Estate planning is more than just writing a will
Procrastination is the biggest enemy of estate planning. While nobody likes thinking about dying, if you don’t plan for it you may leave family feuding, assets going to the wrong people, drawn-out litigation, and more money paid in estate taxes than what’s necessary.
How a business plan sets you up for success
A business plan is a written description of your business’s future and is an important tool for managing your start-up or growth.
Individual tax return: Should you DIY or hire a pro?
eFiling is quick, easy and cheap but the DIY approach could cost you more than the personalised service of an accountant.
Bad debt: how SARS views it
Every business owner’s dreaded scenario. You’ve done the work, the quality’s great, the product’s excellent, your workmanship exceeds expectations, but your client isn’t paying. You’ve exhausted every avenue for finding a way for the account to be paid and now you’re faced with writing off the debt. What are the tax implications for your business? […]
When can you claim tax for working from home?
With the Covid-19 pandemic having changed the way the world’s workforce operates, rather than being a place where employees congregate every day, offices are more likely to remain corporate hubs where teams meet to connect and innovate. In June 2021, it was estimated that 50% of South Africa’s workforce was working from home full-time and, […]
Top up your RA to save on tax
The 2022 tax year ends at the end of this month, which is a great time to review your investments and consider taking full advantage of the government incentives that help us save. One of these tax incentives is linked to your retirement annuities (RAs). While a well-invested RA is not only good for your […]
Should you be paying provisional tax?
As we begin the new income tax year, you’ll need to start thinking about preparing for provisional tax payments. Here’s a quick guide about what you need to know: What is provisional tax? Different from income tax, provisional tax is a way of paying your income tax liability in advance to ensure you don’t […]
Do your employees understand their annual bonus?
The difference between a thirteenth cheque and a performance bonus is clear but many employees aren’t aware that there’s a difference. A thirteenth cheque is an additional monthly salary or 8.33% of the employee’s annual salary that’s usually paid in December. A performance bonus is based on an employee’s performance and is subject to the […]
Balancing your business’s losses and taxes
In line with the 2021 Budget Announcement, Government proposes to broaden the corporate income tax base by restricting the offset of the balance of assessed losses carried forward to 80% of taxable income. The proposal extends to the balance of assessed losses at the time of implementation, i.e. it is not only the accumulation of losses starting […]