South African entrepreneurs face a unique set of challenges in 2025, from navigating fluctuating economic conditions to adapting to technological advancements. Building resilience is key to thriving in this dynamic environment. This article explores actionable strategies to help entrepreneurs overcome obstacles and achieve long-term success. Strategies to Thrive in Uncertain Economic Conditions The Importance of […]
01
Jan
Jan
Managing your busines operations effectively is critical for small business success. With the right tools, entrepreneurs can streamline operations, enhance decision-making, and ensure compliance. These are five tools that we use in our business and some of our clients use in theirs. We consider these to be “must-haves” in our business. We have detailed below […]
01
Jan
Jan
Starting the year with a robust financial plan sets the stage for achieving business success. Use this checklist to streamline your operations and focus on growth. Monthly Checklist for Financial Success Simplify Your Tasks with Primorial’s Tools Primorial offers templates and tools to: Call-to-Action: Join our Facebook group for exclusive access to checklists, how-to-videos and […]
01
Jan
Jan
Financial literacy is a cornerstone of entrepreneurial success. With the right knowledge, business owners can make informed decisions, plan strategically, and drive growth. Here’s why financial education matters and how Primorial is leading the charge: The Importance of Financial Literacy Empowering Women and Youth Primorial’s initiatives focus on: Upcoming Resources to Look Forward To By […]
01
Dec
Dec
The festive season is a prime time to attract customers without overspending. Focus on leveraging digital platforms, like email campaigns and social media, to promote special offers. Collaborate with other small businesses for cross-promotions. Create holiday-themed content that engages your audience, from giveaways to countdown deals. Emphasize customer loyalty by offering discounts or exclusive perks. […]
01
Dec
Dec
The festive season brings both opportunities and challenges for businesses. Start by reviewing your financials to forecast needs accurately. Create a budget for seasonal spending, including bonuses and marketing, while reserving funds for early-year obligations. Use this time to assess outstanding invoices and streamline accounts receivable processes. Finally, invest in technology or outsourcing solutions to […]
01
Dec
Dec
Year-end is a perfect time to revisit your deductible expenses and ensure your tax claims are accurate and legitimate. Properly utilizing deductions not only reduces your taxable income but also strengthens your financial foundation. Festive payroll often includes bonuses and extra costs, making it essential to plan. Start by calculating year-end payroll expenses, including UIF […]
01
Dec
Dec
As the year ends, staying compliant with SARS regulations is crucial. Start by confirming deadlines for VAT, PAYE, and provisional tax submissions. Organize receipts and documentation to ease the filing process. If your financial records need attention, consider outsourcing to ensure accuracy. Claim all eligible deductions, such as festive season expenses, but avoid over-claiming to […]
01
Dec
Dec
As 2024 wraps up, it’s time to reflect on the past year and set a financial strategy for 2025. A proactive approach ensures your business is equipped for sustainable growth and stability. 1. Evaluate 2024’s Performance Review key financial metrics, including revenue, expenses, and cash flow. Identify trends, strengths, and areas for improvement to guide […]
01
Nov
Nov
In today’s rapidly evolving global economy, digital nomadism and remote work are no longer niche trends—they’ve become mainstream, especially in emerging markets. With advancements in technology and a growing demand for flexible work environments, entrepreneurs across countries like India, Kenya, and Vietnam are seizing the opportunity to leverage global talent pools while significantly reducing overhead […]
01
Nov
Nov
Sustainability is no longer a buzzword but a key business imperative in today’s global marketplace. Entrepreneurs in emerging markets like Southeast Asia and Africa are increasingly integrating eco-friendly practices into their business models, driven by a growing consumer demand for sustainability. These regions, once heavily reliant on traditional industries, are transforming into hubs of innovation […]
01
Nov
Nov
Blockchain technology is transforming the entrepreneurial landscape in emerging markets, particularly in regions where access to traditional banking is limited. Entrepreneurs across Africa and Latin America are harnessing the power of blockchain to create new business models, foster financial inclusion, and drive innovation. By enabling secure transactions, decentralized finance (DeFi), and transparent supply chains, blockchain […]
01
Nov
Nov
As we move through 2024, the global business environment continues to face significant geopolitical tensions, impacting markets around the world. For entrepreneurs in emerging markets, these challenges—ranging from supply chain disruptions to inflationary pressures—can create both obstacles and opportunities. While the geopolitical landscape is uncertain, entrepreneurs in countries like India, Kenya, and Brazil are adapting […]
24
Oct
Oct
Financial forecasting is a vital tool for any small business looking to plan for long-term success. It enables business owners to anticipate financial needs, allocate resources effectively, and stay ahead of potential risks. Here’s how you can get started: 1. Set Clear Objectives Begin by defining what you want to achieve. Whether it’s forecasting revenue, […]
01
Oct
Oct
As an entrepreneur, managing the day-to-day operations of your business can be exciting, but it can also be overwhelming. From tracking expenses and cash flow to ensuring tax compliance and long-term profitability, the financial responsibilities of running a business often contribute to high levels of stress. Without proper financial management strategies, this stress can easily […]
01
Oct
Oct
As a business owner, your employees are one of your most valuable assets. Their productivity, creativity, and commitment are crucial to the sustainability and long-term profitability of your small business. However, in order for them to perform at their best, it’s vital to foster a work environment that supports both their mental and physical well-being. […]
01
Oct
Oct
Running a small business can be deeply rewarding, but it often comes with high levels of stress and responsibility. As a business owner, you’re expected to wear many hats—overseeing operations, managing teams, and ensuring your business remains financially stable. For many entrepreneurs, managing finances can be particularly daunting, especially when you’re already juggling countless other […]
01
Oct
Oct
In today’s fast-paced work environment, small business owners often prioritize financial performance and operations to achieve sustainability and long-term profitability. However, a key aspect that is often overlooked but has a direct influence on business success is employee well-being, particularly mental health. Studies have shown that businesses where mental health is prioritized tend to be […]
01
Sep
Sep
Being a business owner is far from the simplicity and predictability of a board game like Monopoly. In Monopoly, the rules are clear, the objectives are straightforward, and the game ends when someone wins by bankrupting their competitors. In contrast, real-world entrepreneurship is a complex, ongoing journey with no defined endpoint. Unlike Monopoly, where everyone […]
01
Sep
Sep
Owning a small business is often portrayed as the ultimate path to freedom and financial independence. The allure of being your own boss, setting your own hours, and reaping the rewards of your hard work can be incredibly appealing. However, the reality of small business ownership is often far more complex and challenging. Behind the […]
01
Sep
Sep
For small business owners, tax payments can be a significant source of cash flow strain. Unlike regular expenses, taxes often come in large, periodic sums that can disrupt the financial balance of a business if not properly managed. However, with careful planning and smart strategies, you can ease this burden and keep your cash flow […]
01
Sep
Sep
At Primorial, we understand that managing cash flow is one of the most critical aspects of running a successful small business. Cash flow management isn’t just about keeping the lights on—it’s about building a foundation for long-term profitability and growth. As your partner in long-term profitability, we’re here to offer actionable tips that will help […]
01
Sep
Sep
For any business, especially small ones, maintaining a positive cash balance is not just a goal—it’s a necessity for survival. Cash flow is the lifeblood of a business, fueling day-to-day operations, growth opportunities, and the ability to navigate challenges. However, managing cash effectively is one of the most common survival challenges that small businesses face. […]
01
Sep
Sep
One Page Plan is a simplified and concise roadmap that captures the core strategies, and key actions of your business — all on a single page.
01
Aug
Aug
Women’s Month in South Africa is a time to celebrate the achievements of women and recognize the ongoing challenges that they face. At Primorial, we are dedicated to supporting female-led startups, helping them break barriers and achieve success through our comprehensive advisory services. The Historical Context of Women’s Month Women’s Month commemorates the 1956 march […]
01
Aug
Aug
As we celebrate Women’s Month in South Africa, we honour the strength, resilience, and contributions of women to our society. Women’s Month is a reminder of the progress we’ve made and the work that still needs to be done to achieve gender equality. At Primorial, being women-lead ourselves, we are dedicated to empowering women entrepreneurs, […]
01
Aug
Aug
As we celebrate Women’s Month in South Africa, it’s essential to focus on empowering the next generation of female leaders. At Primorial, we are committed to fostering leadership skills through mentorship programs and educational opportunities, ensuring that young women are prepared to lead and succeed in the business world. The Importance of Early Mentorship and […]
01
Aug
Aug
As we celebrate Women’s Month in South Africa, it’s essential to focus on the economic empowerment of women through financial literacy. At Primorial, we believe that equipping women with financial knowledge is crucial for their success and long-term prosperity. The Importance of Financial Literacy Financial literacy involves understanding and effectively using various financial skills, including […]
28
Jun
Jun
At Primorial, we understand the challenges small businesses face in navigating the complex world of taxes. As a SAICA-accredited firm and registered SARS Tax Practitioner, our goal is to partner with businesses for their long-term profitability. Effective tax planning can make a significant difference in your business’s financial health, helping you save money and reinvest […]
28
Jun
Jun
Starting a new business is an exciting journey filled with opportunities and challenges. As a new entrepreneur in South Africa, one of the most crucial aspects of ensuring your business’s success is navigating the compliance landscape. At Primorial, we understand the complexities involved and are here to help you every step of the way. Our […]
28
May
May
“The employment tax incentive is aimed at encouraging employers to hire young and less experienced work seekers.” (SARS Employers ETI Guide) With Youth Day celebrations around the corner, business owners have an opportunity not only to consider unlocking the benefits of having young workers in their teams, but also to make a difference to South […]
28
May
May
“Leadership and learning are indispensable to each other.” (John F. Kennedy) The world of work is changing, rapidly. With more teams made up of diverse people from a wide variety of locations, leadership these days has become less about personal relationships and more about managing across distance and effective organisation. Leaders in this world need […]
28
May
May
“Fraud and deceit are anxious for your money. Be informed and prudent” (John Andreas Widtsoe, scientist, author and religious leader) While accountants have become adept at spotting and preventing financial fraud simply by analysing a company’s books, there is another kind of fraud that needs alert leadership, record keeping and careful analysis to completely snuff […]
28
May
May
“The Compensation Fund is mandated to provide social security to the injured-on-duty employees and those who contracted diseases at the workplace.” (Compensation Fund Annual Report 2021/2022) By law, all employers are compelled to register for COIDA (Compensation for Occupational Injuries and Diseases Act No. 130 of 1993) within 7 days of employing their first employee. […]
28
May
May
07 June – Monthly Pay-As-You-Earn (PAYE) submissions and payments 25 June – Value-Added Tax (VAT) manual submissions and payments 27 June – Excise Duty payments 28 June – Corporate Income Tax (CIT) Provisional Tax payments 28 June – End of the 1st fiscal quarter 28 June – Value-Added Tax (VAT) electronic submissions and payments. Disclaimer: The […]
26
Apr
Apr
“Failure by an employer to comply with its obligations does not only harm that employer and the fiscus, but also employees. SARS vigorously pursues employers that fail to comply.” (SARS) Employers must submit their annual reconciliation declarations (EMP501) with accurate and up-to-date payroll information about their employees by 31 May this year. This is among the […]
26
Apr
Apr
“Failure is simply the opportunity to begin again, this time more intelligently.”- (Henry Ford, founder of Ford Motor Company) Data from StatsSA has shown that more than 1,500 businesses closed their doors for good in South Africa last year. This can come as no surprise to anyone who conducts business in South Africa at the moment, […]
26
Apr
Apr
“It is imperative that ALL companies and close corporations ensure compliance with the beneficial ownership filing requirements, to ensure good corporate governance and business continuity.” (CIPC) Following changes to the Companies Act on 24 May 2023, company directors and members of close corporations are obliged to lodge and maintain a detailed Beneficial Ownership (BO) Register, along […]
26
Apr
Apr
“The Internet is a worldwide platform for sharing information. It is a community of common interests. No country is immune to such global challenges as cybercrime, hacking, and invasion of privacy” – (Lu Wei, the head of the General Office of the Central Leading Group for Internet Security and Informatization from August 2013 to June […]
26
Apr
Apr
07 May – PAYE submissions and payments 24 May– Value-Added Tax (VAT) manual submissions and payments 30 May – Excise duty payments 31 May – VAT electronic submissions and payments, & Corporate Income Tax (CIT) Provisional Tax payments where applicable. Disclaimer: The information provided herein should not be used or relied on as professional advice. No […]
26
Mar
Mar
“The cold, harsh reality is that we have to balance the budget.” (Michael Bloomberg, former New York City Mayor) Budget shortfalls are not uncommon across the public and private sectors, especially in these economically challenging times. A budget shortfall is a significant concern for any individual or organisation and should be corrected promptly. To address […]
26
Mar
Mar
“Find the right price for an irresistible offer, which, by the way, isn’t necessarily the lower price.” ― (W. Chan Kim, Business strategy advisor and author) A good businessperson pays attention to the price of their products. With accountants by their side, they wisely analyse every expense, tax and logistical possibility to ensure their product […]
26
Mar
Mar
“People are not your most important asset. The right people are.” (Jim Collins, author, speaker and consultant) Knowing whether to hire a freelancer or full-time employee for any particular role is vital for the successful running of a modern business. With budgets constantly being constrained and the pressure to perform going up, ensuring you maximise your […]
26
Mar
Mar
“[The new requirements] enable… a more efficient process to make deductions available to qualifying donor taxpayers and to help prevent section 18A claims abuse.” (SARS) Public benefit organisations (PBOs) are engaged in public benefit activities for example religious institutions, day care centres, disaster relief organisations, health clinics, etc. Many are dependent on donations and, to […]
26
Mar
Mar
05 April – Monthly Pay-As-You-Earn (PAYE) submissions and payments 25 April – VAT manual submissions and payments 29 April – Excise Duty payments 30 April – Value-Added Tax (VAT) electronic submissions and payments & CIT Provisional payments where applicable. Disclaimer: The information provided herein should not be used or relied on as professional advice. No liability […]
“Our bigger challenge… is that our pie is not growing fast enough and this limits our ability to generate sufficient revenues to distribute among our priority areas.” (Finance Minister Enoch Godongwana – Budget 2024) Finance Minister Enoch Godongwana’s third Budget Speech in an election year contained few surprises, but also little in the form of […]
Budget 2024 effectively brought an increase in personal income tax by not adjusting the tables for tax rates, rebates and medical tax credits, while also implementing substantial increases in ‘sin’ taxes and introducing a proposed global tax on multinational companies. This selection of official SARS Tax Tables and other useful resources will help clarify your […]
“It’s far better to buy a wonderful company at a fair price, than a fair company at a wonderful price.”- (Warren Buffett, investor, businessman and philanthropist) When buying a small business there are a number of things that need to be checked before pulling the trigger and signing the contract. Doing proper due diligence will […]
“The only thing worse than training your employees and having them leave is not training them and having them stay.” – (Henry Ford, Founder, Ford Motor Company) In a world where everything seems more expensive today than it was yesterday training and advancement of staff can seem of lesser importance. As an increasing number of […]
07 March – Monthly Pay-As-You-Earn (PAYE) submissions and payments 25 March – VAT manual submissions and payments 27 March – Excise duty payments 28 March – End of the 2023/24 Financial year, Value-Added Tax (VAT) electronic submissions and payments, & CIT Provisional payments where applicable. Disclaimer: The information provided herein should not be used or relied […]
30
Jan
Jan
“Provisional tax is merely a mechanism to pay the normal income tax liability during the tax year… an advance payment of a taxpayer’s normal tax liability.” (SARS) To provisional taxpayers, especially those who are liable for provisional tax in both their personal capacities and as business owners, it may well seem that there are endless […]
30
Jan
Jan
“Never take your eyes off the cash flow because it’s the lifeblood of business” (Sir Richard Branson, entrepreneur, investor, and author) Cash is king, said one anonymous business genius. At the end of the day, it’s having money in the bank that keeps a company running smoothly. According to a recent study by Sibongiseni Selby […]
30
Jan
Jan
“Great things in business are never done by one person. They’re done by a team of people.” (Steve Jobs) There are many benefits to having a great team, and these have been backed up by scientific research around the world. These include, for example: Improved productivity, with thousands of employees noting that having the respect of […]
30
Jan
Jan
“At least 40% of all businesses will die in the next 10 years… if they don’t figure out how to change their entire company to accommodate new technologies.” John Chambers, former CEO of Cisco Systems) Around the boardroom tables of the world, one thing is on every agenda – digital transformation. From global conglomerates to […]
30
Jan
Jan
07 February – Monthly Pay-As-You-Earn (PAYE) submissions and payments 23 February – Value-Added Tax (VAT) manual submissions and payments 28 February – Excise Duty payments 29 February – CIT Provisional Tax payments 29 February – PIT Provisional Tax payments 29 February – Value-Added Tax (VAT) electronic submissions and payments Disclaimer: The information provided herein should not […]
05
Jan
Jan
“The best way to predict the future is to create it.” (Peter Drucker) Facing what may well be another tough year, company owners and managers will be well aware that many of the external challenges will be beyond their control. Fortunately, what remains under your control is how this new year is approached and starting 2024 […]
05
Jan
Jan
“Inflation is bringing us true democracy. For the first time in history, luxuries and necessities are selling at the same price.” (Robert Orben, comedian and writer) Interest rates and inflation are a nasty partnership that can, if managed badly, derail any small to medium enterprise. Their effects are felt in every area of the business […]
05
Jan
Jan
“SARS is willing and ready to assist taxpayers who want to be compliant. Where taxpayers willfully and intentionally ignore their legal obligations, SARS will act sternly.” (SARS Commissioner Edward Kieswetter) Businesses are often required to share their tax compliance status, for example for a tender application, bidding process or prequalification as a supplier; to confirm that […]
05
Jan
Jan
“The way to get started is to quit talking and begin doing.” (Walt Disney) Whether starting a business is your New Year’s resolution or something you have been waiting to do for years, if you are thinking of launching it in January 2024, then you have already made a wise decision. January is a popular […]
05
Jan
Jan
05 January – Monthly Pay-As-You-Earn (PAYE) submissions and payments 24 January – End of Filing Season for Provisional taxpayers 24 January – End of Trusts Filing Season for taxpayers liable for provisional tax 30 January – Excise Duty payments 31 January – Value-Added Tax (VAT) electronic submissions and payments & CIT Provisional payments where applicable. […]
28
Nov
Nov
“A real gift comes attached with ribbons, not strings.” (Raymond C Nolan) Most clients, suppliers and business associates will appreciate a thoughtful gift from your company, and the Festive Season is the most appropriate time to send such a gift. The challenge lies in selecting a gift that conveys genuine intentions to thank the recipients […]
28
Nov
Nov
“Think of giving not as a duty but as a privilege.” (John D. Rockefeller Jr.) Most businesses want to show appreciation to their employees at the end of a long year’s work, and the “Season of Giving” is the ideal time. A thoughtful gift will make any employee feel more recognised and appreciated, and this […]
28
Nov
Nov
“If you do not know where you are going, every road will get you nowhere.” (Henry A. Kissinger) Creating a business plan is one of the most important processes when running a business. It is the roadmap for the success of any business and should include everything from cash flow planning to expansion strategies and […]
28
Nov
Nov
“No man has a good enough memory to be a successful liar” – Abraham Lincoln, President of the United States of America, 1861-1865 In a recent survey conducted by StandOutCV more than 50% of Americans admitted to lying on their CV. It’s a staggering number, and something that is taking place in a country where […]
28
Nov
Nov
7 December – Monthly Pay-As-You-Earn (PAYE) submissions and payments 28 December – Excise Duty payments 29 December – End of 3rd Financial Quarter 29 December – Value-Added Tax (VAT) electronic submissions and payments & CIT Provisional payments where applicable. Disclaimer: The information provided herein should not be used or relied on as professional advice. No liability […]
27
Oct
Oct
“Always treat your employees exactly as you want them to treat your best customers.” (Stephen R. Covey, author of The Seven Habits of Highly Effective People) Small businesses often lose their talent to large companies simply because they can’t afford the kinds of salaries and incentives on offer at a global corporate. Keeping staff happy […]
27
Oct
Oct
“…imposing administrative non-compliance penalties is to ensure the widest possible compliance with the provisions of a Tax Act … they are imposed impartially, consistently and proportionately to the seriousness and duration of the non-compliance.” (SARS) The Tax Administration Act stipulates that SARS can issue administrative penalties for outstanding tax returns. In previous years, penalties were only imposed […]
27
Oct
Oct
“There are only two things in a business that make money – innovation and marketing, everything else is cost” (Peter Drucker, author) Running a business is never cheap and starting one up may be one of the most expensive things you ever do. According to the U.S. Small Business Administration, most microbusinesses cost around R60 […]
27
Oct
Oct
“The importance of the ability of taxpayers to challenge the legality of actions and decisions within the tax system is internationally recognised.” (Taxpayers’ Rights: Theory, Origin and Implementation) In South Africa, taxpayers have the right to dispute tax assessments, interest, late payment penalties, and administrative penalties for various taxes, including Personal Income Tax (PIT), Corporate Income […]
27
Oct
Oct
7 November – Monthly Pay-As-You-Earn (PAYE) submissions and payments 29 November – Excise Duty payments 30 November – Value-Added Tax (VAT) electronic submissions and payments & CIT Provisional payments where applicable. Disclaimer: The information provided herein should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions […]
27
Sep
Sep
“The common assumption is that trusts are some kind of tax panacea…Then, conversely, from a South African Revenue Service (SARS) perspective, trusts are viewed with a degree of suspicion and mistrust. [T]he truth lies somewhere between these positions.” (Broomberg on Tax Strategy) The legal and tax landscape in which South African trusts operate has changed […]
27
Sep
Sep
“Growth is never by mere chance; it is the result of forces working together” – (James Cash Penney, Founder of JCPenney) Every business decision carries profound consequences for the enduring existence of the organisation, and this is no more true than when it is applied to those decisions affecting business growth. Knowing how and when […]
27
Sep
Sep
“We need to do a better job of putting ourselves higher on our own ‘to-do’ list.” (Michelle Obama, former First Lady of the United States) The four-day work week has been in the news a lot recently with a number of significant studies and trials coming out in favour of the arrangement. While many would assume […]
27
Sep
Sep
“The bottom line is that cyber risks sit right alongside rising systemic risks, and is the biggest emerging, and constantly evolving risk facing businesses today.” (SHA Specialist Risk Review 2022) In Africa, Interpol has identified phishing – particularly Business Email Compromise (BEC) – as well as online scams, as both the biggest current crime threats, […]
27
Sep
Sep
6 October – Monthly Pay-As-You-Earn (PAYE) submissions and payments 30 October – Excise Duty payments 31 October – Value-Added Tax (VAT) electronic submissions and payments & CIT Provisional payments where applicable. Disclaimer: The information provided herein should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions […]
29
Aug
Aug
“Don’t be fearful of risks. Understand them, and manage and minimize them to an acceptable level.” (Naved Abdali, Financial journalist and author) Managing risk in your business is absolutely critical for developing it to success. Knowing exactly which threats are really relevant and which will help any leader to develop strategy and prepare for the […]
29
Aug
Aug
“The difference between tax avoidance and tax evasion is the thickness of a prison wall.” (Denis Healey, former British prime minister) Section 234 in Chapter 17 of the Tax Administration Act (TAA) sets out a list of criminal tax offences. If prosecuted and convicted of a tax criminal offence, taxpayers will – at the least […]
29
Aug
Aug
“Any taxpayer can be selected by SARS for verification for the purpose of proper administration of tax, including on a risk basis.” (SARS) Companies must, within 12 months of their financial year-end, submit to SARS an Income Tax Return for Companies (ITR14), as well as supporting documents, declaring their full income tax responsibility to SARS. This declaration, return and […]
29
Aug
Aug
“Quiet quitting” isn’t laziness…When they don’t feel cared about, people eventually stop caring. If you want them to go the extra mile, start with meaningful work, respect, and fair pay.” – (Adam Grant, organizational psychologist and speaker) The idea of the recently acknowledged trend of quiet quitting is not really new at all. Some people […]
29
Aug
Aug
7 September – Monthly Pay-As-You-Earn (PAYE) submissions and payments 28 September – Excise Duty payments 29 September – End of the 2nd Financial Quarter, Value-Added Tax (VAT) electronic submissions and payments, CIT Provisional payments where applicable. Disclaimer: The information provided herein should not be used or relied on as professional advice. No liability can be accepted for […]
27
Jul
Jul
“The submission of accurate personal income tax returns on time is important for a seamless filing season. Taxpayers must take control of their own tax affairs to ensure they are aware of their obligations and remain compliant.” (SARS Commissioner Edward Kieswetter) SARS recently announced the dates and changes for the 2023 Tax Season, which opened on […]
27
Jul
Jul
“The value of a business is a function of how well the financial capital and intellectual capital are managed by human capital.” (Dave Bookbinder, author) There are a lot of factors that go into working out the true cost of an employee. According to the US Small Business Administration, employees really cost between 1.25 and 1.4 […]
27
Jul
Jul
“Borrowing isn’t inherently bad; it depends a lot on what the debt is financing” (Stephen Moore, writer and economic commentator) Taking on debt can be a good thing for a company. It can fund expansions, help you seize market share or diversify offerings. Handled incorrectly it can, however, lead to severe problems that could ultimately […]
27
Jul
Jul
“The backbone of any successful phishing attack is a well-designed spoofed email or spoofed website, which is why it pays to have a healthy level of scepticism when it comes to opening emails and visiting websites.” (Phishing.org) With Tax Season 2023 upon us, expect an upsurge in scam emails, seemingly from SARS but actually clever […]
27
Jul
Jul
7 August – Monthly Pay-As-You-Earn (PAYE) submissions and payments 30 August – Excise Duty payments 31 August – Value-Added Tax (VAT) electronic submissions and payments, CIT Provisional payments where applicable, first provisional tax payment (individuals). Disclaimer: The information provided herein should not be used or relied on as professional advice. No liability can be accepted for […]
27
Jul
Jul
7 August – Monthly Pay-As-You-Earn (PAYE) submissions and payments 30 August – Excise Duty payments 31 August – Value-Added Tax (VAT) electronic submissions and payments, CIT Provisional payments where applicable, first provisional tax payment (individuals). Disclaimer: The information provided herein should not be used or relied on as professional advice. No liability can be accepted for […]
28
Jun
Jun
“If you talk to a top accountant about his field of expertise, it’s mind-boggling.” (Vincent Kompany, professional football manager and former player) Accountants are the tax and compliance champions of any industry, but the best ones do so much more for their clients, as strategic advisors and trouble-shooters who can also assist with automating a […]
28
Jun
Jun
“The lack of adequate, accurate and up-to-date beneficial ownership information facilitates money laundering and terrorist financing by allowing criminals to hide their true identities, and the true purpose and/or source or use of funds.” (Financial Intelligence Centre – FIC) South Africa’s grey listing by the Financial Action Task Force (FATF) earlier this year and the […]
28
Jun
Jun
“Eskom plays a critical role in the life of South Africa, and life of South Africans. Due to its important role in the economy, its inability to provide electricity on demand and on time is a crisis.” (President Cyril Ramaphosa) The South African Reserve Bank’s Financial Sector Contingency Forum (FSCF) has recently encouraged South African […]
28
Jun
Jun
“Confidentiality of taxpayer information has always been a fundamental cornerstone of tax systems… taxpayers need to have confidence that the often-sensitive financial information is not disclosed inappropriately, whether intentionally or by accident.” (Organisation for Economic Co-operation and Development – OECD) The confidentiality of taxpayers’ information has recently come under the spotlight in South Africa. This […]
28
Jun
Jun
7 July – Monthly Pay-As-You-Earn (PAYE) submissions and payments 28 July – Excise Duty payments 31 July – Value-Added Tax (VAT) electronic submissions and payments & CIT Provisional payments where applicable. Disclaimer: The information provided herein should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions […]
29
May
May
“The amount of work we can automate with AI is vastly larger than before. As leaders, it is incumbent on all of us to make sure we are building a world in which every individual has an opportunity to thrive.” (Andrew Ng, Co-founder and lead of Google Brain) Artificial Intelligence has come a long way […]
29
May
May
“A trustee has a responsibility to guard the assets of others with a higher degree of care than he does his own.” (John Ashcroft) Onerous new duties have recently been imposed on all trustees of all trusts – by government through legislative amendments, and also by SARS – in addition to their existing fiduciary duty […]
29
May
May
“The difference between successful people and really successful people is that really successful people say no to almost everything.” (Warren Buffet, Investor) Anyone who has ever started a business knows the feeling a new enquiry can generate. The excitement that things seem to be working, may make the new entrepreneur set aside their concerns and […]
29
May
May
“The government expects that, by encouraging companies to undertake R&D in South Africa, local companies will strengthen their capabilities of developing value-added products, technologies and services.” (Department of Science and Innovation (DSI) – South Africa) Research and development (R&D) is essential to boost innovation in the business sector, as it improves the capability to develop […]
29
May
May
Disclaimer: The information provided herein should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your professional adviser for specific and detailed advice. © CA(SA)DotNews
25
Apr
Apr
“The lack of reliable electricity supply is the biggest economic constraint… I am pleased to announce two tax measures to encourage businesses and individuals to invest in renewable energy and increase electricity generation.”(Finance Minister Enoch Godongwana – Budget 2023) In the 2023 Budget, the lack of a reliable electricity supply was highlighted as the country’s […]
25
Apr
Apr
“Always treat your employees exactly as you want them to treat your best customers.” (Stephen R. Covey) Gallup describes “engaged employees” as those who are involved in, enthusiastic about, and committed to their work and workplace. Numerous studies over many decades have confirmed the benefits of engaged employees especially to smaller companies, where they are […]
25
Apr
Apr
“A house built on granite and strong foundations, not even the onslaught of pouring rain, gushing torrents and strong winds will be able to pull down.” (Haile Selassie, Former Emperor of Ethiopia) When starting a new business, few things are as important as establishing your finances and making sure they are right. Building the foundation […]
25
Apr
Apr
“In 2022 South Africa had the 12th highest income tax burden, the 9th highest company income tax burden, and the 14th highest non-resource tax burden worldwide.” (Garth Zietsman, South Africa’s Tax Freedom Day statistician) Tax Freedom Day marks the day in the year when South Africans stop giving all their money to their government for the year and […]