FYI Blog

On Friday 12th May, WannaCry a strain of Ransomware, hit thousands of computers worldwide. It is far more dangerous than other common ransomware because it is able to spread itself across an organisation’s network due to a vulnerability in Windows computers. How have...

Deputy President Cyril Ramaphosa announced yesterday that: “Agreements on measures to strengthen labour stability and collective bargaining and on modalities for the introduction of a national minimum wage” have been signed. In terms of the agreement on the...

A Reminder that the FINAL submission date for online EE reports is 15 January 2017. Employers with less than 150 workers must send their EE reports within 12 months after they become employers; and thereafter every year ending with an even number. Employers with more...

Basic Conditions of Employment Act : New minimum wages from 1 July 2016 to 30 June 2019 will apply to the hospitality sector which: Includes hotel, motel, inn, resort, game lodge, hostel, guest house, guest farm or bed and breakfast, short stay, self-catering,...

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...

"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...

"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...

"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...

"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...

Article written by:  Samantha Pillay (BCompt) | Intermediate Audit Trainee | MD Accountants & Auditors Inc. Recently I have come across the G20 summit, while watching one of my favourite series; it popped up as an advertisement and got my attention as I never knew...

Article written by:  Sajidah Khan | Debtors Clerk and Frontline Administrator | MD Accountants & Auditors Inc. Building relationships with your clients is the cornerstone to being a progressive and happy debtors clerk. Of course things are never as seamless as you...

This article was of interest and selected as a blog post by:  Jennifer Whitehouse CA (SA) | External Audit Consultant The audit report which we have all become familiar with is expected to take on a new format effective for financial periods ending on or after 15...

Article written by:  Keith Walker | Administration Assistant | MD Accountants & Auditors Inc. Fifteen years ago I never thought that my job title would be Administration Assistant. I thought that I would be working somewhere that was outside the office environment...

Article written by:  Jenine Mentoor | Junior Accountant | MD Accountants & Auditors Inc. Many people are faced with the question, ‘Am I too stressed at work?’  This is brought on by the feeling of being inadequate.  Fear not fellow employees, the cavalry has...

SAICA News | Articles written by: Dave Rich The October 2021 ASA edition has two articles on Business Rescue.   The April 2021 ASA included another article written by Dave Rich. MD's Complete Library to Relevant Business Rescue Information, click here: ***...