An effective employee benefit strategy is more of an advantage to an employer than may at first meet the eye. Although providing benefits naturally comes at a price, it also comes with substantial benefits, plus you stand to regain a portion of your investment from SARS in tax deductions. Moreover, providing benefits that employees can’t […]
After cutting interest rates by 275 basis points to record lows in response to the economic crisis brought about by the COVID-19 lockdowns, the South African Reserve Bank (SARB) recently announced the first interest rate hike in three years. The vote was split 3-2, indicating conflicting sentiments within SARB as it looks to address inflation […]
Thank you for your support in 2021. Have a Wonderful Festive Season, and a Happy and Prosperous 2022. Enjoy the Break!
2 December – Extended filing season deadline for non-provisional individual taxpayers (originally 23 November 2021) 7 December – Monthly Pay-As-You-Earn (PAYE) submissions and payments 24 December – Value-Added Tax (VAT) manual submissions and payments 30 December – Excise Duty payments 31 December – Corporate Income Tax (CIT) Provisional Tax payments where applicable 31 December […]
The gradual transition from the conventional office environment to a remote, tech-savvy workforce has been topical in various industries for a while. However the pandemic has accelerated acceptance of the reality of remote working. The recent Digital Corporation in South Africa 2021 study, conducted by IT research organisation World Wide Worx with the support of […]
Christmas is a time for giving, and in our local business environment, as well as in many other markets around the world, it may even be unofficially expected of companies to give generously to their employees, to their clients and suppliers, and to the communities in which they operate. Many companies give generously in these […]
South African businesses, already facing significant risk of cyberattacks, have been warned to step up their cybersecurity as the festive season is expected to see significantly more and increasingly sophisticated cyberattacks. Below are listed some of the common types of cyberattacks. Common cyberattacks Phishing (random fraudulent emails), spear phishing (emails targeting specific people or […]
A new year beckons, and you may be thinking that it will soon be time to sell your business. Perhaps you are nearing the age of retirement, or want to move on to a new endeavour? Whatever your reason, your business could well be your most valuable personal asset, and something you have invested […]
05 November – Monthly Pay-As-You-Earn (PAYE) submissions and payments 23 November – End of Filing Season 2021 for Individuals (Non-Provisional) 25 November – Value-Added Tax (VAT) manual submissions and payments 29 November – Excise Duty payments 30 November – Corporate Income Tax (CIT) where applicable 30 November – Value-Added Tax (VAT) electronic submissions and payments
Since October 2001 South African tax residents have been liable for capital gains tax (CGT) on the disposal or “deemed disposal” of assets, such as a business or a property. Events that trigger a disposal include a sale, donation, exchange, loss, death and emigration. For individuals, the CGT rate is a stiff 18%. No separate […]
