When their market shrinks, especially in a struggling economy, companies must find ways to reduce their operational costs, and retrenchment may become an unavoidable option. It’s an unfortunate but sometimes necessary decision that can traumatise both dismissed employees and remaining staff, leaving psychological scars long afterwards.
The South African Revenue Service (SARS) is acutely aware of the decline in tax moral and tax compliance, say Thamasanqa Msiza, senior tax consultant & Darren Britz, senior tax attorney at Tax Consulting SA. Many of the changes to the annual tax Filing Season this year is to lower the cost of compliance for taxpayers, […]
The number of people enquiring and actually going through with the process of financial emigration has “skyrocketed”, says Jonty Leon, legal manager at Financial Emigration.
Taxpayers earning less than R500 000 per annum from one employer in a single tax year are not required by SARS to file their tax returns. However, tax consultants advise that taxpayers should still file their returns if there is a chance they would get a tax refund.
SARS vs Salaries The tough economic playground in South Africa has seen struggling business owners scraping their last pennies together to keep their businesses afloat for a number of years now. Out of sheer desperation and due to stretched cash flow problems, some business owners have been faced with the decision of rather paying their […]
The ability for employees and business owners to pre-tax structure their relatives’ school and tertiary education fees remains one of the few available but seldom used tax planning opportunities.
Hard skills are easy to quantify in the workplace and at home: either you know how to program software, or you don’t. Either you understand how to design a stellar spreadsheet, or you don’t.
Last week we were asked what Mr Edward Kieswetter’s first actions should be when he takes over the reins at SARS on 1 May. The answer for us was a no-brainer, crack down on those implicated in the State Capture Inquiry, starting with the beans spilled on Bosasa.
Newly appointed tax commissioner Edward Kieswetter has hinted at the regime he plans on implementing at the embattled Receiver from 1 May 2019. In short, the “tax holiday is over”. The sheriff is ready to clean up the town.
They may experience feelings of powerlessness and, subconsciously, being betrayed by the organisation to which they offered their allegiance.
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In the News
- NEWS | RETRENCHMENT MISTAKES EMPLOYERS MUST AVOIDJune 12, 2019 - 11:44 am
- TAX FILING SEASON – HERE ARE SOME CHANGES FROM SARSJune 10, 2019 - 8:10 am
- MASSIVE JUMP IN THE NUMBER OF SOUTH AFRICANS APPLYING TO FINANCIALLY EMIGRATEJune 7, 2019 - 8:43 am
- NEWS | TAX FILING SEASON: DON’T MISS OUT ON YOUR TAX RETURNJune 5, 2019 - 8:43 am
- NEWS | BE READY FOR SARS’ KNOCK ON YOUR DOORJune 3, 2019 - 10:01 am
- Can we use standard pay scales in the form of a regressed market for remuneration management?June 27, 2016 - 12:07 pm
- What are the key considerations when attempting to comply with “Equal Pay for work of equal value”?June 27, 2016 - 12:06 pm
- How do I optimally structure travel allowances for employees?June 27, 2016 - 12:04 pm
- How does a Total Reward Statement (TRS) enhance my company’s Employee Value Proposition (EVP)?June 27, 2016 - 12:03 pm
- What advantages does CTC with flexible benefits have for my staff and company?June 27, 2016 - 12:02 pm