5 Digital networking tips to help your business stand out
The importance of networking – especially during COVID-19 – should not be overlooked. While many business owners have been struggling to stay afloat in the economic downturn that has resulted from the events of 2020, they may have been neglecting one of their key resources in maintaining their success. Good networking skills are one of the most valuable business assets that any business […]
Requests for suspension of payment from SARS
Since its introduction, the “pay now, argue later” rule relating to disputed amounts of tax has been and remains to be the subject of much controversy, and rightfully so. The basic premise is that even though you disagree with an amount of tax, once you have been assessed by SARS, the amount becomes due and […]
Fixed and reimbursive travel allowances
When determining the best remuneration package for travelling employees, South African employers and employees are continuously considering the benefits between a travel allowance, a reimbursive travel allowance or both. For this purpose, the employees’ tax (“PAYE’’) and income tax consequences of these two allowances are set out in more detail below. A travel allowance is […]
Bad debts and VAT
While there is currently a focus on the income tax considerations of bad and doubtful debts (given that National Treasury has proposed changes to section 11(j) of the Income Tax Act [1] to allow for an allowance of 25% of impairments in respect of doubtful debts), the Value Added Tax (VAT) aspect of bad debts […]