South African businesses are always looking for ways to foster growth and innovation while still reducing costs. One way to achieve both is to employ young people. Young workers bring unique advantages that can transform your organisation. What’s more, the government subsidises part of the employment costs for qualifying young employees through SARS’ Employment […]
The line between tax avoidance and tax evasion can sometimes appear blurry, especially in complex transactions or fierce tax planning strategies. The comparison below is a good starting point: What is tax avoidance? Tax avoidance refers to legal arrangements or transactions designed to reduce or eliminate tax liability, without breaking the law. Examples of […]
Employee engagement. It determines so much about the direction of a company, its staff productivity and how likely it is to succeed. According to a Gallup poll just 23% of South African employees are actively engaged, and the support offered by your company during difficult times is a key predictor of whether your employees are […]
07 May – PAYE submissions and payments 23 May – VAT manual submissions and payments 29 May – Excise duty payments 30 May – VAT electronic submissions and payments, & CIT Provisional Tax payments where applicable.
With additional funding from National Treasury, SARS will now be better positioned than ever to collect the estimated R800 billion in unpaid taxes which SARS Commissioner Edward Kieswetter has identified as a better alternative than a VAT hike to balance the South African Budget. Much of the estimated R800 billion in unpaid taxes consists […]
Whether you call it May Day, Labour Day or International Workers’ Day, 1 May is an opportune time for businesses to consider and prioritise their workers. Here’s why happy workers are a business’s greatest asset (and some ways to foster a happier workforce). Business benefits of happy workers Increased productivity. Various studies have shown that happy […]
Humans are creatures of habit. We form opinions and sets of actions that we use as shorthand for all future decisions. We become trapped in loops of our own making and fall prey to common human ways of thinking that may save time, but ultimately hurt us. In business, these sorts of cognitive biases can […]
01 April – Start of the 2025/26 Financial Year 07 April – PAYE submissions and payments 25 April – VAT manual submissions and payments 29 April – Excise duty payments 30 April – VAT electronic submissions and payments, & CIT Provisional Tax payments where applicable.
Budget 2025, if adopted by Parliament, will effectively bring about an increase in personal income tax by not adjusting the tables for tax rates, rebates and credits, while also implementing substantial increases in ‘sin’ taxes and introducing a 0.5% VAT increase on 1 May 2025 and another 0.5% increase effective 1 April 2026. This selection […]
The tabling of Finance Minister Enoch Godongwana’s fourth Budget in February was marked by an unprecedented three-week postponement, following a deadlock around the original Budget proposal to increase VAT by 2%. A revised Budget, finally tabled on 12 March, proposed a 0.5% increase from 1 May 2025, with a second 0.5% VAT increase from […]
