As we close the chapter on another year and look ahead to new opportunities, I want to take a moment to thank you for trusting us with your accounting, tax, and compliance needs. Your support, collaboration, and commitment to running…
Independent Contractors vs Employees: Why It Matters for Your Payroll and SARS In South Africa, many business owners use both employees and independent contractors to get things done but not everyone realises how important it is to correctly classify them.…
SARS is successful in closing the doors for loopholes in the tax act. Employees only have a few expenses that can be deducted from your taxable income. The fact that the tax brackets for individuals was not increased in the…
Running a business is no small feat. Whether you’re a startup or a seasoned enterprise, the road to success is often paved with unexpected challenges and unforeseen circumstances. From market fluctuations to sudden equipment failures, your business will inevitably face…
An income tax return outlines the income earned by the company, the expenses incurred, and the taxes due. The purpose of filing a return is to calculate the business’s tax liability (or refund) based on the profits it has made…
Understanding Depreciation: What It Means for Your Business Depreciation is a term often thrown around in accounting, but what does it actually mean for your business? Simply put, depreciation is the gradual reduction in value of an asset over time…
A Return of Earnings (RoE) submission is a report required by the Compensation Fund for Employers to document and declare their employees’ earnings, contributions, or other financial information during a specific period. This period is from 1 March to 28 February the…
As the year draws to a close, businesses and individuals alike focus on preparing their Annual Financial Statements (AFS) and filing their tax returns. While this process might seem like a routine task, getting the numbers right is crucial. Why?…
It is the beginning of the calendar year, and for most of the businesses it is the end of their financial year. Now is the time to wrap up the current financial year, and to plan for the following financial…
What Happens If Your Company is Deregistered for Not Filing Annual Returns? Companies need to file annual returns with CIPC to stay legally active. If you miss this, your company can be deregistered. What Does Deregistration Mean? 1) The company…