A Clearer Path Toward Stability, Growth and Investment South Africa’s economic outlook took a more confident turn today as Finance Minister Enoch Godongwana presented the 2025 Medium Term Budget Policy Statement in Cape Town. The statement outlined a plan to strengthen public finances, improve service delivery and stimulate private sector investment. The overall tone of […]
South Africa’s 2025 Medium Term Budget Read More »
Every organisation that holds personal information carries a responsibility that extends far beyond its own systems. How that information is protected, shared, and used reflects not only legal compliance but also the values and discipline of the business itself. The Protection of Personal Information Act, known as POPIA, places this responsibility at the centre of
POPIA Compliance in a Global Context Read More »
Understanding Beneficial Ownership A beneficial owner is the individual (natural person) who ultimately owns, controls, or benefits from an entity’s operations or assets. This may include someone who holds shares directly or indirectly through another entity or a trust. It is important to note that a beneficial owner must always be a natural person, not
Beneficial Ownership and Corporate Transparency in South Africa Read More »
A Closer Look at the Challenge For many years, South African legal and fiduciary professionals have encountered ongoing challenges in their interactions with the Master’s Office. These backlogs have become increasingly severe, now affecting estates, trusts, and related fiduciary matters across the country. The difficulties stem from a combination of administrative inefficiencies, legacy systems, and
Master’s Office Processing Delays Read More »
To successfully deduct an expense, there must be a link to earning taxable income. Section 11(a) of the Income Tax Act, the so-called ‘general deduction formula’, seems to have produced more court cases than virtually any other Section of the Act. And each time, the courts tell us the same thing: In order for you
Expenses Must Be Intended to Produce Taxable Income Read More »
Managing payroll for freelance workers involves a few key points, including understanding legal requirements, setting clear payment structures, and using the right tools. Here’s a practical overview to help businesses handle freelance payroll effectively. Legal Obligations Freelancers are generally considered independent contractors, but businesses still have some legal responsibilities. 1. Tax Obligations Freelancers are responsible
Handling Payroll for Freelance Workers in South Africa Read More »
Back in the day when I was still running my tax practice full-time, I was called upon by a client to assist with the tax and accounting treatment of taxes withheld by a foreign country from income earned in that country—in this particular case, Botswana. The client’s query centred on the following two issues: Claiming
Claiming Foreign Tax Credits Read More »
Under the amended legislative framework, members of a close corporation are now required to prepare annual financial statements (AFS) within six months after the financial year-end. This timeline was shortened from the previous nine-month period due to the incorporation of relevant provisions from the Companies Act into the Close Corporations Act 69 of 1984. Section
These common PAYE errors could cost you dearly with SARS. With SARS continually seeking to increase its revenues however it can, organisations with misconceptions about how certain payroll elements should be taxed may unknowingly be exposing themselves financially. We often come across the following top five payroll errors that organisations need to question and correct
Five Expensive Payroll Errors Read More »
Navigating the rules and regulations for short-term letting. With short-term letting and (more specifically) Airbnbs ramping up in South Africa, disgruntled owners and tenants are voicing their concerns when it comes to short-term letting properties contained in complexes, estates, and apartment blocks. While freehold property owners can act freely, sectional title property owners are bound
Airbnb and Sectional Title Regulations Read More »
