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2023 - 2023-04-06
April Tax Alert
South Africa’s recent Grey Listing by the global financial watchdog, Financial Action Task Force (FATF), has forced government to introduce new measures to ensure the country improves its image in combating money laundering and financial crimes. To this end, amendments were made to the Trust Property Control Act, which require trustees to:
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Tax - 2023-04-06
April Tax Alert
South Africa’s recent Grey Listing by the global financial watchdog, Financial Action Task Force (FATF), has forced government to introduce new measures to ensure the country improves its image in combating money laundering and financial crimes. To this end, amendments were made to the Trust Property Control Act, which require trustees to:
Read more
2022 - 2022-11-04
Show me the Money
This is not only a famous line from the movie Jerry Maguire but also an excellent interpretation of what financial statements do. Show you just where a company’s money comes from, where it goes and where it is right now.
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2022 - 2022-11-04
The past, present and future of the motor industry
In 2019, the South African automotive industry’s contribution to the GDP was 6.4%, well on its way to reaching the South African Automotive Masterplan (SAAM) 2021-2035 of producing 1% of global vehicle production...
Read more2022 - 2022-11-04
Mental health in a post pandemic workplace
As COVID-19 is slowly disappearing along with facemasks and vaccinations, more workplaces around the country are getting back to normal. But what is normal? For some it’s a two day, three day or even a full week back in the office.
Read moreTax - 2022-09-30
SARS Systemic Issues: Where to turn to?
The Office of the Tax Ombud (“OTO”) notes that a systemic issue is a matter that can be regarded as the underlying cause of a complaint that impacts or may impact many taxpayers. These issues can arise due to the manner in which SARS systems function, the manner in which SARS drafts and implements policies or procedures, or the manner in which it applies or disregards legislation.
Read moreTax - 2022-09-30
The necessary targeting of unexplained wealth
It is no secret that revenue authorities take a keen interest in the unexplained wealth of individuals. In some instances, for example, where wealth is prominently displayed on social media, it may be relatively easy for the South African Revenue Service (“SARS”) to gather information regarding unexplained wealth – as appears to be the case in CSARS v Hamiltonn Holdings (Pty) Ltd and Others (Case No. 2020/35696) where the High Court noted as follows
Read moreTax - 2022-09-30
VAT - The importance of understanding the nature of services supplied
In the recent case of Rennies Travel v CSARS (20/2021) [2022] ZASCA 83 (6 June 2022), the Supreme Court of Appeal (“SCA”) was required to consider whether a certain commission derived by Rennies Travel, an entity conducting a travel agency enterprise, was subject to VAT at the standard rate or, alternatively, at a zero rate.
Read more2022 - 2022-09-27
What to expect from CA2025
Many people when asked to describe a typical chartered accountant (‘CA’) will visualise someone in a grey suit with matching shoes, with their eyes glued to the figures on the screen in front of them.
Read more2022 - 2022-09-27
When good intentions are not enough
When any person or group starts a non-profit organisation, they do it with great enthusiasm and altruistic passion to make a difference. There’s nothing to fault such intentions but whilst they’re caught up in the moment of making a difference one area that’s often neglected is financial management.
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