Latest News in the Accounting World

Tax Savings for Small Businesses
Tax savings - For several years now SARS has afforded small business tax relief if you qualify under certain criteria, therefore there are substantial tax savings for small businesses that fall under the following criteria:
Turnover for…

Corporate Income Tax – SARS Penalises late returns
On 14 December 2018, the public notice that allows the South African Revenue Service (SARS) to impose penalties on companies for not submitting corporate income tax returns was gazetted.
What does this mean for corporates ?
Administrative non-compliance…

My Tax refund, what’s the holdup?
Are you waiting on your SARS tax refund? You are not the only one!
According to the TAX OMBUD ANNUAL REPORT 2017/18, a staggering 35% of the complaints received by the tax Ombudsman relate to tax refunds, this being the highest type of complaint…

Top Tips for SARS eFiling
Tax season 2018 has arrived and has been in full swing since the 1st July 2018. In our previous article, Tax Season 2018, we outlined some need to know information about tax deadlines and when to file a tax return. Below follow some tips to…

TAX SEASON 2018
It was announced on the 4 July 2018, that this year’s Tax Season will be shortened by 3 weeks, with the season running from the 1 July to 31 October 2018 to allow more time for verifications before the December holiday break.
It is also anticipated…

The Impact of Increased VAT
As you may have been made aware and was outlined in our previous article, ‘2018 Budget Related Tax Implications’ Sunday, 1 April 2018 saw VAT increase from 14% to 15%. This was the first increase in 25 years.
What is VAT?
VAT stands…

2018 Budget Related Tax Implications
On 21 February 2018, former Finance Minister Malusi Gigaba delivered the 2018 National Budget Speech, describing it as “a tough but hopeful budget”. The effect this has on the taxpayer has been analysed in depth and publicised on many forums.
The…

What to look for in an accountant
As you start and grow your business, you will soon come to realise that the most important relationship you can build is the one with your accountant. No other resource will be able to give you an instant snapshot on the financial health of…

Quick steps to ease debt
A recent report issued by Sanlam revealed that a shocking seventy percent of middle-class South Africans are feeling crippling financial pressure. According to the survey, the blame can be placed on the cost of education and university, a lack…

Accounting tips to get your business on track
If you ask any business owner why they started their own company, very few will say, “to spend hours on accounting.” However, many entrepreneurs find the financial challenges of keeping their business afloat an unnecessary distraction to…

Top cash flow management tips
Maintaining a positive cash flow is the lifeblood of any successful business. Without a steady stream of cash coming in, debt can build up fast, you can fall behind on tax obligations and your business is at risk of becoming one of the many…

Accountants and Accounting – the cornerstone of business success
While many businesses take pride in their product or service, this does not provide a solid foundation for business success. As any investor or bank will tell you, the proof of a business’ success lies in its numbers.
However, many business…

SARS George is moving
SARS George
The SARS George (South African Revenue Services) office will be moving to a site behind the Garden Route Mall by mid 2016.
The traffic flow patterns in George will change drastically and many of the out of town visitors will…


How to do E-filing
SARS eFiling is a free, online process for the submission of returns and declarations and other related services, for more information visit the eFiling Services page. This free service allows taxpayers, tax practitioners and businesses to register…