You are no doubt aware of the old adage “Nothing is certain but death and taxes”. While this seems like a stark statement, it does, in most cases, apply to any person generating an income. There is no escaping this legal obligation to pay tax but there is also no law against getting ‘tax smart’….
Do you run a small to medium business? When we mention company secretarial, is your receptionist/secretary the first thing that comes to mind? If so, you are not alone. Many SMEs are unaware of how outsourcing company secretarial services can benefit their business. Whilst the name can be confusing, company secretarial should not be confused…
Minister of Finance, Pravin Gordhan, must have faced a tough time balancing a National Budget in these times of slow economic growth coupled with a myriad of other challenges including the implementation of the National Health Insurance. However what was revealed in the 2013 budget speech should be pleasing for most South Africans and businesses…
Welcome to 2013! It seems a little cruel that each year the festive season is followed so closely by a number of imposing tax return deadlines. No sooner than you have ended your holiday, you are faced with these sobering reminders that bring you back to reality. In the first blog of the year, I…
If you are a business or individual earning an income, then chances are you will need to pay tax. Without an intimate knowledge of the South African tax system, calculating what you owe can be a minefield. At the one side, you do not want to be under calculating the tax you owe SARS as…
Quick introduction to provisional tax Provisional tax is designed to help you pay the tax you owe upfront on the income you are earning during a financial year. Instead of paying one large lump sum at the end of each tax year, payments are broken down into two parts during the course of the assessment…
Introduction to income tax If you are receiving income, you may be liable to pay income tax. Income tax is a tax that is levied on your income and applies to individuals, trusts and companies. Income tax was explained in more detail on one of my previous blogs ( What is income tax? ) but…
What is financial accounting? In August’s blog article we looked at the role of accountants in a general sense and how the true value of a good accountant was the ability to keep their finger on the pulse of the business’s finances, providing professional and strategic advice to the decision makers in a company. While…
Answering the question – “What is an accountant?” By definition, an accountant is a person involved in the financial side of a business and whose job it is to accurately maintain or inspect financial records. However they also play a key role in business, providing advice on the strategic direction of a company and also…
While tax calculators can give an estimate of the tax you are liable to pay, they are not always 100% accurate, especially for business owners and self employed individuals. Tax calculators for employees If you are an employee, SARS provides an easy to use tax calculator that will work out your PAYE, taxable income and…