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Section 7 of the Income Tax Act targets assets which are donated by a taxpaying person to another person with the intention of avoiding tax on the profits derived from these assets. Keeping Section 7 in mind is therefore crucial for effective annual tax planning. Read more…

For many years, employers were allowed to deduct their contributions made to employee disability or death policies on behalf of their employees, with no matching accounting for a fringe benefit in the hands of their employees. This changed on 1 January this year. Read more…

From 1 March 2011, all estate agents have had to meet the requirements of the Financial Intelligence Centre Act 38 of 2001 (FICA). Read more…

According to the Draft Taxation Laws Amendment Bill published in June 2011, a new venture capital company (VCC) regime will apply from 1 January 2012, should the draft amendments be implemented. Read more…

Exceed Tax and Advisory Services has announced that it is making CIMA management accounting staff available to perform cost and management accounting functions for clients. Read more…

Read more for an update on the FTSE/JSE All Share Index for the period 01 August 2011 – 18 August 2011 which includes an update on market and funds.

The month of July has been fraught with market uncertainty and big decisions by policymakers. The U.S. has put a band-aid on the fiscal situation by raising the debt ceiling and committing to a debt reduction plan; whilst in Europe the ECB failed to soothe market fears with the European Financial Stability Fund. The market reaction has been sceptical in light of implementation delays and other concerns. Read more…

The year is almost out and many employers contemplate rewarding their employees for their hard work while, at the same time, motivating them for 2012. Janine Nieuwoudt of BMT Dimensions gives the following basic rules regarding rewards in Practical Guide to Human Resources Management. Read more…

Since the new Companies Act of 2008 came into effect on 1 May 2011, companies have been faced with challenges regarding compliance with its numerous provisions, including the Memoranda of Incorporation. Read more…

Due to various legislative requirements, accounting documentation should be retained for a certain period. To assist clients with ascertaining the relevant retention periods, a summary of the most important acts and provisions is supplied. Read more…