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Employees of the Year 2021!!
Congratulations to Cecelia and Junaid, who have both been awarded Employee of the Year for 2021! We are very proud of you both and all you each do for our MD Team! 😊 Well done and keep it up in 2022!! Accounting Department: Taxation Department: Our Staff...
Change in foreign investment allowance
During the 2022 budget review the Minister of Finance announced that the criteria for South African resident individuals investing abroad have been expanded. In addition to the annual R10 million foreign investment allowance, tax-compliant South African resident...
MD’s annual staff function and awards ceremony
A wonderful MD celebration was enjoyed by all at the stunning Buitenverwachting Wine Estate last week Friday. Thank you to Danie Haumann for a heartfelt, positive, and gratitude-filled speech. Congratulations to Junaid Van Der Schyff and Cecelia Smith, for their...
Con Court PPPFA Ruling and Minimum Wage Implications
On the 16th of February, after some 4 years of litigation, the South African Constitutional Court made a landmark ruling that will prevent BEE pre-qualification criteria from being applied by government and state-owned entities in their procurement of goods and...
MD Accountants & Auditors Inc. | Budget 2022
Budget Speech 2022 | How it affects you and your business
In his 2022 budget speech, Finance Minister Enoch Godongwana revealed a more positive picture for government’s finances. The South African Revenue Service took in R182 billion more than expected in the past year. These stronger revenues allowed the Minister to...
Employee share incentive schemes – Income tax implications
EMPLOYEE SHARE INCENTIVE SCHEMES – INCOME TAX IMPLICATIONS INTRODUCTION It is important for taxpayers who claim deductions in respect of contributions to share incentive arrangements for employees, particularly where trusts are involved, to consider the potential...
IoDSA Governance Guidance – King IV vs ISO 37000
As both standards are voluntary, it remains the choice of the organisation to determine which standard it wishes to apply. Regulatory requirements, disclosure requirements to allow stakeholders to view comparative information, and available guidance on the application...
Selling or leasing property? Take note of the new Property Practitioners Act
Selling or leasing property? Take note of the new Property Practitioners Act INTRODUCTION The Property Practitioners Act (“PPA”) has come into effect on 1 February 2022. The PPA aims to ensure a healthy property market, to regulate property practitioners and to...
Deceased Employee – responsibility of the Employer
Deceased Employee - the responsibility of the Employer: The Fourth Schedule to the Income Tax Act places various obligations on an employer in respect of the withholding of employees’ tax and the administrative requirements related thereto. What obligation rests on...
Employment Law Alert
From 01 March 2022, the annual earnings threshold determined by the Minister of Employment and Labour has been increased to R224,080.48. This represents an increase of R12,484.18 from the previous amount of R211,596.30, which has been in effect since 01 March 2021. -...
MD’s Top Tax Savings Tips ahead of the Budget on 23rd February 2022
With the upcoming Budget on 23rd February 2022 and the current economic climate (SARS will try to find every possible way to increase collections!), we are expecting a tough Budget and increased taxes. The following comprehensive year-end tax planning guidance and...
MD’s Top Tax Savings Tips ahead of the Budget on 23rd February 2022 | Maximise Your Remuneration Planning and Save Tax
With the upcoming Budget on 23rd February 2022 and the current economic climate (SARS will try to find every possible way to increase collections!), we are expecting a tough Budget and increased taxes. The following comprehensive year-end tax planning guidance and...
Newsflash | mandatory vaccinations in the workplace: SA’s CCMA hands down an important decision | 26 JAN 2022
Mandatory vaccinations in the workplace: SA’s CCMA hands down an important decision South Africa’s primary dispute resolution body, the Commission for Conciliation, Mediation and Arbitration (“CCMA”) has issued its first award in respect of an employee refusing...
A summary of rates/dates since 01.03.2021 to date
MD’s Top Tax Savings Tips ahead of the Budget on 23rd February 2022 | Maximise Your Wealth Planning and Save Tax
With the upcoming Budget on 23rd February 2022 and the current economic climate (SARS will try to find every possible way to increase collections!), we are expecting a tough Budget and increased taxes. The following comprehensive year-end tax planning guidance and...
2nd 2022 Provisional Tax Information Request
We are in the process of preparing the second provisional tax returns for the 2022 tax year, due for submission to SARS by 28 February 2022. We would, therefore, appreciate it if you could furnish us with either a copy of your latest payslip OR the total of your PAYE...
Roxy Davis Foundation – NPC 2019/167824/08 | NPO 235-936 | PBO 930069168
Another one of our amazing clients, giving back to the community: ...
Merry Christmas MD! ~ Feedback from one of our wonderful clients!
Seasons Greetings and Appreciation Card from us. Marilyn May | Atlantic Hope
January 2022 Newsletter Introduction
As we begin the new year with hope for a kinder 2022 and with many long-standing and personal relationships being one of the cornerstones of our business, we include a summary of our value-added professional services which may assist you in the year to come. We are...
SOUTH AFRICA | The shield of legal professional privilege
Post shared courtesy of: Cliffe Dekker Hofmeyr Follow this link to read the full article | https://bit.ly/3EdIG1M
Secret Santa and Farewell to Trymore
In celebration of Secret Santa and wishing Trymore farewell on his new journey, we shared some gifts and laughs to close off the year. May 2022 bring a year of fulfillment, joy, and success for everyone.
SARS: Public notice prescribing the particulars that a tax invoice must contain
On 10 December 2021, Government Gazette 45624, Notice 1594 provided a public notice prescribing the particulars that a tax invoice must contain if the supply by a vendor relates to any enterprise contemplated in paragraphs (b)(vi) and (b)(vii) of the definition of...
MD’s Current News | November 2021
A lot has happened in the last two months! Please find the summary of our latest news below: Taxation Blog Posts Tax Chronicles November 2021 | Misleading Advice to Expatriates Tax & Exchange Control Alert - 16 September 2021 SARS EMP501 Interim Submission -...
Tax Chronicles November 2021 | Misleading Advice to Expatriates
Tax Chronicles Issue 40 November 2021 Post shared courtesy of: