Have you heard of SAFT? It is an interest free loan: “The South African Future Trust (SAFT) was set up by Nicky and Jonathan Oppenheimer as result of the COVID-19 pandemic. The aim of SAFT is to provide interest-free loans to qualifying SMMEs, exclusively for the purpose of paying a specified amount of money to…
Author: Gavin Bacon
PATC Closure 2018
Closed on the 14th December 2018 from 12.00 for our Christmas function We will be closing at midday on the 21st December 2018 until Monday the 7th January 2019 for our Annual December Shutdown We take this opportunity to wish all our clients, friends and colleagues a joyous, festive and happy holidays. May Christmas bring…
Easter Festivities
CLIENTS/STAKEHOLDERS MEETINGS – RECORDING AND AUTHORISATION OF AGENDAS AND MINUTES
The agenda of the Annual General Meeting (AGM) will depend on the legal structure of the organisation, how actively it has been operating over the past year and how much engagement the board is seeking from the owners. A basic agenda might include a. Minutes from the last Meeting b. Appointment of a new Trustee…
PATC Closure 2017
OFFICE CLOSURE: PLEASE NOTE THAT OUR OFFICES WILL BE CLOSED FROM THE 22nd DECEMBER 2017 FOR OUR ANNUAL SHUTDOWN AND WE WILL RE-OPEN ON THE 8th JANUARY 2018. WE WISH YOU ALL A MERRY CHRISTMAS, A FABULOUS FESTIVE SEASON & EVERYTHING OF THE BEST FOR THE NEW YEAR Kindly ensure that you contact us way before the…
SAIPA – National Conference in Cape Town
Gavin has recently attended the National Conference in Cape Town which was from the 19th to 21st Oct. Introduction: Surviving Beyond the Numbers SAIPA holds a National Conference every five years, giving members and stakeholders in the accounting industry the opportunity to come together and network, share knowledge and hear about updates in the industry. Click…
Income Tax Return 2017 Deadline
The deadline dates are as follows: 22 September 2017 for manually submitted returns; 24 November 2017 for returns submitted electronically at a SARS branch or via e-filling; or. 31 January 2018 for returns submitted by provisional taxpayers via e-filling. (remember the deadline of 31.1.2018 is only applicable for Provisional Taxpayers who are 100% up to date with everything) http://www.sars.gov.za/TaxTypes/PIT/Tax-Season/Pages/default.aspx http://www.pkf.co.za/news/2017/submit-your-2017-income-tax-return-submityourreturn-avoidpenalties/
Fringe benefits – Right of use of motor vehicle
Meaning: A taxable benefit shall be deemed to have been granted where an employee is granted the right of use of any motor vehicle for private or domestic purposes. Click here to read the full article
TAX INVOICES
South Africa operates a VAT system whereby businesses (vendors) are allowed to deduct the VAT incurred on business expenses (input tax) from the VAT collected on the supplies made by the business (output tax). The most important document in such a system is the tax invoice. Without a proper tax invoice, a business cannot deduct…
Nedbank’s regulatory reporting requirements with regard to Common Reporting Standards
This is new regulations – kindly take note.