Newsletters

  • The New Travel Allowances: How Do They Affect You and Are They Working?

    19 July 2018
    The 2018/2019 tax year sees important changes to how, as an employee, you can be reimbursed for your business travel expenses. Both employers and employees should know how they will affect you in practice. We discuss the three types of travel allowance, the new changes, the reasons why SARS has made them, and the administrative burden and other considerations for employers. That’s all important of course, but your bottom line question is always going to be “What’s best f...
  • Your 2018 Tax Season Deadline: Brought Forward By Three Weeks?

    19 June 2018
    Tax Season 2018 for individuals has just opened, and as always you should start getting everything together now because late lodgement of returns will expose you to totally unnecessary penalties and interest.  We discuss whether you need to submit an income tax return in the first place, and if so whether you are affected by the new 31 October deadline. We’ll also take a look at why SARS has brought the deadline forward by three weeks and at the benefits to both taxpayers and SARS...
  • Lessons for Your Business: How Does the World’s Most Successful Company Keep Growing?

    16 May 2018
    Launching your business onto a sustained (and sustainable) growth trajectory has always been the Holy Grail for SMEs as much as it is for the big corporates. But how do you achieve that? Jeff Bezos recently shared with Amazon shareholders just how important the company’s deployment of high standards “at all levels of detail” has been to Amazon’s phenomenal success.  Let’s analyse Bezos’ 6 key principles for realising and maintaining high standards,...
  • Practical Tips on Cash Flow

    20 April 2018
    Cash flow, as Richard Branson has pointed out, is literally the life-blood of your business. So quite apart from your legal duty (assuming that you are a company director) to ensure that your business can meet all its short term obligations, it is vital for you to keep an extremely close eye on both your inflows and your outflows. We share some practical advice on managing the 5 most important aspects of cash flow…SMEs in particular should take note of the opportunities presented b...
  • Directors: The Steinhoff Debacle Highlights Your Exposure to Personal Liability

    28 March 2018
    If you are a company director, whether executive or non-executive, you should be constantly aware of your duties in terms of the Companies Act and of the consequences of failing to live up to your statutory responsibilities.  The Steinhoff debacle has of course sent shockwaves through South Africa generally, but it also highlights a particular danger that faces directors daily – the risk of personal liability. Let’s have a look at how Steinhoff could set a precedent on that&...
  • You and Budget 2018: It Could Have Been Worse!

    28 February 2018
    “What people really want is fairness. They want people paying their fair share of taxes” (Barack Obama) Our “tough but hopeful” Budget 2018 has been widely greeted as being as positive and well-balanced as could be expected in our current circumstances.  But do we still face a full downgrade to Junk Status? What will investors think? And how will the proposed changes affect us all in practic...
  • Stop the World I Want To Get Off

    24 January 2018
    Our lives seem to become more stressful every day, and the barrage of “urgent” emails and Social Media messages that we are subjected to certainly doesn't help. Why do we feel compelled to check our emails so often?  What happens if we train ourselves to reduce the number of times we look at our emails to say three times a day? How does that affect us personally? How does it impact on our productivity and on our interactions with colleagues? Read on for the answers&hellip...
  • Directors: Watch Your Liquidity and Solvency

    14 December 2017
    As a company director you need to be aware of the Companies Act’s requirements in regard to testing for and maintaining liquidity and solvency.  Failure to do so not only risks the health and viability of your company, it also exposes you to the possibility of personal liability. We look at what these concepts entail, at how to monitor them effectively, and at your legal obligations if danger signs appear.SARS has been in for some bad press in the last few years, and taxpayer frus...
  • Middle Managers – They’re Vital to Your Success!

    09 November 2017
    “I was appointed to middle management; I didn’t know I could sink so low.”  If that’s what your middle managers are saying, your business is losing out! Why is middle management so vital to your success?   We’ll discuss how, just as successful sports teams rely on their captains to implement your game plan, to make key decisions on the field and to provide inspiration to the team, so middle managers provide the same key functions in your business....
  • Climate Change: Make Sure Your Home is Correctly Insured

    25 October 2017
    Fires, storms, floods and other natural disasters are on the rise in South Africa, and as worldwide climate change accelerates we can expect to see more and more scenes of devastation on our TV screens.  And that means that the risk of not being fully insured for such losses is multiplying by the day.   Don’t take a chance with this – read our 6 point checklist to make sure that you have adequate insurance for your home, vehicles, business premises and other import...
  • Running On Empty: Is Our Downgrade To Full Junk Status Coming?

    26 September 2017
    South Africa’s “Day of Reckoning” will be 25 October, when the new Minister of Finance presents the MTBF (Medium Term Budget Framework).  We should all be concerned about what will happen to our credit rating if the agencies aren’t satisfied that we are still committed to a prudent fiscal policy.   To date only our Rand denominated debt (about 10% of our total debt) has been classified as junk, but could we be in for worse? The problem is that the Mi...
  • Directors’ Meeting Minutes: Why Are They So Important?

    29 August 2017
    Directors must be constantly aware of their risk of personal liability if they fail to fulfil their fiduciary duties in compliance with the Companies Act. Directors’ meetings are critical in this regard, and we discuss what is required in terms of minutes to be kept, what they must contain and why they are so important. We also look at the golden rules of minutes - the “5Ws” (“Who?”, “What?”, “Where?”, “When?” and “Wh...
  • FICA: Will the Revised Act Still be a Four Letter Word?

    26 July 2017
    We are so used to the hassle of having to submit FICA (Financial Intelligence Centre Act) documents every time we want enter into any form of financial transaction that we talk about “being FICA’d”. It has become a real problem for many of us, but there’s hopefully some good news in recent amendments to FICA.  Financial institutions will now adopt a risk-based approach, requiring them in particular to identify “Prominent Public Officials” and “P...
  • Tax Season Opened On 1 July: Here’s What You Need to Know, and Do

    27 June 2017
    Once again tax season has opened for individuals. We look at the documentation you will need before you submit your return, whether or not you have to (or should) submit a return in the first place, and what your submission deadlines are this year.   Read on for the details …..Your suppliers play a strategic role in your business because if they fail to deliver on time or with the required quality, they can cause delays in your organisation. These delays will inevitably have a...
  • Lean Times Ahead: 6 Steps to Help You through Them

    29 May 2017
    Hard times are upon us, and the fact that we have successfully weathered the first month or two of the ratings downgrades shouldn’t lull us into a sense of security.   If government doesn’t take action right now to avoid further downgrades, our “Junk Status phony war” will be followed by even greater financial difficulty for us all. We suggest 6 steps you can take to minimise the pain, with a note for employers on why and how you should help your staff through...
  • Junk Status Is Now a Reality – How Will It Affect Us?

    21 April 2017
    Junk status is upon us. How has it affected our economy so far?  What does the future hold?  How is it likely to affect our daily lives in practical terms?  Fin24’s powerful Infographic “How Junk Status Will Affect You” says it all. And don’t forget we have been here before – our chart “Credit Rating History since 1994” puts it into perspective … Your business could lose millions from internal fraud.   We h...
  • You Will Retire, So Get Ready Now!

    28 March 2017
    Benjamin Franklin once said the only certainties in life are death and taxes. To that you can add retirement (assuming the Grim Reaper doesn’t interfere earlier). Yet research shows that no more than 10% of us can retire comfortably. We share with you 7 practical steps on how you should start preparing right now for an enjoyable and stress-free retirement.Over half of complaints received by the Tax Ombud relate to the long time taken to pay I...
  • You and Budget 2017: Tax Increases Are Now the Order of the Day

    24 February 2017
    This budget is one of the most important and anticipated for many years. Read on for the tax increases, the good news (there is some!), the perils we still face, the downgrade potential, and the new “radical economic transformation” policy.For ease of reference we bring you - The new tax tables for individuals and trusts other than special trusts The new tax tables for Small Business Corporations The new transfer duty rates If you are a ...
  • Will 2017 Be Better Than Expected?

    27 January 2017
    2016 was our annus horribilis with drought, political uncertainty, low commodity prices, rising inflation and a weak currency.  From such a low base, economists are arguing things should get better.
    What will drive the economy in 2017? 
    One underrated but important aspect of an organisation is its ability to run effective meetings. Problems are identified and strategies are put in plac...
  • In 2017 there’s No Place for Hedgehogs When Forecasting

    20 December 2016
    “A fox knows many things, but a hedgehog one important thing"
    (Ancient Greek poet Archilochus) What’s in store for us and our businesses in 2017? Read on to see how “Tetlock’s Ten Commandments” will help you forecast the future like Clever Mr. Fox….. Lately, all we seem to get is depressing news – p...