This year’s budget speech took place on the 26th of February 2014 and took various factors from previous years into consideration in order to formulate a clear plan for the future. Minister Pravin Gordhan acknowledged South Africa’s achievement in the last five years in light of the economic recession but emphasised that there is still…
Financial year-end can often be a stressful and is a very busy time for companies, as each department gathers their reports and statements, in order to complete the financial year-end successfully. In order for a smooth process you need to start early and check that your company has records, reports and statements for the following:…
The following types of businesses are liable to submit a return under the Income Tax Act, 1962 for the payment of tax on all income received by or accrued to them within a financial year: Listed Public Companies Unlisted Public Companies Private Companies Close Corporations Co-operatives Collective Investment Schemes Small Business Corporation (s12E) Body Corporates Share…
There are many unskilled and inexperienced youth in South Africa and it is difficult for them to start contributing to the economy without experience. Many employees have been reluctant to hire inexperienced unskilled youth, and contributing to this fear has been the restrictiveness of the labour regulations. Last year, SARS implemented a new incentive scheme…
However if you’re a provisional taxpayer the deadline was 22 Nov 2013 and if you are submitting it via eFiling the deadline was extended to 31st of January 2014 – provided all your tax affairs are in order. You need to submit if you are: Younger than 65 years old and earned R63 556 income…
Annual financial statements are very important as they provide you with a lot of information about your company and its future. Annual financial statements can provide you with information such as earnings and if they’re higher or lower than the previous year, how sales are doing and whether the company is making more money than…
When it comes to owning your own business and working for yourself, there are a lot of things to remember. All these aspects to remember are things that could help or hinder your business. One very important job to remember is that of record keeping. It requires a fair amount of patience and organisation but,…
What exactly are the rules and regulations regarding domestic workers? Approximately 1 to 1.5 million South Africans work as domestic workers, gardeners and child minders. These days, there are far more rules and regulations regarding domestic worker than in the past. In present day, they are now considered regular workers just like a chartered accountant,…
What info do you need and how can PATC help? You might be cringing at the thought of submitting your tax returns but it need not be that difficult, let us help you tick off the check list and get all your tax documents in order and we will submit your tax return for you….
People are subject to scams every day and they are becoming increasingly difficult to spot the difference between a scam and a legitimate email so you need to remain vigilant when working online. As a result of this increase in scams and phishing attacks SARS has created a section of the website where they will…
