quick tips for preventing time fraud

Quick Tips for Preventing Time Fraud

Fraud: it’s a word that strikes fear into every business owner’s heart and something any good leader takes steps to avoid. By hiring an accountant, you have already gone a long way toward ensuring no one will be able to slip finances out of your company illegally, but did you know there is another, more insidious kind of fraud that’s just as dangerous? Time fraud. Time fraud is exactly as it sounds, the theft of company time, and, unchecked, it can close your business, destroy client relations and ruin company morale. Here are our five tips for ensuring it never happens.
employers your coida return of earnings deadline is 30 june 2024

Employers: Your COIDA Return of Earnings Deadline is 30 June 2024

All employers - whether individuals or businesses – must be registered for COIDA, which aims to provide all employees with access to compensation if they contract an illness, suffer a disability or die while at work. To maintain COIDA good standing, every employer is also required to submit a Return of Earnings annually. The deadlines are currently tight, with the next one at the end of June, but we can still assist you to maintain good standing while avoiding possible penalties, fines, site visits and audits for late or incorrect submissions.
5 things you need to do after the cipc hack
, ,

Five Things You Need to do After the CIPC Hack

On the 1st of March 2024, South Africa’s official regulatory body for registering companies, co-operatives, and intellectual property rights (including trademarks, patents, designs and copyrights), the CIPC, put a notice on its website about a hacking incident on Thursday, the 29th of February 2024. Since then, additional information has come to light, which indicates this may be worse than the agency believes. Here are the five things you need to do after the CIPC hack.
beneficial ownership registers now mandatory with cipc annual returns
, ,

Beneficial Ownership Registers – Now Mandatory with CIPC Annual Returns

It’s been a year since 24 May 2023 when company directors and members of close corporations became obliged to lodge a Beneficial Ownership Register plus supporting documents with the Companies and Intellectual Property Commission (CIPC) - which also needs to be maintained, updated timeously and confirmed annually. Since all entities should have lodged this register by 24 May 2024 - a year later - it has now become mandatory to file beneficial ownership information before the annual returns can be submitted. Non-compliance with the beneficial ownership requirements has consequences, as does failing to submit the annual return timeously.
How and when to save a struggling start up
, ,

How and When to Save a Struggling Start-Up

When people speak about start-ups, they often only mention the successful ones. Stats, however, show that five years after founding only half of all businesses are still alive and after ten years only one third remain. The list of reasons for this is endless, ranging from a lack of capital to volatile markets and poor hiring choices. If your business is struggling it’s not unusual and there are definitely things you can do about it, but should you? Here’s our guide for knowing how and when to save your start-up.
Your employer annual declaration is due by 31 may
, ,

Your Employer Annual Declaration is Due by 31 May

Employers have only until 31 May 2024 to submit their Annual Reconciliation Declarations for the period 1 March 2023 to 29 February 2024. This is a focus area for the South African Revenue Service (SARS), not just to ensure employer compliance, but also because it ultimately enables SARS to issue individual taxpayers with income tax auto-assessments. Non-submission or late submission of declarations, and the submission of incorrect or inaccurate data, can attract penalties, interest and even criminal prosecution, making professional assistance important when submitting this year’s EMP501.
donating to a pbo check sars’ new requirements (and pbos note your new 31 may deadline)

Donating to a PBO? Check SARS’ New Requirements (and PBOs Note Your New 31 May Deadline)

With a valid tax certificate from a qualifying PBO, taxpayers – companies and individuals - can get a tax deduction for donations made. New requirements for both valid tax certificates and PBOs have been implemented by SARS, the most recent being effective from 31 May 2024, affecting both PBOs and their donors. Before donating to a PBO and relying on the tax break, be sure to first verify with us the eligibility of the PBO and tax certificate with the new requirements. For PBOs, our professional assistance in meeting the new requirements is recommended.
have your own budget shortfall here’s what to do... (1)

Have Your Own Budget Shortfall? Here’s What to Do…

Government’s approach to balance this year’s National Budget 2024 shortfall of R15 billion didn’t set a positive example for South African individuals and businesses that face the same economic challenges but are, unlike government, unable to side-step spending cuts by squeezing taxpayers and tapping into national reserves. Given the economic conditions, business and personal budget shortfalls are not uncommon. Find out here why it is so important to balance your own budgets and what to do when facing a shortfall without compromising your capacity to achieve your goals.
things to look for when buying a small business
,

Things to Look for When Buying a Small Business

On the surface buying into a small business can seem easy. There aren’t a lot of laws to negotiate, and payment can often be done in a single cash-based transaction. However, there are a lot of hidden pitfalls that could make this one of the worst decisions of a person’s life. This is why investment experts recommend doing “due dilligence” before you transfer all of your money. Here are the most important things to look for when buying a small business.
the five skills your business needs to cultivate in 2024
,

The Five Skills Your Business Needs to Cultivate in 2024

If you are like the vast majority of companies out there, you are neglecting employee training and it’s going to cost your business. This is the warning coming out of the Harvard Business review which reported that one of the main reasons top talent leaves an organisation is that they feel their career development is not being supported. In 2024, there is no excuse for this as there are dozens of new skills that employees need to be trained in for the true success of your business. Here are the most important.