Don’t spend on unnecessary insurance and grow your own insurance fund investments. Let me start by saying that this piece is not about a stokvel. While the principles might be similar, I can’t say I have family and friends that I trust enough. However, if you do live in a community where you are able…
Clarifying how and when VAT becomes applicable to a new VAT vendor. SAICA members often request guidance relating to the Value-Added Tax (VAT) consequences once a person has been registered by SARS as a vendor. This guidance required is not related to the fact that the person now will have to levy the tax and…
Anti-avoidance versus trade stimulation. Is government biting the hand that feeds? Has the hand that feeds been cut off…? It would seem so when reading the headlines on current tax news and amendments. Tax policy has an opportunity to be instrumental in supporting economic and fiscal objectives that South Africa needs to achieve. However, the…
South Africa’s innovative carbon tax structure wins global favour. A lot has been said about the introduction of a carbon tax to the South African economy. It is difficult to maintain a clear head amidst all the noise, so one needs to go back to the fundamentals from time to time. This article takes a…
Two court judgements illustrate why it’s almost always best to settle out of court. As a member of the tax court, I have learnt to accept that there is wisdom in the proverb “a bad settlement is better than a good judgement”. A number of tax disputes are decided by the courts of law because…
A functional, ethical and skilled South African public sector is vital for positive and lasting change. The Tax Administration Act, No 28 of 2011 (the TAA) took effect on 1 October 2012, and seeks to enhance the rights that taxpayers have in their dealings with the South African Revenue Service (SARS). Previously, for example, a…
Read Accountancy SA on your tablet You’ve requested that we develop a tool through which you can read and store previous issues of Accountancy SA in a library on your tablet. We are happy to share with you how to do it. If you want to download the Digital Magazine to your iPad or Android…
OFFSHORE INVESTMENT in the spotlight As governments target offshore structures for tax avoidance, their other advantages come to the fore. Offshore structures. There was a time when South Africans who didn’t have them, wanted them, and when those who did, couldn’t talk about it. In recent years, however, more relaxed exchange controls allow greater flexibility…
Financial statements The frustration continues… As part of their research and teaching activities, many accounting academics spend a lot of time poring over published financial statements. Strangely, some of them find this work fascinating. To most people, an enthusiasm for reading accounting reports is about as comprehensible as, say, an infatuation with spoon collecting. But…
20 fastest growing global companies Company Earnings growth Revenue Growth Total Return 1 Silver Wheaton 340% 76% 49% 2 Cirrus Logic 450% 39% 88% 3 Baidu 99% 72% 56% 4 HollyFrontier 93% 51% 64% 5 HFF 341% 41% 53% 6 lululemon athletica 81% 45% 109% 7 Northern Oil and Gas 122% 237% 36% 8 Apple…