Monthly Archives: October 2012

Having usable business information readily available no longer needs to be a challenge for SMEs

One of the perennial struggles faced by SMEs is getting data from their source systems into a format that they can easily analyse and report on. This is especially applicable to accounting packages – which comprise the heartbeat of the … Continue reading

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Administration 101: Three things to think about

Unemployment Insurance Fund (UIF) Increase – Update Your Systems The Minister of Labour announced, via Government Gazette on 26 September, that the UIF threshold had been raised from 1 October 2012. The ceiling amount goes from R149,736 per annum (or … Continue reading

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IFRS for SMEs is here!

The Accounting Practices Board has withdrawn SA GAAP (South African Generally Accepted Accounting Practice) as a basis for preparing annual financial statements for SMEs (Small and Medium-sized Entities). The choices (with two exceptions noted below) for SMEs are either IFRS … Continue reading

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The new Ombudsman: Will you benefit?

Ombudsman (noun); “An official appointed to investigate individuals’ complaints against an organisation, especially a public authority” (Concise Oxford English Dictionary) The Tax Administration Act became effective on October 1 2012. Included in this Act is the appointment of a “Tax … Continue reading

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VAT 201 Returns: “Business as usual”

Following the implementation of the new Tax Administration Act (TAA) on 1 October, there was widespread concern that VAT 201 returns submitted via eFiling could no longer be submitted on the last business day of the applicable month as was … Continue reading

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Administration 101: Three things to think about

101.1 Unemployment Insurance Fund (UIF) Increase – Update Your Systems The Minister of Labour announced, via Government Gazette on 26 September, that the UIF threshold had been raised from 1 October 2012. The ceiling amount goes from R149,736 per annum … Continue reading

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Having usable business information readily available no longer needs to be a challenge for SMEs

One of the perennial struggles faced by SMEs is getting data from their source systems into a format that they can easily analyse and report on. This is especially applicable to accounting packages – which comprise the heartbeat of the … Continue reading

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Time is Running Out if Your Residence is in a Trust, a Company or a Close Corporation (CC)

Did you purchase your residence in one of the above entities? Now do you find yourself wondering how you can extricate yourself from this without incurring transfer duty, capital gains tax (CGT), and dividends tax (DT)? The government has given … Continue reading

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Business 101: If Your Head Isn’t In The Clouds, Your IT Platform Soon Will Be!

Cloud computing has grown rapidly overseas and is beginning to take off in South Africa. This is technology which puts small and medium businesses (SMEs) on the same IT footing as the larger corporates and multi-nationals. Normally entities with large … Continue reading

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Annual Duty and Annual Returns: Another Burden?

We live in an age of increasing compliance, which carries with it both a cost and the consequences of non-compliance. Why annual returns? All companies and close corporations (CCs) are obliged to file an annual return with the Companies and … Continue reading

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