“People who complain about taxes can be divided into two classes: men and women.” (Unknown) The assessed loss rules have always allowed companies to deduct from their taxable income each year any assessed losses from previous years. The remaining assessed loss balances could be carried forward indefinitely. This meant that a company would only pay… Continue reading How the New Assessed Loss Tax Limitation Works
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Budget 2023: The Minister of Finance Wants to Hear from You!
“Finally, we pay tribute to the millions of South Africans, whose resilience and courage during these times of pandemic and economic hardship, is an inspiration to all of us who have the privilege to serve in the public sector.” (From the 2022 Budget Speech) Finance Minister Enoch Godongwana has invited the public to share suggestions… Continue reading Budget 2023: The Minister of Finance Wants to Hear from You!
Your Tax Deadlines for February 2023
7 February – Monthly Pay-As-You-Earn (PAYE) submissions and payments 27 February – Excise Duty payments 28 February – Value-Added Tax (VAT) electronic submissions and payments & CIT Provisional payments where applicable. Disclaimer: The information provided herein should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions… Continue reading Your Tax Deadlines for February 2023
Start 2023 Strong with the “Fresh Start Effect”
“We change our tools and then our tools change us.” (Jeff Bezos) Every January, individuals and businesses have an opportunity to take advantage of what is called the “Fresh Start Effect” – referring to research evidence that shows people are more likely to make positive changes at times that mark the start of a new… Continue reading Start 2023 Strong with the “Fresh Start Effect”
The Financial Steps You Need to Take Before You Open Your New Business
Good fortune is what happens when opportunity meets planning, – Thomas Edison You have your idea, you have your mission statement and perhaps you even have an idea of who your first customers will be, but there are still a few things you should consider doing before you launch your company. When it comes to… Continue reading The Financial Steps You Need to Take Before You Open Your New Business
The Importance of Maintaining Your Tax Compliance Status in 2023
“Being tax compliant… is not just good for you, but also contributes to the positive growth of our country’s economy which in turn benefits all South Africans.” (SARS) Businesses are often required to provide, confirm or share tax clearance information to another entity. This is because proof of tax compliance is an indicator of a… Continue reading The Importance of Maintaining Your Tax Compliance Status in 2023
How to Know if You Need an Office for Your Business (and How to Make the Most of a Lease if You Do)
“In business, you don’t get what you deserve, you get what you negotiate,” Chester Karrass, Founder of Seminar group Karrass. At some point, around halfway through the pandemic, experts began to whisper that office space was dead. “No one will be using an office by 2023,” they said. And yet, while it’s true that office… Continue reading How to Know if You Need an Office for Your Business (and How to Make the Most of a Lease if You Do)
Your Tax Deadlines for January 2023
Disclaimer: The information provided herein should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your professional adviser for specific and detailed advice. © CA(SA)DotNews
The Why and the How of Annual Price Increases
“Pricing power is important in business. You want your business to have the ability to raise prices as needed, especially with regard to inflation.” (Hendrith Vanlon Smith Jr) It is imperative that businesses increase their fees, rates or product prices annually by at least the rate of inflation, just to keep pace with the ongoing… Continue reading The Why and the How of Annual Price Increases
Simple Communication Tips to Boost Your Profitability
“Communication is a skill that you can learn. It’s like riding a bicycle or typing. If you’re willing to work at it, you can rapidly improve the quality of every part of your life.” (American business speaker Brian Tracy) Successful communication can be the difference between a profitable business and a failing one. Leaders who… Continue reading Simple Communication Tips to Boost Your Profitability