Tax season 2023 SARS’ tax season has officially opened on 7 July 2023 and taxpayers are now able to file their 2023 income tax returns. SARS also launched a “Tax Return Status Dashboard” which enables taxpayers to keep track of the progress of their personal income tax return after submission in terms of verification/audit and…
Read MoreMinor children cannot receive inheritances directly from an estate, even if they have been named as an heir. Should both parents die, the proceeds of the parent’s assets will be paid to the Guardianship Fund managed by the Master of the High Court. If the parents have nominated a legal guardian, the money can be…
Read MoreThe filing season for individuals in South Africa opens on 7 July 2023 at 08:00 PM. This year auto assessments were issued by SARS between 1 July and 7 July. Auto assessments are based on third party data collected by SARS. The taxpayer is notified via email or SMS about this auto assessment and if…
Read MoreFinance Minister Enoch Godongwana announced on Wednesday 22 February 2023, that Eskom will receive R254 billion in debt relief over the next three years from the Treasury. The announcement was made during his budget speech to parliament in the midst of South African enduring ongoing high levels of load-shedding. The proposed debt relief is nearly…
Read MoreAn independent, reliable, and ethically sound audit gives your company credibility and enables you to limit your financial and business risks, therefore contributing to business success. We know that it’s vital to make the right decisions, therefore we’re going to detail 3 factors you should review on every auditor service and the key things to…
Read MoreLet’s dig into the details of provisional tax! Provisional tax season is fast approaching. It’s time to sit down with your accountant and do the necessary calculations. What is provisional tax? Provisional tax is not a separate tax from income tax. It is designed to help taxpayers settle their income tax in advance (think of…
Read MoreThe Covid-19 pandemic has changed the way businesses operate and the types of skills and professions that are needed in the future. With so much change and sometimes uncertainty, one could ask: is there still a demand for professions such as chartered accountants? What does it mean to be a Chartered Accountant? Also known as…
Read MoreSouth Africa is known for its many inspiring and prosperous start-up companies and entrepreneurs. Starting your own business has many rewards, but unfortunately for some, the journey ends with the idea of being an entrepreneur because the process of launching a business may seem too daunting or complicated. However, with the proper guidance and support,…
Read MoreAs the world gradually emerges from the COVID-19 pandemic and returns to a more regular routine, the permanent effects of the last 2 years on various industries are becoming apparent. Most professions were severely disrupted, especially during stricter lockdown times, with accounting and auditing being no exception. However, in many cases, these changes brought about…
Read MoreFinancial Year End (FYE) can be an overwhelming and stressful time for a business. For most companies in South Africa, the new fiscal year has only just begun and thinking of FYE may be something you only plan to do again in a few months’ time. However, being prepared and consistent with your financial records…
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