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  • February 2024 | Provisional Tax: Are You Ready for the Crucial 29 February Deadline?

    Especially for taxpayers required to make provisional tax payments on income as both individuals and as owners of companies, it may seem that a provisional or final income tax deadline lurks around every corner, with the next and crucial second payment deadline for most companies and individuals just a few short weeks away on 29 February 2024. Given the numerous declarations and payments overlapping through the year, provisional tax is among the most confusing aspects of the tax regime, and th...

  • January 2024 | 2024: Best Year Yet for Your Business?

    South African businesses have survived some incredibly trying and uncertain years, marked by lockdowns and blackouts, rising interest rates and tight economic conditions. While businesses have little control over these external challenges, what is under every business owner’s control is how the company approaches 2024.  You can exercise this control in three simple steps: Assessing the past, measuring the present, and planning for the future – approaching the year ahead with c...

  • December 2023 | Corporate Gifting: How to Boost Your Business This Festive Season

    There is no more appropriate time than the Festive Season to show appreciation to clients, suppliers and business partners, to build better business relationships and to differentiate your company from the competition.  Well-chosen corporate gifts are a great way to do so, and with these excellent corporate gifting tips, you will be able to create the right impression about your company, while also ensuring that your business associates feel valued. Giving your employees gifts this F...

  • November 2023 | Employee Incentives That Really Work for Small Businesses

    Happy and industrious employees are a huge step toward business success. In a small business, each and every employee needs to be performing to their best ability if the company hopes to succeed. Employee incentives are therefore a great tool for both keeping employees happy and building a successful business. The challenge, however, is that the incentives a small company can offer would not traditionally be as large as those offered by big corporations. So how can small businesses successfull...

  • October 2023 | The Risky New Trust Landscape – What Trustees Need to do Now

    Recent legal and tax amendments have considerably altered the trust landscape, placing onerous new duties on the shoulders of all trustees in South Africa, while also exposing them to significant risk, with penalties for non-compliance including substantial fines of up to R10 million or imprisonment for up to 5 years, and some of the impossible deadlines already passed! In this article, discover the new duties imposed on trustees and why professional assistance is essential to ensure complianc...

  • September 2023 | Using a “Risk Matrix” to Risk-Proof Your Business

    As an entrepreneur or business leader, working out the risks your business faces is critical to planning for the future and ensuring you are ready when disaster strikes. A “risk matrix” is a tool designed to help in this scenario as it allows you to plot and compare the likely risks your business faces and therefore establish a hierarchy of threat. Here is our guide to creating and using risk matrices to help you prepare for the threats that could scupper your business.Most tax cri...

  • August 2023 | Tax Season 2023 Now Open – What’s New and What’s Not

    The 2023 Tax Season in South Africa opened officially on 7 July 2023 for individuals who are both non-provisional taxpayers and provisional taxpayers – as well as for trusts.  While much has stayed the same from last year, like the auto assessments introduced in 2022, there are also a number of changes this year – ranging from new deadlines to revised requirements briefly overviewed in the article – which taxpayers should take heed of before proceeding and which provide ...

  • July 2023 | Ten Often-Overlooked Ways Your Accountant Can Help Your Business

    Anyone who is starting a new business knows that your accountant is who you go to when you need to do your taxes at the end of the year. Most will know that they can also do the books or offer financial advice. However, many won’t be aware of just how much more your accountants are able to do for your business and how much value can be accrued from speaking to a professional.  From assisting with HR, to streamlining cashflow and getting involved with your business software, accounta...

  • June 2023 | How to Use AI to Improve Your Small Business

    No one is able to login to social media these days without reading about Artificial Intelligence. The technology has been evolving at light speed and awareness of its various iterations has come on just as fast. But is Artificial Intelligence really all it’s cracked up to be and can it actually help businesses streamline operations and lower costs as promised? The answer is that while some of the more popular apps and claims certainly don’t yet live up to the hype, there are still ...

  • May 2023 | How You and Your Business Can Benefit from SARS’ Solar Tax Breaks

    South African companies and households, with no option but to seek alternatives to Eskom’s expensive, erratic and deteriorating supply, will be relieved to know that - from a tax perspective - the timing could not be better to invest in solar and renewable energy.  Two time-limited tax measures were announced in the 2023 Budget in February to encourage investment in renewable energy. The first is an expanded tax incentive for businesses that will reduce taxable income by 125% of the...

  • April 2023 | Why (and How) to Submit Skills Development Reports by 30 April

    While many companies pay the Skills Development Levy (SDL) that amounts to 1% of total payroll each month, not all companies are taking advantage of the incentives that allow as much as 70% of the paid levies to be claimed back by meeting certain requirements and submitting the required annual reports by the 30 April deadline.  Not claiming back the levies paid results not only in forfeiting of the monies recoverable but also in missing out on other benefits. In this article, we look at w...

  • March 2023 | Budget 2023: How It Affects You and Your Business

    Budget 2023 focussed firmly on the energy State of Disaster. The most prominent announcement was that government would take over R254 billion of Eskom’s debt, while two tax relief measures totalling R9 billion were introduced to assist individuals and businesses to invest in solar and renewable alternatives.  As a result of this and an improvement in revenue,  there were no major tax proposals in this Budget. The respite from tax increases and the tax relief from adjusted ...

  • February 2023 | Ignoring an Online Review Could be Catastrophic for Your Business!

    With so many choices available for almost every service, online reviews are starting to play an increasing role in every customer’s decision as to where they shop and what they buy. Sites like Yelp, Facebook and TripAdvisor, which allow customers to give feedback, have seen their popularity boom as people lean increasingly heavily on the advice of strangers. A recent report found that 93% of all customers check reviews before committing to buying anything, with 91% of all 18 to 34-year-ol...

  • January 2023 | Start 2023 Strong with the “Fresh Start Effect”

    “Use the right tool for the job” is common-sense advice that applies particularly well to business owners and managers at the start of a new year, which presents an opportune time to evaluate the previous year’s performance, to set targets and objectives for the next 12 months and begin implementing and monitoring improvements and changes.  Three business tools are indispensable to organisations of all sizes and across industries, including a business review tha...

  • December 2022 | The Why and the How of Annual Price Increases

    Businesses, particularly smaller ones, often neglect to implement annual increases in their prices, rates or fees: some due to poor management; many in fear of losing clients in a competitive market (as was particularly evident during COVID), and most simply due to a lack of know-how.  The reality is that not implementing annual increases will directly impact your profitability, as your input costs increase each year due to inflation. Maintaining the same prices for goods or services, whi...

  • November 2022 | Selling Your Business – Plan Well, with a Tax Benefit When You Retire

    There are many reasons why a business owner may decide to sell a business built up with great effort over time: perhaps to start another business or pursue a different opportunity; maybe for health reasons, to relocate or retire; or as part of a succession plan or exit strategy.  For whichever reason you might be considering selling your business, ensuring the best outcome for all concerned – including realising the highest possible return for your investment in the business - will ...

  • October 2022 | Is Your Pricing Model Killing Your Business?

    Sometimes in business you can see the end coming from a mile away. Losing your biggest client, conceding market share to a new competitor, or having your product become obsolete are all obvious signs that tough times are on the way. Some killing blows are a lot harder to detect. Perhaps one of the least noticed and most difficult to see coming, even if you are looking for it, is death by your pricing model and it's easy to understand why. Some companies accept their pricing models as part of t...

  • September 2022 | Recession on the Horizon: Here’s How to Survive

    It's no secret that economies around the world are struggling. Increased inflation, booming petrol prices and erratic stock markets are everywhere, and South Africa is not immune. Recently an economist at Oxford Economics Africa, Jee-A van der Linde, was quoted in the daily Maverick speaking about South Africa specifically. “Real gross domestic product [GDP] contracted on a quarterly basis in Q2, and we expect sluggish growth in the quarters to follow. The possibility of more intense loa...

  • August 2022 | Top Ten Tips for Maintaining a Strong Cash Flow

    Cash flow has been called the ‘lifeblood’ of a business, and all business owners can attest to the harsh reality that cash flow can make or break a company, particularly in the still-constrained financial circumstances of the post-pandemic business world, in which inflation and rising interest rates are creating further cash flow challenges. Given the crucial importance of proactively managing the cash flow in your business – and the fact that it is one of the biggest challe...

  • July 2022 | Tax Season 2022 Now Open: Beware, This Year’s Deadlines are Shorter!

    Yet another tax season is upon us, and this year the D-dates are much closer than you think! With the submission deadlines for all taxpayers substantially earlier this year, taxpayers are well-advised to get started on their tax returns without delay, making sure there is sufficient time to address any potential issues that may arise, and to avoid the substantial penalties and fees for late or non-submission. In this article, we look at the who, how and when of this 2022 Tax Season; highlight ...

Hennie Krige

Chartered Accountant since 2020 and Associate director of Pretoria East Branch since March 2022. With experience in the field of auditing, assurance, tax, advisory and forensic accounting, he’s been involved with a wide variety of locally owned audit clients operating in a range of economic sectors including co-operative banking, retail, manufacturing, and non- profit organisations.