Entries by ADMIN

Your Tax Deadlines for April 2023

1 April – Start of the 2022/23 Financial Year 6 April – Monthly Pay-As-You-Earn (PAYE) submissions and payments 26 April – Excise Duty payments 28 April – Value-Added Tax (VAT) electronic submissions and payments & CIT Provisional payments where applicable.

5 Business Plan Mistakes to Avoid

Writing a business plan can feel like a daunting process, and making mistakes is part of the package, even if you follow the online guides and templates.  To make this process simpler, we have made a short list of common errors that somehow keep creeping into these vital documents. Making it too long As Amazon […]

Why (and How) to Submit Skills Development Reports by 30 April

Since 1999, the Skills Development Levy (SDL) has served to fund skills development in the country. It encourages a planned and structured approach to skills development so employers, employees and the economy can benefit from a better skilled and more productive workforce. All South African companies with a payroll exceeding R500,000 per year (that’s just […]

UDZ Tax Incentive Extended: Could Your Business Benefit?

The urban development zone (UDZ) tax incentive, provided for in section 13quat of the Income Tax Act (the Act), was introduced 20 years ago in 2003, as an accelerated depreciation allowance for property investments in certain central business districts. It aims to promote investment by the private sector in the construction or improvement of commercial and residential buildings, including […]

Your Tax Deadlines for March 2023

7 March – Monthly Pay-As-You-Earn (PAYE) submissions and payments  30 March – Excise Duty payments  31 March – End of the 2022/23 Financial Year  31 March – Value-Added Tax (VAT) electronic submissions and payments & CIT Provisional payments where applicable.  

Budget 2023: Your Tax Tables and Tax Calculator

The big Budget Speech 2023 tax news was the introduction of tax incentives for investing in rooftop solar and renewable energy. The Budget also detailed tax relief in the form of adjusted tables for tax and rebates for individual taxpayers, adjusted tables for retirement tax and transfer duty, and the expected increases in ‘sin’ taxes. […]

Budget 2023: How It Affects You and Your Business

Finance Minister Enoch Godongwana’s second Budget contained no major tax proposals, thanks to an improvement in revenue from higher collection in corporate and personal income taxes, and in customs duties. Instead, the focus of Budget 2023 was firmly on the current energy crisis, which has resulted in a State of Disaster being declared. It announced […]

Effective 1 March 2023: New Earnings Threshold and National Minimum Wage

Employers and employees need to keep an eye on the annual increases in both the National Minimum Wage and the Earnings Threshold, summarised below for your convenience. Both are effective from 1 March 2023. The National Minimum Wage increase The National Minimum Wage (NMW) for each “ordinary hour worked” has been increased by 9.6% from […]

Five Essential Bookkeeping Tips for Small Businesses

When running a small business, it often feels like you are doing everything yourself, and some important tasks can slip under the radar. One aspect that should never be forgotten though is bookkeeping. While intimidating, keeping your finances in order need not be as hard as it sounds. Here are our tips for ensuring your […]

How To Prepare a Reliable Disaster Recovery Plan

Given how reliant we all are on our IT infrastructure, it will come as no surprise to learn that one of the worst things that can happen to a business is for a failure to occur in that department. Whether it’s fire, floods, or hacking, being taken offline can spell a serious period of trouble […]