All News. All Blogs.
Employment Tax Incentive: excellent summary
Why is there an Employment Tax Incentive? Millions of young South Africans are currently unable to participate in economic activity, and as a result suffer disproportionately from unemployment, discouragement and economic marginalisation. High youth unemployment means...
Update on the status of Chartered Accountancy Sector Charter
The amended CA Sector Charter was finalised and signed off by all stakeholder representatives on the Council except for one of the representative groups. The result is that the amended CA Sector Charter was not gazetted by the dti's deadline of 30 October 2015. The CA...
We welcome Nikelwa to our Accounting Department
A warm welcome to Nikelwa Msutu who joined the MD Team today! Nikelwa joins us in our Accounting Department as a Junior Accountant.
10 Years with the MD Team
Congratulations. 09 January 2006 (2016)
2016/2017: Important dates for every business to note
Important dates for every business to note: Please click on the images below to view all details: Timetable for the 2016/2017 tax year:
Congratulations Jade!
Congratulations to Jade Strang on passing her exams and completing her degree! We are so proud of you!
Congratulations Samantha!
Congratulations to Samantha Pillay on completing her SAICA articles this month! Another step closer to becoming a CA! Well done, we are so proud of you!
New retirement reform gazetted
Press Release: Implementation of Tax Harmonisation of Retirement Fund Contributions and Benefits
International structuring – The impact of the Davis Tax Committee’s proposals on foreign trusts
"International structuring – The impact of the Davis Tax Committee's proposals on foreign trusts For ease of reference below is a high-level summary of the comments made by the Davis Tax Committee (DTC) pertaining to foreign trusts: '...there remain an unknown number...
Wills: The impact of the Davis Tax Committee proposals on wills
"The impact of the Davis Tax Committee proposals on wills The Estate Duty Act, 45 of 1955, provides that the dutiable amount of the estate of any person will be determined by deducting an amount of R3,5 million from the net value (ie assets less liabilities) of the...
Government adjusts the tax incentive for energy efficiency
Government adjusts the tax incentive for energy efficiency With the rise of energy efficiency programmes, Government introduced Section 12L to the Income Tax Act, No 58 of 1962. The outline of Section 12L of the Act is that a taxpayer will have access to an allowance...
Earning More vs Spending Less
Article written by: André Bothma | Tax Technical Assistant | MD Accountants & Auditors Inc. "You must gain control over your money or the lack of it will forever control you" – Dave Ramsey It is the 20th day of the month. Payday is still five days away. Too much...
Management dinner and Juanita’s 15 years with MD celebration
Once again we ended off the year with our annual management dinner. A great night was enjoyed by all at The Pot Luck Club. Well done to Juanita on 15 years at MD!
Trusts: The impact of the Davis Tax Committee proposals on trusts
"The impact of the Davis Tax Committee proposals on trust The South African trust, notably the discretionary trust, is currently widely used as an estate-planning structure that (historically) has been considered when dealing with wealthy individuals and their...
SARS no longer accepting ANY payments at their branch offices
With effect from 1 April 2016, SARS will cease to accept cheque payments made at the SARS branches (cash payments at SARS offices fell away in 2014). The following methods of payments will be the ONLY SARS payment options available to you: Bank deposit at any Bank...
Estate Planning: The impact of the Davis Tax Committee on estates
"The impact of the Davis Tax Committee on estates Two of the recommendations in the Davis Tax Committee's First Interim Report on Estate Duty – regarding bequests to spouses and retirement fund contributions – are bound to have a significant impact on deceased estates...
Zumba class for the MD team!
Much fun was had by all participating in a Zumba class held at MD on Friday afternoon!
Some salient comments on the draft Verification Manual
The draft Verification Manual has been published for public comment in Notice 1055 of 2015 in the Government Gazette on 6 November 2015. Interestingly enough the public has been given 30 days to comment whereas the normally required period is 60 days. This shows clear...
Amended Tourism Sector Code now in force and effect
VAT Changes
Voluntary VAT registration – New requirements for registration A person carrying on an enterprise which has not made R50 000 in taxable supplies is allowed to register for VAT, if there is a reasonable expectation to exceed R50 000 in taxable supplies within the 12...
Draft Revised Forest Sector Code
Draft Revised Forest Sector Code Comment expires on 2016-01-06 2015-11-09 Trade and Industry The Department of Trade and Industry has published the Draft Revised Forest Sector Code in line with the Broad-Based Black Economic Empowerment Amendment Act, and has asked...
Invitation for Public Comments on the Draft Amended B-BBEE Property Sector Codes
Invitation for Public Comments on the Draft Amended B-BBEE Property Sector Codes 2015-11-09 Members of the public and interested parties are invited to submit comments in writing by the 30 December 2015, on the draft Amended Broad Based Black Economic Empowerment...