Category: Tax Tips & Advice For You & Your Business

Personal Taxation on Cryptocurrency

Understanding personal taxation and cryptocurrency Q: What info is required to be submitted to SARS regarding Cryptocurrency transactions and in what format? A: You will need to treat it like transactions and keep a detailed report of all your transactions. For example: the date you purchased cryptocurrency, the cost amount spent on the asset, the…

Understanding the Principles of ISQC 1

Business meeting

The objective of the firm is to establish and maintain a system of quality control to provide it with reasonable assurance that: The firm and its personnel comply with professional standards and applicable legal and regulatory requirements; and Reports issued by the firm or engagement partners are appropriate in the circumstances.

Last Will & Testament Signature Instructions

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Thank you for letting us draft your Will! Signature Instructions Please carefully read the below lockdown and post lockdown instructions and procedures to avoid unnecessary errors which may cause your Will to be invalid. A. Introduction: Requirements of a Will

Shareholders Agreement: Do I Need One, & Why?

What Is a Shareholders Agreement? A shareholders agreement is an agreement between the owners of a company setting out how they are going to run the company together. Now Read Debt Relief Finance Scheme: SMME Development Dept.

Understanding COVID-19 Funding & How PATC Can Help You

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Here is a comprehensive list of the various funding schemes and grants that you can take advantage of. The role PATC will play: Only after you have gone through this list yourself, they must highlight to us which they think they might be able to benefit from. a. The list specifies what criteria you will…

Debt Relief Finance Scheme: SMME Development Dept.

the application process for debt relief

Kindly Note: This is a LOAN. It is NOT a ‘free’ Grant. If applied for and offered, the loan repayment will be favourable and interest rates as low a prime less 5%, however it is a loan. Small businesses (under R50m turnover) who are negatively affected are entitled to get assistance from the DSBD website….

PATC’s Coronavirus Management Plan

Corona Virus molecules

1.       DO NOT PANIC Avoid physical contact with other staff members and clients. Do not touch your face – use a tissue if you have to or toilet paper and then throw it in the dustbin. Recommend to clients that they either email or call or facetime or skype. Do not refuse a meeting, but…

Company Records

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PATC defines company records as any documents, accounts, books, writing, records or other information that a company is required to keep in terms of the Companies Act 71 of 2008, or any other public regulations. The Companies Act states in Section 24 that records should be retained in writing or in a form that can…

Employees Taxation

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Personal Service Company or Trust This is a company (or trust as the case may be) that is not a labour broker, and whose services to clients are performed on its behalf by a connected person; and such a person would be regarded as an employee of the client if the relationship was directly between…

Liquidation Procedures of All Entities

PATC reveals the financial significance of foreign exchange transactions

Liquidation is the process of bringing a business to an end and distributing its assets to claimants. It is an event that usually occurs when a company is insolvent, meaning it cannot pay its obligations when they come due. As company operations end, the remaining assets are used to pay creditors and shareholders, based on…