Background All individuals that are South African Tax Residents and that earn taxable income, in the form of a salary or otherwise, are liable to pay tax on their personal taxable income should it exceed the annual thresholds as defined…
In the world of business and tax compliance, staying up-to-date with regulatory requirements is crucial. A vital aspect that is often overlooked is the SARS Representative Update. If you’re wondering why this update is important and what might happen if…
Keeping your business’s financial records up to date is more important than you might think, especially when it comes to submitting tax returns. Here’s why staying on top of your accounting matters: 1. Avoid Expensive Mistakes If your financial records…
When it comes to a professional industry such as accounting, ethics and ethical behaviour are very important principles and should be adhered to at all levels within the accounting industry, from the simplest transaction allocation to the most in-depth review…
An EMP501 reconciliation is a statutory return that all employers registered for PAYE must submit to SARS. It is required to be filed twice a year and plays a vital role in ensuring that your business’s payroll information is accurately…
As an accounting firm, we meet a lot of clients that do not always understand why we need to do their accounting in a specific way or ask for more detail regarding their transactions. Accountants must be registered with…
When we speak of a backlog of your business’ accounting it means that; for a period, your financial information was not kept up to date in accordance with accepted accounting standards and, your legal and statutory submissions were probably not…
A lot of South Africans aspire to become successful entrepreneurs and take that important first step of registering a company with the Companies and Intellectual Property Commission (CIPC). But then life gets in the way and what was once a…
Congratulations! You are planning to open a new company. Setting up a new company can feel like an exhilarating roller coaster! You will experience, at times, nerve-wracking lows but also adrenaline-pumping highs. Connecting with experienced and knowledgeable peers to provide…
Ever wondered about the intricate world of personal tax? Here’s your comprehensive guide to mastering the understanding of individual income taxation. Personal tax covers a wide range—your salary, bonuses, investment gains, and more. It’s essentially a levy on your financial…