In terms of the VAT Act, when an agent makes a supply of goods or services for and on behalf of its principal with a third party, the supply is deemed to be made by the principal and not by the agent. The following example in SARS VAT 409 – Guide explains the VAT mechanics…
Aston Martin N430 Special Edition Audi TT BMW X6 M50D McLaren 650S Aston Martin N430 Special Edition Every man growing up at some stage wished he had owned an Aston Martin. This is a lot to do with the Aston Martin being closely associated with James Bond. An ordinary guy with the most extraordinary…
People have begun to treat their general ledgers like an all-purpose tool; but just because it can be used to do something doesn’t mean it should be. Although the general ledger has the ability to house both financial and non-financial information, it is a financial document. The general information that it was created for, was…
Last month, we discussed framing. This is not necessarily a psychological bias, it’s just the way we make sense of the world. The problem with framing, though, is that most people don’t even know when it’s happening. We might think that we are able to frame decisions in different ways to assist our decision-making, but…
What a B-BBEE rollercoaster year this has been! With the generic amended codes becoming effective on 1 May 2015, various clarification notices issued (and revoked) by the Department of Trade and Industry, thought-provoking statements made in Parliament and endless conflicting media reports, I honestly don’t blame many business owners for feeling overwhelmed by now –…
Tax is an ever-changing environment and the many intricacies and complications in tax legislation and administration no doubt give many members sleepless nights. This feature seeks to highlight challenges and changes on the tax horizon from the point of view of those taking the lead in tax Withholding tax on services Responsible tax for the…
Imagine owning a musical instrument valued at $4,5 million – would you not treat this with care? As a speaker, your vocal box and credibility should be cared for just as much. If you are too sick to speak, your best option would be either to postpone the talk or find a replacement. But what…
The rand is ‘getting caned’ amid fears after record low – Business Day US stocks plummet amid global rout – Bloomberg Global markets plunge – Financial Times Hysterical headlines like these may have unnerved you, but keeping your long-term goal in mind will help you stay the course. These won’t be the last headlines like…
Too many boards today are filled with generalist independent directors. Most likely members are drawn from the company’s home country, have similar career backgrounds, and are overwhelmingly male. Companies wanting considerable growth need to examine whether their boards and leadership really have the range of experience, perspectives and expertise to master and thrive in the…
Mindset, rather than circumstances or situations, will propel clerks into positions where they can excel and shape their futures. Angella Makowe and Martin Mutonhora give their impressions of this year’s Young Chartered Accountants Network seminar. There was a dull nervous murmur in the venue and the audience, eager with anticipation, rushed to their seats to…