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BBBEE Commission Regulations salient features
The BBBEE Commission Regulations commenced 9 June 2016 and provide, amongst others, for: Condonation of late performance of conduct or act prescribed by BEE Commission; BBBEE compliance reporting duties for publicly listed companies, government and SETAs; Approach to...
Employee Tax Incentive Scheme – Are you taking advantage of this tax break?
We have recently identified that a large number of our clients and companies closely associated with them, have not been calculating and claiming their ETI. In some cases, this has resulted in a significant loss of tax free income and an overpayment of PAYE. What is...
SARS Interpretation Note : Documentary Proof required for the Zero Rating of Goods and Services
Should a vendor wish to apply the zero rate on goods and services exported, in addition to a valid tax invoice, certain other documentation needs to be obtained and retained by the vendor in order to substantiate the entitlement to apply the zero rate. The...
B-BBEE Regulations gazetted 6th June for implementation
The Minister of Trade and Industry published the Broad-Based Black Economic Empowerment Regulations relating to the administration and implementation of the Broad-Based Black Economic Empowerment Act and the functions of the Commission.
Fraudulent BEE deals to be scrutinised
Fraudulent Black Economic Empowerment deals will be scrutinised by government's BEE Advisory Council. Chaired by President Jacob Zuma, the council now requires contracts to be registered with the council, or constant monitoring. The Black Economic Empowerment Advisory...
Danie and Cathy’s Farewell at Cafe Paradiso
SAICA Guide on the Retention of Records
SAICA have released an updated Guide on the Retention of Records.
We wish Colin all the best in his future endeavours
Today we say a very sad farewell to Colin Dockrall. We wish you all the best for your future endeavours!
We say farewell to Cathy
We bid farewell to Cathy as she embarks on her next adventure after 16 ½ years with her MD family. We have watched this remarkable woman grow up from a bright eyed 19 year old into the amazingly efficient leader she is today! Cathy, we will miss you so much but we...
Tekkie Tax Day
Our staff took part in National Tekkie Tax Day this year by donating money, and wearing stickers and their takkies to work on Friday, 27 May. The five types of organisations being helped by this effort include those helping children, animals, those with...
Zuma signs law to appease provident fund members
Zuma signs law to appease provident fund members May 24 2016 10:26 Matthew le Cordeur Article courtesy of Matthew le Cordeur/Fin24
PC Tour: Tourism Broad-Based Black Economic Empowerment (BBBEE) Codes: National Department of Tourism briefing
The committee meeting Tourism Broad-Based Black Economic Empowerment (BBBEE) Codes: National Department of Tourism briefing on 2016-05-20 is now available Tourism Broad-Based Black Economic Empowerment (BBBEE) Codes: National Department of Tourism briefing Get free...
We welcome Dale to our Audit Department
Dale Thompson joins our team today as an Audit Manager. We wish you a long and happy stay at MD!
New SARS Tax Compliance System – made simpler and easier
SARS has now improved compliance by introducing the enhanced Tax Compliance Status System, making it even easier for taxpayers to manage their tax affairs. On the 18th of this month, SARS rolled out their final phase of TCS. Taxpayers are now able to log onto eFiling,...
SARS payments – no longer accepted at SARS offices from 01 May 2016 onwards
With effect from 01 May 2016, SARS branch offices will no longer accept any form of tax payments – ALL payments are to be done via electronic methods (Electronic Funds Transfer (EFT) or SARS E-filing payment methods), or via a physical bank deposit at an approved...
Companies Act and Annual Financial Statement requirements
CIPC Annual Financial Statements All companies must prepare annual financial statements (“AFS”). Public and State Owned companies (SOC) must have audited AFS while a Private, Personal liability and Non-Profit company is not required to have its AFS audited unless: in...
Rob Davis issues draft amendments to BEE code for transport sector
Minister Davies Gazettes Draft Amended Transport Sector Code for Public Comments 2016-04-08 Members of the public and other interest parties are invited to make inputs and comments on the Draft Amended Transport Sector Code which was gazetted in terms of Section 9...
Welcome Bronwyn to our Admin Team!
Bronwyn Daries joins our MD team today as our Frontline Administrator. We wish you a long and happy stay at MD!
Final marketing, advertising and communications sector code published
Final marketing, advertising and communications sector code published The Media Online The final MAC sector code, which applies to advertising, public relations and communications companies in all media including digital platforms, was ... The provisions of this...
WORKPLACE SKILLS PLAN AND ANNUAL TRAINING REPORTS – DEADLINE 30 APRIL 2016
The Skills Development Act and Skills Development Levies Act, require businesses with an annual payroll of at least R500 000 to register for Skills Development Levies (SDL) and pay a skills development levy each month. The benefits of Skills Development: Claim up to...
Get ahead of the rush – Annual EMP501 February 2016 reconciliation opens 18 April 2016 – deadline is 31 May 2016!
All employers must prepare and submit their Annual EMP501 declaration (EMP501) and employees’ IRP5’s to SARS reconciling the PAYE/SDL/UIF paid during the tax year 01 March 2015 to 29 February 2016 before 31 May 2016. Late submission of the EMP501 return AND...
Feedback on the Fronting Conference
Click below to read the article, courtesy of the Association of B-BBEE Professionals (ABP):
We welcome Elizabeth to our Audit Department
Elizabeth Snyers joins our team today as an Audit Supervisor. We wish you a long and happy stay at MD!
We welcome Siddeeqa to our Administration Department
Siddeeqa Pentolfe joins our team today as a Junior Secretary. We wish you a long and happy stay at MD.
Your SETA submissions are more important than ever before!
The deadline for the submissions of your SETA workplace skills plan (WSP), PIVOTAL plan and annual training report (ATR) is the 30th of April. These submissions are now a pre-requisite for entities wishing to be rated under the Amended B-BBEE Codes of Good Practice....