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SARS EMP501 Interim Submission – August 2023 period

SARS EMP501 Interim Submission – August 2023 period

The Bi-annual August 2023 PAYE reconciliation period is from 18 September 2023 - 31 October 2023. - All employers must prepare and submit their declaration (EMP501) and employees’ IRP5’s to SARS reconciling the PAYE/SDL/UIF paid during the period 1 March 2023 to 31...

CIPC clamping down on reckless conduct and non-compliance

CIPC clamping down on reckless conduct and non-compliance

"One of the many purposes of the Companies Act, 71 of 2008 (hereinafter referred to as “the Act”) is to provide for a predictable and effective environment for the efficient regulation of companies and other juristic persons, as described in section 7 of the Act. In...

MD’s News | June 2023 – August 2023

MD’s News | June 2023 – August 2023

A lot has happened in the last few months! Please find the summary of our latest news below: MD Taxation Blog Posts New requirements for PBO Donations AWARENESS CAMPAIGN - REGISTRATION OF TRUSTS FOR TAX PURPOSES The Start of 2023 Individual Tax Season - what you need...

Happy Women’s Day 2023

Happy Women’s Day 2023

Michelle Obama said that "There is no limit to what we, as women, can accomplish." And we thank all the incredible women at MD who help us to accomplish our vision each and every day. Happy Women's Day!

New Requirements for PBO Donations

New Requirements for PBO Donations

Public Benefit Organisations (PBO’s) play an important role in addressing the social, economic, and financial challenges in the South African society. Section 18A of the Income Tax Act provides for a tax deduction of up to 10% of a taxpayer’s taxable income in respect...

CIPC Beneficial Ownership and what is required

CIPC Beneficial Ownership and what is required

The Companies and Intellectual Property Commission (CIPC) is to keep a register of beneficial ownership (BO) for companies and close corporations that will serve as a repository of natural persons who own or exercise control over legal entities registered with the...

FICA and MD

FICA and MD

The General Laws Amendment Act in December 2022 widened the FICA net for Accountable Institutions (A.I.) to include Accounting Firms as part of the greylisting requirements to curb money laundering. The Financial Intelligence Centre Amendment Act, 1 of 2017 brings...

1st 2024 Provisional Tax Information Request

1st 2024 Provisional Tax Information Request

We are in the process of preparing the first provisional tax returns for the 2024 tax year, due for submission to SARS by 31 August 2023. We would therefore, appreciate it if you could furnish us with either a copy of your latest payslip OR the total of your PAYE...