Taxpayers are required to be fully compliant in all their tax matters by submitting and paying their taxes on time. SARS is within their legal rights to recover monies owed to them by taxpayers. One of the ways they do this is through Section 179 of the Tax Administration Act, which can allow them to […]
These days the work culture has changed. Since lockdown was introduced. Some companies had to close shop and some employees were required to work from home. Also and in general, the world is changing and so is the way people work and interact. Many people, like myself, prefer working from home. Working from home has […]
What is rental income? Rental income arises when one rents out a portion of their home or when they entirely rent out their property (residential accommodation) and they receive rental income for this property or portion of it. Rental income can include: Holiday homes Air BnB Bed and breakfast establishments Guesthouses Renting a section of […]
Tax evasion is a crime which can see you spend a few of your days in prison. We are talking about a possible 5 years in prison. That is quite serious! When does the 2020 tax season begin? Due to Covid-19, the tax season will be shorter than normal. Normally, the tax season starts around […]
If your business is in a situation where you do not know if you should pay your VAT or not due to COVID-19 or lockdown, do some scenario planning before your VAT payments become due bearing in mind the penalties and interest that may hit you if you do not submit or pay in time.
Small business COVID-19 survival guide; Some ideas to help your business survive the lockdown & COVID-19 pandemic
We are in uncertain and difficult times. No one really knows what the future holds. Could it be that more and more businesses will move online after the pandemic? Is working from home finally going to be accepted on the South African market?
We do not have all the answers. But, we can only hope for the best or remodel our businesses to suit the current and possible future.
Broadly, the tax relief measures were as follows: 1. The introduction of a tax subsidy to employers of up to R500 per month for the next four months for those private-sector employees earning below R6,500 under the Employment Tax Incentive. This will help over 4 million workers; 2. The South African Revenue Service to accelerate the payment […]
As of today, South Africa reported that confirmed cases of Coronavirus have risen sharply over the last few days. As a result, tonight, 23 March 2020, the president announced further measures aimed at containing and managing the spread of the deadly virus. From midnight 26 March until midnight 16 April, the country will be under […]
Coronavirus has taken over the world and the number of infections and deaths are increasing by the day. Some businesses have been affected too, from staff working from home to complete shutdown or a shift in working hours. Ramaphosa is set to announce measure his government are likely to implement to help businesses. But while […]
Most of us understand the traditional concept of hunting and farming. It says one cannot eat what they did not kill or plant. But, if one does not hunt or plant, then they would have to borrow from those that did. And if they are to borrow from a skilled hunter/farmer, they might even pay […]