Securing your business’s future: FICA compliance in South Africa made simple
Securing your business’s future: FICA compliance in South Africa made simple To thrive in South Africa’s ever-changing economic landscape, it is crucial to have a thorough understanding of your regulatory responsibilities, including compliance with the Financial Intelligence Centre Act (FICA). Recognised not just as an additional requirement to your current protocols, but rather as […]
A dive into South Africa’s revised assessed losses regulations
A dive into South Africa’s revised assessed losses regulations Navigating the complex world of corporate finance and tax regulations can be challenging for businesses. South Africa has recently undergone significant changes in its tax landscape, including limits on assessed losses and adjustments to corporate income tax rates. To stay informed, adaptable, and compliant, companies […]
Maximising your dividend income
You could improve your return by selling the share instead of waiting for the dividend payout but there are caveats. I was recently asked an interesting question about dividends. The person concerned was curious as to whether from a tax and return perspective it is better to take the dividend itself, or sell the share […]
Finding someone to step into your shoes: Succession planning for your business
The Eskom crisis demonstrates again the importance of proper succession planning IoDSA. The current crisis at Eskom has a number of governance lessons for South Africa one of which is the vital importance of proper succession planning for key senior positions. The imminent departure of both the chief executive (CEO) and chief operating officers (COO) […]
Does it matter in which country you set up shop?
Many people who own business face a frustrating fate every year when the tax man comes a-knocking, as a large portion of their profit is taxed by the South African Revenue Service (SARS). Not only that, but businesses who trade internationally take the brunt of the burden for exchange rate conversions that further diminish their potential revenue. […]
Why it’s time for your business to go green
As the risks of climate change become more intense and prevalent in today’s world, businesses are feeling the pressure to adapt and rethink their business models, making sure they align with the needs of clients, employees, as well as the environment. The Main Advantages of a Green Office Why should you invest in a greener […]
Why bigger isn’t better in business
In the world of business, your earnings can make a large difference between getting investors to invest in your business and being completely overlooked. Many business owners think that the more money they bring in, the more likely it is that investors will show interest. This is true to some extent, but in actuality, thinking […]
7 questions that can make or break contracts
Your business success relies on your interaction with clients/customers and other businesses. Your profit is directly proportional to the behaviour of these external role-players. Dealing with individual clients/customers does come with some risk – especially if you offer a line of credit. However, your agreements with other businesses, in which greater risk and sums are applicable, you cannot afford to take a wrong […]
Should you pay tax on refundable deposits?
The South African Revenue Service recently published a new Interpretation Note relating to the taxation of deposits. In the ordinary course of business, taxpayers may receive money in advance in the form of deposits related to goods or services to be delivered or rendered at a future date. Having regard to the definition of “gross income”, […]
Ways to grow your business as a sole proprietor
Running a business as a sole proprietor, especially in a highly volatile economy, is a momentous task. You started your business because you believed that, at least to some extent, you could make the world a better place and provide a service/product that would benefit others. Unfortunately, running a business is about more than just owning your area of […]