Do you own your own small business? Do you have a plan in place if you die while you are still running it? Because none of us know when life will change, it is important to put in place a formal estate plan as soon as possible. If you don’t, you run the risk of…
Does your business pay bonuses? Do your employees expect you to give them a little something extra at the end of the year or for a job well done?
With the 2011 change in the Companies Act, 80 to 90% of companies in South Africa, namely PTY Ltds, do not require an annual audit. Rather the new Act allows for an independent review – an alternative form of ‘auditing’ a company’s financial statements. Will a review do for your company? Or would an annual…
Your business probably has a budget but do you? If not, you should! In these tough economic times, creating and sticking to a personal budget is a fundamental step towards using your money effectively and avoiding debt.
Simply defined, cash flow is the money coming into and going out of your business, tracked on a cash-flow statement. If you have positive cash flow, you have more money coming into your business – typically through sales – than going out – to expenses such as payroll, stock, and rent.
Taxes are an inevitable part of life and of your business. They need to be paid to ensure that you stay on the right side of the law. When it comes to your business, there are a number of tax requirements. As the owner, it is your responsibility to ensure they are fulfilled.
What it that SARS regards as suspicious activity or potential crime? SARS has made reporting a tax or customs crime easy and simple to encourage the public to help them identify the thieves and hand them the sentence or penalty they deserve.
Owner of PATC, Gavin Bacon, recently gave a talk at the Premier Hotel in Pinetown for the annual Durban Chamber of Commerce and Industry – Western Area Business Forum. Bacon’s aim was not to give a lecture and he did not intend on making everybody in the room proficient in Provisional Tax but he rather…
The 30th of this month (January 2015) marks the deadline for provisional taxpayers (individuals and trusts) to pay their taxes. Doing your taxes can be a daunting task but doesn’t necessarily need to be. PATC (Professional Accountants and Tax Consultants) is going to provide you with a few tips to stay on top of your…
What is Dividends Tax? Dividends Tax is a tax charged at 15% on shareholders when dividends are paid to them. Under normal circumstances Dividends Tax is withheld from the shareholders by a withholding agent (by the company paying the dividend/where a regulated intermediary is involved). A Dividend is…
