Increasingly, banks and other organisations are requiring businesses to submit up-to-date management accounts when applying for finance. This is because these compact financial reports enable business analysis even when the latest annual financial statements are not yet available. Management accounts also offer owners and managers timely, accurate and actionable financial insights that facilitate performance evaluation, […]
Many founders see skipping their own salary as a noble way to fund growth. In reality, underpaying yourself often backfires. Research shows that 82% of small business failures stem from cash flow problems and unpaid founders can mask true costs, distort margins, and create hidden financial pressure – and that’s just the start of […]
The Tax Ombud has again warned South Africans about the concerning increase in eFiling profile hijackings, which has spurred the Office of the Tax Ombud (OTO) to launch a survey of taxpayers’ experiences and a systemic investigation into SARS. What is eFiling profile hijacking? eFiling profile hijacking involves cybercriminals gaining unauthorised access to taxpayers’ SARS […]
05 September – PAYE submissions and payments 25 September – VAT manual submissions and payments 29 September – Excise duty payments 30 September – VAT electronic submissions and payments, CIT Provisional Tax payments and PIT top-up Provisional Tax payment where applicable.
You can’t grow a business without a clear handle on your numbers. But too many business owners still confuse bookkeeping and accounting. These roles do have some overlap, but they serve different purposes. Assigning tasks to the correct person means better insights, sharper decisions, and a clearer path to growth. In a nutshell A bookkeeper […]
In SARS jargon, a ‘systemic issue’ is the underlying cause of a complaint that affects many taxpayers. These systemic issues may have to do with the way SARS systems function, how SARS drafts and implements policies or procedures, or even how it applies or disregards legislative provisions. Over the years, collaboration between the Office of […]
You didn’t start your business to become a psychologist. But understanding the way emotions creep into your decisions could be the difference between plain sailing and struggling to stay afloat. Entrepreneurs are often painted as rational, profit-driven operators. In reality, money decisions are rarely made in a vacuum. Stress, fear, pride and even guilt, can […]
Having “the last word” is defined as having “the final decision-making power or authority in a matter.” South Africans have the right to have the last word about how their assets are disposed after their passing – but exercising this right requires a well-drawn and up-to-date will … a job that is best left to […]
The third provisional tax payment is voluntary — but ignoring it could cost you in interest and penalties. For individuals and companies with February year-ends, this payment is due by 30 September. For entities with other year-ends, it’s due six months after the tax year-end. This top-up payment is a strategic opportunity to minimise […]
SARS now mandates that ALL Trusts submit IT3(t) third-party returns, these returns are non-negotiable and will be used to cross-reference beneficiary, donor, and Trust tax submissions. Any inconsistencies may trigger penalties, audits, and reassessments. The ITR3(t) for Trusts requires the following information: Full demographic details of the Trust and its beneficiaries Financial statements for the […]
