• accounting news (4)

At Fenns, we keep up with the latest developments in the accounting world, and now you can too. Stay informed with our monthly blog posts and newsletters, featuring insights, updates, and industry news.

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emigrating sars passport
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Understanding taxation of foreign employment income and exemptions

In this article, we will highlight the most important aspects of the foreign employment tax exemption and try to shed clarity on these intricate tax laws.
fenns inc outsourcing accounts department(1)
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5 Reasons to Outsource Your Accounts Department

Whether you’re a small business or large corporation, you need efficient accounting services to remain compliant with tax laws, correct bookkeeping, and other regulations. The big question is, how do you get the best quality service while at the same time keep costs down? Outsourcing your accounts department to professionals can provide significant benefits for your company.
Calculating tax deductions
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Tax Deductions You Might Not Know About

Whether you are an employee or business owner, there are certain ways to reduce your taxable income and tax bill, as well as increase the tax refund on your tax return by deducting legitimate expenses. Here are some tax deductions that you might not know about, and shouldn’t overlook.
corporate income tax
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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…
tax refund
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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…
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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…
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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…
Impacts of VAT increase
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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…
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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…
Chartered Accountant
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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…
Chartered Accountant
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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…
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