All News. All Blogs.
2B or not 2B: Will your ex-spouse inherit from your estate?
Sometimes it takes a sensational story in a newspaper, as opposed to oft-repeated legal advice, to drive home the importance of regularly updating your Will. Such an article appeared in the Sunday Times on 29 January 2017, entitled Gone to the Dogs. Conveying some...
Breaking News – The current status of ETI Legislation
The previous ETI legislation expired on 31 December 2016. For this reason, there has been a flurry of activity on this website, asking if the ETI legislation has been extended, and If so, in what format. As a courtesy, the following excerpt ought to provide readers...
Breaking News: Amendments to Unemployment Insurance Act
Last week President Jacob Zuma signed a number of acts into law. One was the Employment Tax Incentive Act (see related article) and the other related to amendments made to the Unemployment Insurance Act. This article serves to outline the changes related to the...
Preferential Procurement Regulations 2017
Government on Friday officially implemented its Preferential Procurement Regulations which officially outline the weighting of price vs Broad-Based Black Economic Empowerment (B-BBEE) status when government award contracts. The system will officially work on a 1-100...
Easy steps to save tax before 28 February 2017
Did you know that the donations you make during your lifetime do not form part of your personal estate on death? And donations made by you up to R100,000 annually are exempt from donations tax? Therefore, if applicable, you and your spouse should each be donating...
Congratulations to Stephanie Phillips on her Employee of the Year Award for 2016!
Thank you for your invaluable assistance and support to everyone this year!
Employment Tax Incentives and Unemployment Insurance Fund changes
Recently the President signed 6 bills which gave rise to payroll adjustments that affect you immediately and include the following: 1. Employment Tax Incentive (ETI) programme The ETI system was due to expire on 31/12/2016 but has now been extended to 28/02/2019....
2nd 2017 Provisional Tax Information Request
We are in the process of preparing the second provisional tax returns for the 2017 tax year, due for submission to SARS by 28 February 2017. We would therefore, appreciate it if you could furnish us with either a copy of your latest payslip OR the total of your PAYE...
We congratulate Andre Bothma who was voted as MD’s staff representative for 2017!
Manufacturing Indaba Newsletter: Blazing the Black Industrialists Trail
In its bid to create a more inclusive economy that is less dependent on commodity exports with a bigger productive base focused on manufacturing, the Department of Trade & Industry launched its Black Industrialist Programme in February 2016. The Programme aims to...
We welcome Shetel Hoffman who has joined our Accounting Department as a SAIPA Article Clerk
We welcome Lynton Raath who has joined our team as an Audit Senior!
Season’s Greetings from MD
As the festive season fast approaches, we would like to take this opportunity to thank you for your continued support and loyalty. Our professional relationships are the backbone of our business and we look forward to continuing to partner and grow with you in 2017 as...
ICT Sector sets hard to reach B-BBEE Recognition Levels
The Amended ICT Sector Code 40407 gazetted on 7th November 2016 is unique as it modifies the points requirement for each B-BBEE Level, making it much harder to achieve the required levels than the Amended Codes of Good Practice (COGP) The implication is that only...
Congratulations Fatima!
Congratulations to Fatima on her 10 years with MD! Well done! Here is to another 10!
BEE a factor in EU Treaty
At a time when many companies may be considering not proceeding with a B-BBEE rating under the more onerous Amended Codes, the need for a BEE Certificate is becoming critical for many businesses who export to the EU. To benefit from the recently signed SADC - EU...
Long-awaited B-BBEE thresholds published
In terms of new B-BBEE Regulations (the “Regulations”) issued by the Department of Trade and Industry (the “DTI”) on 6 June 2016, all parties to a “major B-BBEE transaction” are required to register the transaction with the B-BBEE Commission. A transaction constitutes...
ICT Sector Code just released Gazette 40407 7th November 2016
The Minister of Trade and Industry, Dr Rob Davies, issued the Amended Information and Communication Technology Sector Code (“the ICT Sector Code”) on 7th November 2016. Details of the impact of the Code on your business if you fall into the broadcasting, electronics,...
We said farewell to Jaclyn Ross after more than 10 years as a member of our team. We wish her an abundance of happiness and success!
Breaking B-BBEE News: Empowering Supplier Status automatic for all entities until further notice
Dr. Rob Davies, Minister of Trade and Industry, has extended the Empowering Supplier Status to all entities until further notice. Read the Government Gazette here:
The MD staff took part in the Jeep Warrior Race at Meerendal Wine Estate
We finished 5km's and 15 obstacles. Well done Team MD!
We welcome Malikah van Reenen and Emmanuel Nyamutumbu to our Team! They join us in the Accounting Department as Junior SAIPA Accountants.
We welcome Jesse Okkerts who joins us as the Personal Assistant to Dave and Alexis
Draft Construction Code gazetted for comment
Round two: Interest free loan accounts
On 8 July 2016, the National Treasury and the South African Revenue Service (SARS) published a draft Taxation Laws Amendment Bill (First Draft) for public comment. Our Alert of 20 July 2016 (The fate of interest free loans?) provided an exposition of the proposed...