Category: Tax Tips & Advice For You & Your Business

Termination of an Employee Contract

Notice of termination of an employee contract must be given in writing. If an employee who receives notice of termination is not able to understand it, the notice must be explained orally by employer/representative to the employee in an official language the employee reasonably understands. Notice of termination of a contract of employment given by…

What is an appeal to SARS?

What is an appeal to SARS? If you do not agree with SARS after you did an objection, you have the right to appeal to the decision. The appeal needs to be lodged with SARS within 30 business days after SARS delivered the notice of disallowance or partial allowance of the objection. This period may…

Personal Taxation on Cryptocurrency

Understanding personal taxation and cryptocurrency Q: What info is required to be submitted to SARS regarding Cryptocurrency transactions and in what format? A: You will need to treat it like transactions and keep a detailed report of all your transactions. For example: the date you purchased cryptocurrency, the cost amount spent on the asset, the…

Understanding the Principles of ISQC 1

Business meeting

The objective of the firm is to establish and maintain a system of quality control to provide it with reasonable assurance that: The firm and its personnel comply with professional standards and applicable legal and regulatory requirements; and Reports issued by the firm or engagement partners are appropriate in the circumstances.

Last Will & Testament Signature Instructions

a close up photograph of a person signing a document

Thank you for letting us draft your Will! Signature Instructions Please carefully read the below lockdown and post lockdown instructions and procedures to avoid unnecessary errors which may cause your Will to be invalid. A. Introduction: Requirements of a Will

Shareholders Agreement: Do I Need One, & Why?

What Is a Shareholders Agreement? A shareholders agreement is an agreement between the owners of a company setting out how they are going to run the company together. Now Read Debt Relief Finance Scheme: SMME Development Dept.

Understanding COVID-19 Funding & How PATC Can Help You

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Here is a comprehensive list of the various funding schemes and grants that you can take advantage of. The role PATC will play: Only after you have gone through this list yourself, they must highlight to us which they think they might be able to benefit from. a. The list specifies what criteria you will…

Debt Relief Finance Scheme: SMME Development Dept.

the application process for debt relief

Kindly Note: This is a LOAN. It is NOT a ‘free’ Grant. If applied for and offered, the loan repayment will be favourable and interest rates as low a prime less 5%, however it is a loan. Small businesses (under R50m turnover) who are negatively affected are entitled to get assistance from the DSBD website….

PATC’s Coronavirus Management Plan

Corona Virus molecules

1.       DO NOT PANIC Avoid physical contact with other staff members and clients. Do not touch your face – use a tissue if you have to or toilet paper and then throw it in the dustbin. Recommend to clients that they either email or call or facetime or skype. Do not refuse a meeting, but…

Company Records

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PATC defines company records as any documents, accounts, books, writing, records or other information that a company is required to keep in terms of the Companies Act 71 of 2008, or any other public regulations. The Companies Act states in Section 24 that records should be retained in writing or in a form that can…