We created this ever-growing list of acronyms and accounting terms commonly used by Tax and Accounting Professionals to help business owners clear up some confusion. Feel free to bookmark this page and refer back to it whenever you need to.
EMP201 – Monthly PAYE UIF SDL – tax on employees’ salaries Compulsory registration of any one employee including a director / member who earns more than the tax threshold. (for 2020 tax year R6583pm and more). The amounts deducted or withheld by you, the employer, must be paid to SARS on a monthly basis by …
History of Value-Added Tax Value-added tax (VAT) was introduced in South Africa on 29th September 1991 to replace General Sales Tax (GST) as an indirect system of taxation. It is levied in terms of the Value-Added Tax Act 89 of 1991. The South African Value-Added Tax Act makes allowance for exemptions, exceptions, deductions and adjustments …
This is the ultimate checklist for getting your life and finances in order. How many of these items have you checked off?
Are you spending too much time on the admin aspects of your business? You could be using this time to grow your business by communicating with your clients or researching new ventures that could ensure more profit. As a business owner, you know that good accounting is one of the essential foundations that you need …
8 Reasons Why You Should Outsource Your Accounting Services Read More »
Tax payers in our country often don’t know what the different types of tax are. Do you? Did you know that the profits of all businesses which operate in South Africa are taxable. As a business owner, you are responsible for filing your annual income tax returns with the South African Revenue Service. For individuals …
10 Types Of Tax In South Africa, Do You Know The Difference? Read More »
SARS can call for a review at any time. Are you prepared? Do you know why the South African Revenue Service would want to audit your business? Here are our reasons. Did you know that SARS can audit any return for any year for any period and they can re-audit the same period at a …
Red Flags that Cause SARS to Audit Your Business Read More »
So, you’ve been seeing lots of accounting software all over the inter-web lately. We have also noticed the huge changes in accounting operations. Why all the fuss, suddenly? Well, these changes come from growth in accounting technology and artificial intelligence.
Finding a reliable accountant in Pinetown, South Africa can be frustrating and confusing. You need to ask the right questions to find an accounting firm who will help grow your business.
