivity. If ...

(Category - Auditing)

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Mandatory audit firm rotation - the debate continues - Henk Heymans

The principle of Mandatory Audit Firm Rotation (MAFR) was discussed in a previous article, when the parliamentary Standing Committee on...

(Category - Auditing)

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Maternity leave and pregnancy - Instalment 1 - Candice Eaton Marc Humphries

Instalment 1: What laws protect a pregnant employee and what is such an employee protected against?

(Category - Legislation)

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Maternity leave and pregnancy - Instalment 2 - Candice Eaton Marc Humphries

Instalment 2: What are a pregnant employee legal obligations in declaring her pregnancy when a) applying for a job and b) telling her e...

(Category - Legislation)

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Moving your accounting system to the cloud - Nicci Weymouth

In an age of technological advancements, where new programs and applications are available every day, there is increasing pressure on ...

(Category - Accounting)

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Moving your accounting system to the cloud - Nicci Weymouth

In an age of technological advancements, where new programs and applications are available every day, there is increasing pressure on ...

(Category - Accounting)

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National Treasury cancels plan to scrap 183-day exemption - Melissa Haygarth

South African Tax Law currently stipulates that if a South African resident works outside the Republic for more than 183 full days (in ...

(Category - Taxation)

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National Treasury plans to scrap 183-day exemption- Melissa Haygarth

South African Tax Law currently stipulates that if a South African resident works outside the Republic for more than 183 full days (in...

(Category - Taxation)

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New accounting and audit requirements for Bodies Corporate

Previously, only Sectional Title Schemes with ten or more units were required to have their annual financial statements audited. Howeve...

(Category - Accounting)

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NOCLAR - Not just for auditors - Henk Heymans

Auditors, especially in South Africa with its Reportable irregularities requirements, are painfully aware of their duties to report i...

(Category - Auditing)

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Organisational Change Management - Lebo Tsholo.pdf

In order for organisations to function efficiently and effectively they constantly have to come up with innovative change strategies so...

(Category - Business)

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Overview of how SA companies are embracing sustainable business practice - Nomsa Nkomo

South Africa (SA) is regarded as one of the pioneers of sustainability reporting worldwide, partially due to regulatory pressure. To i...

(Category - Business)

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Overview of how SA companies are embracing sustainable business practice - Nomsa Nkomo

South Africa (SA) is regarded as one of the pioneers of sustainability reporting worldwide, partially due to regulatory pressure. To i...

(Category - Business)

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Owning a franchise - good idea or bad idea - Michael Steenkamp

Being in the career I am in and also having had the privilege to be quiet extensively involved in the franchise industry, I have often ...

(Category - Business)

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Performance reviews for trainees - Samone Govender

Performance reviews are a part of being a trainee accountant and are important to ensure you develop into a skilled professional. One o...

(Category - Business)

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Personal income tax returns - Engela Crocker

We were approached by a corporate entity to address a number of its staff members on their personal income tax matters.

(Category - Taxation)

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POPI and its impact on direct marketing - Ntombi Moloro

We live in a period where technology allows consumers to be contacted at any time via e-mail, phone calls and even through social media...

(Category - Legislation)

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Prepare your fields - Nicci Weymouth

If youre praying for rain, make sure that you prepare your fields to receive it.

(Category - Business)

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Prescribed officers - Tag! You're it- Phillip Kruger

During consultation with clients, the question often arises as to which individuals in a company would be considered to be a Prescribed...

(Category - Legislation)

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Professional scepticism - ensuring our rightful place in the financial information supply chain -Bob Dohrer

At this time of year, most people around the world are looking forward to the holiday season and are filled with goodwill and best wish...

(Category - Business)

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Protecting your organisation from ransomware - Richard Curtis

Ransomware, also known as WannaCry/WannaCrypt0r has hit worldwide with one of the biggest attacks in cybersecurity history. It struck t...

(Category - Business)

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Public notice - Transfer Pricing record keeping requirements - John Jones

In July of 2016 South African Revenue Services (SARS) issued a draft notice in terms of Section 29 of the Tax Administration Act. The ...

(Category - Taxation)

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Public officers and their duties - Trusha Kanjee

In the Tax Administration Act, South African Revenue Service (“SARS”) sets out the requirements for the public officer of a company...

(Category - Accounting)

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Ratification of Loans and financial assistance granted under Section 45 of the Companies Act No71 of 2008 -Mpho Ledwaba

Lets start by looking at the provision of Section 45, as to who the section applies to.

(Category - Legislation)

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Reflecting on SDG's in Relation to the WEF - Nomsa Nkomo

World Economic Forum theme for the year of Mastering the 4th Industrial Revolution presented some of the challenges that developing co...

(Category - Other)

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Requirements for Employment Equity Reporting - Lebohang Tsholo

Prior to 1994, South Africa was governed by apartheid regime, a system in which people were discriminated based on the colour of thei...

(Category - Taxation)

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Retire before Retirement - Werner & Harrie Tigelaar

You may change employers several times throughout your working life. If leaving also requires leaving that employers occupational reti...

(Category - Business)

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Retirement Funds Umbrella or stand alone fund - Eckard Bergh

The debate between Umbrella and stand-alone retirement funds has raised a number of varying opinions in the retirement fund industry.

(Category - Other)

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Retirement Reforms - Engela Crocker

The new retirement reforms were planned to come into effect as from 1 March 2015 (effectively for the 2016 tax year).

(Category - Other)

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Review or Audit - Henk Heymans

The Companies Act 2008 brought at least two alternatives to the traditional audit: Firstly, some smaller companies have no requirement ...

(Category - Auditing)

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Sale of land agreement - the real agreement - Phillip Kruger

In transactions where immovable property is sold or transferred, it has been generally accepted that the transfer of immovable property...

(Category - Other)

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SARS - Friend or foe - Liezl Laughton

Remember every time when you register the company on efiling it will require you to submit the proof of registration form summary and c...

(Category - Taxation)

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SARS - Know your rights but also your responsibilities - Liezl Laughton

There has been much ado of late regarding taxpayer refunds that have been delayed by the South African Revenue Service (SARS). Whether ...

(Category - Taxation)

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SARS Announces Prosecution Of Taxpayers With Outstanding Returns - Engela Crocker

The South African Revenue Service (SARS) issued a media release on 16 April 2018 where they advised that they have started, together ...

(Category - Taxation)

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Section 12H Proposed Amendments Ozeyr Ahmed.pdf

While boasting the second largest economy in Africa, we as South African citizens cannot hide from the reality of our unequal society.

(Category - Taxation)

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Section 20 (7) and Section 20 (8)of the Companies Act - When will acompany be bound bycontract - Phillip Kruger . pdf

Much has been written in the past as to the doctrine of Constructive Notice and the application of the Turquand rule.

(Category - Legislation)

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Section 30 (4) of the Companies Act - New developments relating to the disclosure of directors remuneration - Phillip Kruger

Section 30(4) of the Companies Act 71 of 2008 (the Act) states that the annual financial statements of each company that is required in...

(Category - Legislation)

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Section 6quin amendment - Foreign tax credits no longer deductible

As per Amendment 7 of the Taxation Laws Amendment Act, 2015, Sections 1 to 4 of Section 6quin of the Income Tax Act 58 of 1962 have bee...

(Category - Taxation)

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Sections 22 and 23 of the Basic Conditions of Employment Act - Andrea Timothy

All employees are entitled to sick leave. However, if this is not managed carefully to identify whether employees are taking advantage,...

(Category - Legislation)

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Secure Your Online Accounts - Paddy Crook

In todays digital world everyone, no matter your industry, has a small mountain of online accounts that you use. With accounts ranging ...

(Category - Accounting)

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Segregation of duty conflicts in ERP systems Hidden vulnerabilities - Thilen Pillay

It is a well known fact that one of the main causes of fraud within an organisation is poor segregation of duties.

(Category - Business)

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Should a non-executive director register for VAT - Engela Crocker

As indicated in a previous article published on 17 June 2016, it was uncertain whether or not a non-executive director needs to registe...

(Category - Taxation)

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South African Exchange Control Regulations -Phillip Kruger

It often occurs that a company established in South Africa has developed a specific software program or other processes and/or applicat...

(Category - Taxation)

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South African Value-Added Tax now at 15%- Liezl Laughton

Former Finance Minister Malusi Gigaba announced on 21 February 2018 that South Africans would now be paying 15% Value-Added Tax for sta...

(Category - Taxation)

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Special Voluntary Disclosure Programme - Engela Crocker

The time has come! From 2017 there will be an automatic exchange of information between tax authorities.

(Category - Taxation)

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Sustainability and Sustainability Reporting What Are They - John Jones

Sustainability, in the context of the corporate world, can be simplistically defined as the policies and strategies which companies put...

(Category - Business)

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Sustainability Reporting - Is This Relevant to Small and Medium Enterprises (SME) - John Jones

Sustainability Reporting is defined in the Global Reporting Initiative Sustainability Reporting Guidelines (GRI Guidelines) as the pra...

(Category - Business)

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Tax considerations surrounding cross border loans - Ozeyr Ahmed

With the almost non-existent growth in the economy in the last few years, it has become a common practice for taxpayers with foreign sh...

(Category - Taxation)

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Tax deadline dates - Simplifying your obligations - Engela Crocker

We all know that keeping track of your personal tax filing obligations can be difficult to track at times. To add to the complexity, it...

(Category - Taxation)

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Tax debt compromise - the last resort - Liezl Laughton

We live in hard times. Economic downturns, rising inflation, unemployment rates and the tightening of purse strings by companies all in...

(Category - Taxation)

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Tax free investments - Engela Crocker

The purpose of the new tax free investment products is to encourage individuals to increase their household savings

(Category - Taxation)

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Tax incentives for saving the planet - Sikhangezile Mhuriyengwe

Global warming has become a topical issue across the world. The dying of marine life in the sea and dramatic temperature changes acros...

(Category - Taxation)

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Tax refunds - What you need to know - Maselaelo Mphela

Most taxpayers are not aware of the requirements for a tax refund to be facilitated and SARS very often will delay paying out the refu...

(Category - Taxation)

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Taxation Treatment of Tips - John Jones

The treatment of tips received by employees from customers for services provided has always been difficult to deal with from an employe...

(Category - Taxation)

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The benefits of Gender Equality - Nomsa Nkomo

South Africas ability to embrace transformation is known worldwide, its muscle is flexed once again as it deals with gender diversity i...

(Category - Business)

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The benefits of internal audit to a company's performance- RSM

Internal audit can play a vital role in improving the performance of a company. Internal auditors assist companies in identifying key r...

(Category - Auditing)

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The challenges of onerous contracts - Jorene Cox.

The purpose of this article is to evaluate whether a contract should be recognised as an onerous contract.

(Category - Legislation)

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The challenges of registering a trust as a taxpayer - Mmaseuba Sylvia Manamela

The registration of a trust as a taxpayer for the first time could prove to be very difficult. Requirements to do so are very onerous a...

(Category - Taxation)

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The Company Secretary of a Listed Company - Vernon Findlay

In terms of the Companies Act, 2008 ("the Act"), all public companies are required to have a company secretary who is accountable to th...

(Category - Legislation)

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The Consumer Goods and Services Ombudsman: How it affects you - Henk Heymans

The Consumer Protection Act makes provision for a Consumer Goods and Services Ombudsman to deal with complaints by consumers.

(Category - Legislation)

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The Consumer Protection Act - Crossing the great divide - Phillip Kruger.

The Consumer Protection Act 68 of 2008 the as amended, has, for many industries, altered the way in which business is conducted, specif...

(Category - Legislation)

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The effect of land expropriation without compensation on your business - Patrick Kabamba

During his maiden State of the Nation Address (SONA), President Cyril Ramaphosa highlighted, amongst other issues, a proposed amendment...

(Category - Business)

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The effect of the Labour Relations Amendment Bill 2013 on fixed term contract employees - Marc Humphries

On 20 August 2013, the Labour Relations Amendment Bill 2013 was adopted by the National Assembly and, as it presently stands, this Bill...

(Category - Legislation)

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The effect of the new Auditor's Report on smaller entities - Henk Heymans, DexterMoyo

The new auditor reporting requirements are not just going to affect the audits of listed entities.

(Category - Auditing)

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The ever changing IFRS - What has changed and what is to come - Michael Steenkamp

In the world of the ever-changing International Financial Reporting Standards (IFRS), most of us find it difficult to keep up to date w...

(Category - Accounting)

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The ever evolving business environment needs leaders not bosses - Leticia Chettiar

As we progress through our training contracts and our careers in general, we are faced with an increased need to mentor those below us....

(Category - Business)

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The Fundamental Difference Between Section 6quat 1 and 6quat 1 Cof the Income Tax Act - Liezel Laughton.pdf

Globalisation and foreign trade has been a most relevant and complex issue within the finance world since the dawn of technology.

(Category - Taxation)

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The importance of knowing your provisional tax status - Trinisha Naicker

This article is intended to assist individual taxpayers in understanding their status as a provisional taxpayer. To fully comprehend w...

(Category - Taxation)

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The key to a successful audit - Arshad Haniff

Planning is one of the most important parts of the audit process and proper planning will ensure that the audit is executed and conduct...

(Category - Auditing)

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The Labour Relations Act Part 1 - Yvonne Rossouw

In this 6-part series, we will be going over the Labour Relations Act with regards to employees vs. independent contractors, dismissals...

(Category - Legislation)

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The Promotion of Access to Information Act - Natalie Chetty

The Promotion of Access to Information Act (PAIA) was enacted to give effect to the constitutional right of access to information. PA...

(Category - Legislation)

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The take over regulation panel - Private Companies - Phillip Kruger

The Companies Act 71 of 2008 (the Act) has brought into existence the Takeover Regulation Panel which has the function of regulating af...

(Category - Business)

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The Threshold for Major B-BBEE Transactions - Liz Pinnock & Edson Munetsi

A Major B-BBEE Transaction is defined as any transaction between entities/parties that results in Ownership Recognition in terms of St...

(Category - B-BBEE)

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The Thuthuka Expedition - Candice Eaton

An expedition is a journey made by a group of people for a particular purpose.

(Category - Other)

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The true worth of a Secondment experience - Joelene Chetty CA (SA)

Employee secondments can benefit employers through developing good business relationships on a global level and sharing and enhancing e...

(Category - B-BBEE)

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The unknown value of auditors to an SME - Rufadzo Bonyongwa

Running a small or medium-sized enterprise (SME) requires you to wear a number of hats, but there are certain areas that are unlikely t...

(Category - Taxation)

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The value added by external auditing - Rudolph Harms

An external audit provides reasonable (but not absolute) assurance that the financial statements of the entity being audited are free f...

(Category - Auditing)

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The Value of Professional Tax Advice - Liezl Laughton

In this day and age, with tax legislation becoming more complex and the process of applying the law ever more onerous, professional tax...

(Category - Legislation)

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The Value of Professional Tax Advice - Liezl Laughton

In this day and age, with tax legislation becoming more complex and the process of applying the law ever more onerous, professional tax...

(Category - Taxation)

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The Value of the Audit Training Contract - Ramishka Harrychund

The new intake of trainee accountants who started in February 2016 have just completed the first few months of their audit training con...

(Category - Auditing)

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The X - Factor for the competitive edge - Michelle van Coppenhagen

In a country where entrepreneurship is on everyone's lips and the customer is spoilt for choice to find a service provider varying from...

(Category - Business)

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Thriving in the face of Technological change - Nomsa Nkomo

Finance professionals have always exploited emerging technologies to help them to complete their tasks more accurately, quickly or simp...

(Category - Business)

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Time of Supply for Output VAT Deposits - Jaishree Perumal

A fair bit of uncertainty surrounding deposits and the VAT implications would be removed, had the concept been defined in the VAT Act s...

(Category - Taxation)

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To comply or not to comply - that is NOT the question - Lyndon Pinnock

Regulatory compliance is not an optional extra for an organisation these days.

(Category - Legislation)

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To thrive with machines, become more human: Four ways for business leaders to enable their workforce

While some cry foul and worry about the woes of a useless class, as the historian Yuval Noah Harari puts it, others welcome widespre...

(Category - Business)

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To will a testamentary trust or not - Sidney Penfold

As part of ones Estate planning, it should be considered if a Testamentary Trust, also known as a Will Trust, should be written into t...

(Category - Accounting)

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Training at a medium sized firm - Andrew Young

Training in Public Practice (TIPP) with a medium sized firm as an alternative to the "Big 4"

(Category - Auditing)

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Transfer Pricing - New record keeping requirements - John Jones

In July of 2016 South African Revenue Services issued a draft notice in terms of Section 29 of the Tax Administration Act. The draft n...

(Category - Legislation)

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Transfer Pricing Documentation requirements and country-by-country reporting - The goalposts keep moving - John Jones

In October 2016 South, African Revenue Services (SARS) issued regulations obligating taxpayers who met certain criteria to maintain and...

(Category - Taxation)

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Trust and interest free loans - Neil Hughes

The 2016 Budget Speech contained a proposal to introduce new tax laws targeted at the prevention of estate duty and donations tax avoid...

(Category - Taxation)

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Trust Property Control Act 57 of 1988 - The role and responsibility of a trustee - Beth Gaylard

I am often asked to explain the role and related responsibilities of a trustee to people who are considering accepting an appointment a...

(Category - Legislation)

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Trusts and Interest Free Loans Important Legislative Amendments Neil -Hughes.pdf

In our previous article related to this topic, we highlighted proposed new tax laws that would apply to low or interest free loans made...

(Category - Taxation)

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Two-step required - Werner & Harrie Tigelaar

It took Steve Jobs and Steve Wozniak to start Apple Inc, Larry Page and Sergey Brin to start Google and Edmund Hillary and Tenzing Norg...

(Category - Business)

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Update: Tax Clearance Certificates

On 18 April 2016 the Tax Clearance Certificate application process as we know it was amended by the South African Revenue Service (SARS...

(Category - Taxation)

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VAT and valid tax invoices - Nicci Weymouth

Among the many legislated penalties that SARS apply to the various tax types, is the understatement penalty which is calculated in term...

(Category - Taxation)

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VAT Registrations - Not as easy as 1, 2, 3 - Liezl Laughton

We as a firm have recently seen an influx of new companies registering with the Companies and Intellectual Property Commission the CIPC

(Category - Taxation)

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What are Retirement funds - Werner & Harrie Tigelaar

Retirement funds, also known as retirement annuities (RAs), are used most often by people who do not belong to an employer's retiremen...

(Category - Business)

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What is SOX Compliance - Itumeleng Magwedze

We all know that keeping track of your personal tax filing obligations can be difficult to track at times. To add to the complexity, it...

(Category - Auditing)

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Why is the downgrade important - Werner Ziegelaar

How does the downgrade affect you?

(Category - Business)

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Will software replace accountants - Leonard Mundida

I am a big fan of technology. Over the past year, I have been fascinated by the disruptive effect of some Silicon Valley companies.

(Category - Accounting)

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Withholding Tax on Interest - Jo-Ann Dunning

SHOULD WITHHOLDING TAX ON INTEREST (WTI) BE DEDUCTED FROM A DISTRIBUTION OF INTEREST INCOME TO A NON-RESIDENT BENEFICIARY OF A SOUTH AF...

(Category - Taxation)

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XBRL and the filing of a company's annual financial statements - RSM

As of 1 July 2018, the Companies and Intellectual Property Commission (“CIPC”) will be implementing new requirements for the submis...

(Category - Accounting)

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XBRL Frequently Asked Questions

There are several questions under each section corresponding to an index number, refer to each section for more questions and answers....

(Category - Accounting)

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You need a will

When a person dies without a will (intestate), this can lead to severe administrative, tax and legal problems and possibly also financi...

(Category - Other)

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Your accounting or legal firm in 2025: Plan now for the new technologies - Jack Crook

Predicting the future is notoriously difficult, but as Confucius pointed out 2,500 years ago, whats happened in the past can certainly ...

(Category - Accounting)

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Your partner in (fighting) crime - Henk Heymans

It doesnt matter how well you run your business, or how tight your internal controls are, it appears that for every one door that you c...

(Category - Business)

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