All News. All Blogs.
PAIA – Deadline for section 83(4) report less than a week away
The Information Regulator published a notice on 7 May 2023, inviting all private bodies to submit a report by Friday, 30 June 2023, detailing requests for access to the records of these private bodies. This applies to: Natural persons who are/have previously carried...
Meet the Team | Audit and Accounting, June 2023
The Start of 2023 Individual Tax Season – What you need to know to save you time and costs!!
7 July 2023 is the official start of the 2023 Tax filing season – SARS is encouraging all taxpayers to use SARS e-filing channels to file their tax returns with amended deadline dates: Type of Taxpayer Channel Due Date Non-provisional and provisional taxpayers...
Trust Resolutions: A Majority of Trustees’ Decision is no longer binding on a Trust
Many trust deeds provide for ‘majority rule’ that if a decision is made by the majority of trustees and a resolution authorising the same is signed by the majority of trustees, the decision and accompanying resolution are valid. In May 2023 this was changed when the...
Congratulations Alexis Sacks!!! Comrades Marathon 2023!!!
A BIG congratulations Alexis on completing your 6th Comrades adventure this past weekend! After training hard for many months, making every sacrifice required to prepare you to tackle one of the world’s most prestigious, challenging, and enduring events. A dream goal...
MD’s 2023 News | March 2023 – May 2023
A lot has happened in the last few months! Please find the summary of our latest news below. MD Taxation Blog Interest Rate changes - June 2023 NOTICE TO ALL EMPLOYERS - W.As8/ Return of Earnings 2022 (February 2023 period) Section18 A update - 01 March 2023 PAYE...
Interest Rate Changes | June 2023
Click on the link or the image below: Table 3 Interest Rate on Fringe Benefit
We welcome Charlene!
This month we welcomed Charlene Pietersen to the MD Team We wish you every success in your role in the Tax Department!
Congratulations Chantal!
Congratulations to Chantal who has qualified as a SAIT tax practitioner! A great achievement, and well done!!
SAIPA Feedback on ATC Monitoring Visit
"We thank you for your continued efforts to develop your trainees to a level where they can proudly present themselves as professional accountants and wish you every success in producing successful students of the very highest caliber in future." - SAIPA
Teambuilding Ethics Quiz Afternoon Fun!!!
New Trustee Obligation to report to the Master of the High Court
As you may be aware, a new reporting obligation for Trustees was gazetted on 31 March 2023, which amended the Trust Property Control Act, Act 57 of 1998 (TPCA). This means that with effect from 1 April 2023, Trustees are obligated to lodge and keep up-to-date records...
SARS detects a high number of suspicious VAT registrations
VAT SARS detects a high number of suspicious VAT registrations SARS has indicated that R381 billion in refunds were paid in the fiscal year 2022/23, of which R319 billion were VAT refunds. With the substantial increase in applications for VAT registrations, SARS has...
Interest Rate Changes | May 2023
Table 3 Interest Rate on Fringe Benefit | download here Income Tax Act, 1962: Table of Interest Rates Table 1: Interest rates on outstanding taxes and interest rates payable on certain refunds of tax (click to see): Interest rates charged on outstanding taxes, duties...
Congratulations Nicole on completing your SAIPA articles!
Congratulations Nicole on completing your SAIPA articles!!! We are so proud of you and your achievements and we wish you everything of the best with your final PE exam in November!
Thank You Alexis and all at MD Accountants
Welcome Kelly to the MD Team!
Today we welcomed Kelly Jacobs to our Tax Department, as a Tax Compliance Accountant. Welcome Kelly!!! Enjoy your training and we look forward to your long and happy career with us!
Farewell to Lauren
To Lauren who leaves us today to start her next chapter. We wish you every happiness and success!
NOTICE TO ALL EMPLOYERS – W.As8 /Return of Earnings 2022 (February 2023 period)
The 2022 Return of Earnings (ROE) for Compensation for Occupational Injuries and Diseases Act (COIDA) submission deadline has been extended to 31 May 2023 (the initial deadline was 31 March 2023). The Workmen’s Compensation website for online submission/transacting on...
Employment equity changes enacted: sector targets coming soon
Post shared courtesy of: ENSafrica On 12 April 2023, the Department of Employment and Labour (“Department”) confirmed that the President signed into law the Employment Equity Amendment Bill, 2020 (“the Bill”). To recap, the Employment Equity Amendment Act introduces...
Section18A update – 01 March 2023
PAYE Annual Reconciliation – Tax year 1 March 2022 – 28 February 2023
The Annual Reconciliation Declaration (EMP501) submission period has opened on 1 April 2023 with the final submission deadline being 31 May 2023. The employee data that must be submitted by 31 May 2023 should cover the transaction period 1 March 2022 to 28 February...
Big changes to South Africa’s tax laws
New rules governing objections and appeals under the Tax Administration Act (TAA) were promulgated by the Minister of Finance on 10 March 2023. The new rules came into effect on the date of publication and, therefore, replace the ‘old rules’ promulgated in 2014 with...
New PBO disclosure requirements for donation certificates
SARS has recently announced new requirements for the mandatory disclosure of Section 18A certificate information to SARS. (IT3(d) certificates for all section 18A donations received). The new IT3(d) certificates come into effect on 1 March 2023 and applies to all...
SARS email scams phishing for personal data
South African Revenue Service (SARS) has warned taxpayers to be aware of emails or SMSs that ask for personal, tax, banking, and eFiling details indicating that taxpayers are eligible to receive tax refunds. Taxpayers may receive random emails which are made to look...