Flood damage in KZN and EC
Per SAIT: The Solidarity Fund will assist with the flood damage in KZN and EC, separately from its COVID-19 response. Donations continue to qualify for a Section 18A income tax deduction.
Going concern implication and assessment
In terms of Section 22 of the Companies Act 2008, a company must not carry on its business recklessly, with gross negligence, with intent to defraud any person or for any fraudulent purpose or trade under insolvent circumstances. If the…
Questions on calculating the public interest score
One of the 4 factors to consider in calculating the public interest score is: “Total number of individuals with a direct or indirect beneficial interest in the company” What if the shareholder is a trust, who is regarded to have…
SARS EMP 501 Reconciliations
The Annual PAYE employer reconciliation declaration (EMP 501) submission period is 1 April 2022 and closes 31 May 2022. Submission channels for the reconciliation – VIA EASYFILE or SARS EFILING Status check of submissions must be done by Employers to…
Workmen’s Compensation
All Employers registered with the Compensation Fund, please note that the submission date for the 2021 Return of Earnings has been extended. The system will open from 01 April 2022 - 31 May 2022. Maximum earnings for period 1 March…
New 2022 Annual Reconciliation Season
The 2022 Annual Reconciliation Season will commence on 1 April 2022 and end on 31 May 2022. All employers are required to submit their annual reconciliation declarations covering the full tax year from 1 March 2021 to 28 February 2022…
Repayments of Covid-19 employees’ tax deferrals
Affected parties: Employers and representative employers that made use of the COVID-19 tax relief to defer their employees’ tax payments. Background On 21 April 2020, the President announced additional measures to assist employers to provide financial stability to their employees…
Paying SARS – Good News for Businesses
It is almost certain that you will experience a dispute regarding the SARS facts and laws surrounding a transaction would occur between yourself and SARS at some stage. As you may or may not be aware, SARS follows the 'Pay…