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Credit Amnesty – Started 1 April 2014

The updated Credit Amnesty allows consumers who are listed on the credit bureaus with relevant negative information to have this information removed from the records of the credit bureaus, as from the 1st of April 2014 and completely removed by the 1st June 2014, in accordance with Regulation 2 (b). Regulation 2 (b): A registered…

South Africa’s Budget Speech 2014

Gavin Bacon, Owner of PATC

This year’s budget speech took place on the 26th of February 2014 and took various factors from previous years into consideration in order to formulate a clear plan for the future. Minister Pravin Gordhan acknowledged South Africa’s achievement in the last five years in light of the economic recession but emphasised that there is still…

Domestic Workers

domestic workers

What exactly are the rules and regulations regarding domestic workers? Approximately 1 to 1.5 million South Africans work as domestic workers, gardeners and child minders. These days, there are far more rules and regulations regarding domestic worker than in the past. In present day, they are now considered regular workers just like a chartered accountant,…

SARS Is Strict About Record-Keeping

Get it wrong and you could face massive penalties! …of up to 200%. By LAW,  taxpayers (Companies and Individuals) are required to keep certain tax records for 5 years, however SARS urges us – as consultants, to keep records for 7 years. If you don’t know which documents and records SARS requires you to keep,…

What is SARS eFiling?

eFiling is a simple and secure online process for the submission of returns and declarations and other related services. This service allows taxpayers, tax practitioners and businesses to register and submit returns and declarations make payments in respect of taxes, duties, levies and contributions and perform a number of other interactions with SARS in a…

How to Select a Professional Accountant

Every business or company has different financial requirements and it is important to select an accounting service based on these criteria. A new or small business entity may need some financial planning advice as well as bookkeeping and tax returns filed. An established business may be looking to grow their business and therefore wanting a…

Why Do Small Businesses Need An Accountant?

It is essential for small businesses to employ the services of a professional accountant who will always be on top of the changing laws and regulations and, more importantly, will know what applies to your company. Accountants offer an in-house accounting service so you as a business owner can focus on managing and building your…