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Choosing Accounting Software for Your Small Business
“Creativity is great - but not in accounting.” (Charles Scott, Former governor of Kentucky) Being able to track money as it is coming in and going out is essential for small business owners. Not having proper cash flow management and a full understanding of where your...
Is Your Trust Registered and Ready for Income Tax?
“A trust is a ‘person’ for tax purposes and is therefore a taxpayer in its own right.” (SARS) SARS recently sent out a reminder confirming that in terms of the Income Tax Act, 1962 (ITA), all trusts are taxpayers and that the trustees, who are also the representative...
Your Tax Deadlines for August 2022
5 August – Monthly Pay-As-You-Earn (PAYE) submissions and payments25 August - Value-Added Tax (VAT) manual submissions and payments30 August - Excise Duty payments31 August - Value-Added Tax (VAT) electronic submissions and payments & CIT Provisional payments...
Tax Season 2022 Now Open: Beware, This Year’s Deadlines are Shorter!
"Few of us ever test our powers of deduction, except when filling out an income tax form." (Laurence J. Peter) In this article, we look at the who, how and when of this 2022 Tax Season; highlight some issues that require special attention; and suggest practical next...
Keep Your Business Simple!
“Simple can be harder than complex: You have to work hard to get your thinking clean to make it simple. But it's worth it in the end because once you get there, you can move mountains.” (Steve Jobs, co-founder of Apple) It is easy in business culture to start...
Owe SARS a Tax Debt? Here Are Your Options…
“Tax debtors are expected to take responsibility for their tax obligations and to organise their affairs in such a way as to be able to discharge those responsibilities when required. They should give at least the same priority to tax obligations as their other...