The Compensation for Occupational Injuries and Diseases Act (COIDA) is a statutory insurance policy for your employees and pays them compensation if they are killed, injured, disabled or contract an occupational disease or illness whilst at work. Employers are required to submit an annual return which is due on 31 May this year. The return […]
It’s COIDA Time Again! Read More »
For ease of reference please refer to these links: Notes to the new tax tables The new tax tables for individuals and trusts other than special trusts The new tax tables for Small Business Corporations The new transfer duty rates
You and Budget 2017 Part 2: The New Tables Read More »
This budget is one of the most anticipated for many years with many questions still needing answers: How will the expected tax increases pan out? Will the Minister of Finance and his deputy keep their jobs? Will the budget incorporate “radical economic transformation” which has become the President’s mantra in the past few months? How
You and Budget 2017: Tax Increases Are Now the Order of the Day Read More »
The Office of the Tax Ombud (“OTO”) was created in 2013 and despite initial doubts as to its role has carved a niche for itself and gained credibility as a result. Recent legislation has strengthened the OTO. The Ombud was designed as a free service to taxpayers to assist them when there is poor service
TAX OMBUD NOW HAS MORE POWERS Read More »
2016 was our annus horribilis with drought, political uncertainty, low commodity prices, rising inflation and a weak currency. From such a low base, economists are arguing things should get better. What will drive the economy in 2017? Balance of Payments Our economy has been running a substantial trading deficit which puts pressure on the Rand
WILL 2017 BE BETTER THAN EXPECTED? Read More »
This summary was compiled by Pieter Steenkamp, Tax and Estate Specialist. Herewith a short summary of some of the tax proposals announced by the Minister of Finance, Pravin Gordhan in his budget on 22 February 2017. As far as income tax is concerned, these proposals are applicable to the 2018 tax year, i.e. year ending
Recent legislation has been passed which obliges trustees of sectional title schemes to set up a reserve for repairs, maintenance and asset replacement of the common property. This is in addition to the current administration requirement to cover future operating expenses. If you are involved with bodies corporate you need to pause and consider this
Sectional Title Owners Beware: Your Body Corporate Must Have Adequate Reserves Read More »
“She just did not want to be liable if he defaulted, a common regret felt by those who stand surety for defaulting debtors” . In the beginning ….. You are totally relaxed. The bank won’t give your son/daughter/spouse/partner/company/friend a loan unless you sign surety and, as always, it seems perfectly safe at the time. So
Signing Surety – The Sting’s in the Tail Read More »
This year’s new minimum wages for all domestic workers are set out in the table at the end of this article. Who is covered? All domestic workers in South Africa working in a private household People employed by employment services Independent contractors who are doing domestic work A person doing gardening in a private home
Minimum Wages for Domestic Workers Increased Read More »
There have been many articles in the financial press over mandatory audit firm rotation (MAFR). This followed an announcement by the Independent Regulatory Board for Auditors (IRBA) that they intend to implement MAFR in South Africa. MAFR is intended to strengthen auditor independence to enhance audit quality. There is no universal acceptance or rejection of
Mandatory Audit Firm Rotation is in the News – Will it Apply to You? Read More »
