Trading stock sold under a contract requiring full or partial payment for ownership to transfer falls under section 24. Section 24 taxes the full amount upfront and grants the taxpayer a debtors’ allowance deduction, resulting in a cash flow basis of taxation. Section 24 was amended to specify that the relief also applies to lay-by…
Technology is rapidly evolving, and artificial intelligence (AI) is transforming the way we work and communicate. Auditors need to be aware of the digital technology tools that are currently available and how to use them as part of the audit process to make the audit process more efficient and effective. This requires that the auditors…
In 2022, Municipal IQ recorded 193 service delivery protests. This is a powerful statement made by South Africans whose quality of life has been diminished by their municipalities’ inaction, and it is the plight of these individuals that motivates Shabeer Khan, the Accountant-General of South Africa. Shabeer explains that one of his primary responsibilities as…
Founded on the values of respect and integrity, Motlanalo Inc, a black women-owned SMP headquartered in Polokwane, Limpopo, is geared towards transforming the audit landscape. In reliving the events around the genesis of her firm, Koko Khumalo CA(SA) entertains an erudite conversation on learning organisations, a branch of study associated with knowledge management. The CEO…
Mpho Lebethe has combined her passion for entrepreneurship with an equally fierce enthusiasm for upliftment, forging a career path that ensures others rise as she does. ‘My grandparents raised me with the belief that even if you only have R100, you can still share R50 with those who have less than you,’ says Mpho. It’s…
In post-apartheid South Africa, transformation has largely remained an elusive concept. Yet, the accounting sector has emerged as an outlier – with the University of Johannesburg (UJ) leading the charge. Here, transformation refers to the deliberate and comprehensive process of addressing the historical imbalances, injustices, and inequalities that were entrenched during apartheid. Transformation continues to…
As business owners, we often find ourselves basking in the glow of success during prosperous times, putting aside our contingency plans, and allowing complacency to settle in. It’s easy to assume that the sun will keep shining – until it doesn’t. In business, we must expect and be prepared for the unexpected. How does your…
Emma Mashilwane CA(SA), RA, MBA is the co-founder (majority shareholder) and CEO of MASA Auditors which provides internal audits, external audits, IT audits and advisory services. MASA Auditors comprises MASA Risk Advisory Services Pty Ltd (MASA Risk) and MASA Chartered Accountants Incorporated. Both entities are accredited training offices for SAICA (MASA Risk is for the…
The Volvo XC40 P6 has been meticulously crafted to provide drivers with a journey like no other. It’s not just a car, it’s a glimpse into the future of mobility where technology and elegance converge to create driving perfection. Specifications Engine: Electric POWER: 170 Kw TORQUE: 330 Nm 0–100 KM/H: 7,4 seconds PRICE From: R1…
Here’s a shocking statistic: around 46% of South Africa’s youth are unemployed. That’s not only an economic disaster; it’s a social one, too – which is why Kasthuri Soni, CEO of Harambee Youth Employment Accelerator, is determined to help find solutions; a goal her organisation is achieving by working with an ecosystem of other change…