On 17 June 2022, SARS published the updated version of the Guide on the Determination of Medical Tax Credits (Issue 14). The guide provides general guidelines regarding […]
Company valuation methodology
It is good practice to know what your company is worth, to enable you to be prepared in the event of the unexpected passing of a business […]
Annual returns, the what and when
All companies and close corporations are required by law to submit their annual return with CIPC annually on the registration date (“birthday”) of the entity. An annual […]
Non-Compliance penalties for late returns
A Broader Scope of application SARS is required, in terms of section 210 of the Tax Administration Act, No 28 of 2011 (TAA), to impose fixed non-compliance […]
Rising Costs
The Reserve Bank has increased the repo rate by 50 basis points, resulting in a repo rate of 4.75% and prime lending rate of 8.25%. The motive […]
Will the change in company tax rate have an impact on February 2022 financial statements?
When an event occurred after the date of the financial statements but before the issued date, and this event will have a financial impact in the future, […]
Employment Tax Incentives – ETI Allowance
Monthly remuneration – When calculating the remuneration amount to be used for the ETI calculation, if the qualifying employee has been employed for: 160 hours in the […]
Flood damage in KZN and EC
Per SAIT: The Solidarity Fund will assist with the flood damage in KZN and EC, separately from its COVID-19 response. Donations continue to qualify for a Section […]
Going concern implication and assessment
In terms of Section 22 of the Companies Act 2008, a company must not carry on its business recklessly, with gross negligence, with intent to defraud any […]
Questions on calculating the public interest score
One of the 4 factors to consider in calculating the public interest score is: “Total number of individuals with a direct or indirect beneficial interest in the […]