Owing high amounts of debt and not being able to pay it off is one of the most demoralising things a person can experience. You feel you are dangling out of control as you watch your debt grow month on month. You know it’s unsustainable but what do you do? Try the “snowball method” In […]
For many South African companies – already battered by loadshedding, lockdowns and looting – a letter of demand from SARS could be the last straw. For others it may be the entry point into one of the many scams that use letters of demand pretending to originate from SARS. For others still, it may be […]
The Companies Act is underpinned by the assumption of liquidity and solvency – directors and owners are mandated to ensure the business can meet all its short term obligations. The best way to achieve this is via cash flow. As cash flow is fundamental to any business, this should be managed by senior management. The […]
If you are thinking of buying – or have bought – any “crypto asset” such as a crypto currency like Bitcoin, Ethereum, Polkadot, Solana (or any of the many other crypto currencies springing up all over the place), be aware of the tax implications. For a new “from the horse’s mouth” perspective, read SARS’ webpage […]
The Companies Act requires a company to set up a Social and Ethics Committee if it is: A listed company A state owned entity A company with a public interest score of over 500 in two of the last five years. Social and Ethics Committees have a broad mandate to reduce corruption, to ensure that […]
South Africa is already a cash-heavy economy as it is and this reliance on cash is financially and socially costly for the economy. This cost alone is estimated at approximately R88 billion per year. This number is calculated by the Payments Association of South Africa (PASA) and is derived from consolidating the costs to consumers, […]
07 September – Monthly Pay-As-You-Earn (PAYE) submissions and payments 23 September – Value-Added Tax (VAT) manual submissions and payments 29 September – Excise Duty payments 30 September – Corporate Income Tax (CIT) Provisional Tax payments where applicable 30 September – End of the 2nd Financial Quarter 30 September – Personal Income Tax (PIT) top-up Provisional […]
To be a good leader in the small business environment a person needs to possess a variety of skills, understand themselves and recognise areas where there is room for improvement. The leader’s abilities will be the main driver for growing the business. An effective leader is required to not only guide a company from a […]
Initiating, setting up and launching a new, typically, small business is a challenge and can be a lonely journey to growth and, hopefully, success. Could developing a partnership or co-operative with like businesses be a pathway to growth and profitability? How do you describe your business? Truly understanding how to properly describe what your business […]
Microinsurance refers to an area of cover made accessible to low-income individuals and businesses at relatively low cost. Within the South African context, they originally dealt heavily with funeral insurance. Since 1 July 2018, in terms of the Insurance Act of 2017, microinsurers were allowed to offer additional product offerings. The Insurance Act introduced a […]
