Anyone who has started a business has had those meetings. The ones where you trade a dozen emails explaining what you do and how you do it, what your rates are and why you are the best, and now your potential client has asked for a meeting. You drive to the other side of […]
With yet another return of loadshedding in August, and major banks upgrading their forecasts to reflect an increased possibility of further economic downturns, recession feels inevitable in South Africa. A recession is simply where an economy stops growing and starts retracting. A generally held definition of recession is when the Gross Domestic Product of a […]
For more than a decade, local businesses have faced the huge challenge of an unreliable power supply from a state-owned monopoly that allowed very little in terms of affordable or practical alternatives. In addition, since then Eskom’s electricity prices continued to skyrocket – increasing by more than 400%. Click here to view | Source: Eskom Distribution Just a […]
5 August – Monthly Pay-As-You-Earn (PAYE) submissions and payments 25 August – Value-Added Tax (VAT) manual submissions and payments 30 August – Excise Duty payments 31 August – Value-Added Tax (VAT) electronic submissions and payments & CIT Provisional payments where applicable.
Being able to track money as it is coming in and going out is essential for small business owners. Not having proper cash flow management and a full understanding of where your money is going makes it hard to analyse where your business can improve and whether it is succeeding. Come tax season compiling your […]
A good business credit score is a critical tool in business success as it helps your business unlock, establish and maintain relationships with lenders, suppliers and vendors. It reveals whether an organisation should lend your business money, give it credit or enter into a business relationship. Building good business credit is, therefore, a vital […]
SARS recently sent out a reminder confirming that in terms of the Income Tax Act, 1962 (ITA), all trusts are taxpayers and that the trustees, who are also the representative taxpayers of the trust, have a responsibility to register the trusts – whether active or dormant – for income tax purposes. The representative taxpayer (trustee/s), […]
Managing cash flow is often one of the biggest challenges business owners face and is also the reason for a concerningly large percentage of business failures. Cash flow can be defined as the total amount of money that comes in and then goes out of a business and – crucially – the timing between cash […]
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.
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, the risk of errors and omissions, and the cost of late submissions, penalties and audits. At a glance Tax Season […]
