Category: Tax Tips & Advice For You & Your Business

Important Reminder: SARS Income Tax Deadline For 2023

As we approach the end of the financial year, we would like to ensure that you are well-informed about the upcoming deadlines for filing your income tax returns with the South African Revenue Service (SARS). Deadline for Individual Taxpayers (Non-Provisional): October 23, 2023 For individual taxpayers who are not on the provisional tax system, please be reminded…

Why You Need to Outsource Your Bookkeeping to PATC

Maintaining accurate and up-to-date financial records is a crucial aspect of running a successful business.  Bookkeeping is the process of recording all financial transactions, including purchases, sales, payments, and receipts.  It is essential to have good bookkeeping services to ensure that your business finances are well-organised, accurate, and compliant with legal requirements. PATC’s bookkeeping services…

The Benefits of PATC’s Remote Accounting Services

The benefits of PATC’s remote accounting services continues to grow and adapt as the world gears towards a more remote working environment. In recent years remote accounting services have revolutionised the accounting industry as the world has witnessed a tremendous shift in the way businesses operate, thanks to technological advancements. The accounting industry has embraced…

Gavin Bacon Reappointed as Tax Court Member

Tax Court Member Reappointment Professional Accountants and Tax Consultants (PATC) is proud to announce the reappointment of Gavin Bacon as an accountant member of the Tax Court of South Africa. This prestigious appointment was recently made on the 4th of January 2023. Gavin is no stranger to the Tax Court having been a previous Commercial…

Working From Home and Tax Implications

While working remotely has become a norm for many companies it does come with certain complications such as a scattered workforce and its various tax implications. While many offices are equipped to help employees work efficiently, working from home for long periods of time can become challenging, the need for equipment and supplies therefore becomes…

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