FYI Blog

FICA and MD

FICA and MD

The General Laws Amendment Act in December 2022 widened the FICA net for Accountable Institutions (A.I.) to include Accounting Firms as part of the greylisting requirements to curb money laundering. The Financial Intelligence Centre Amendment Act, 1 of 2017 brings...

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MD’s 2023 News | March 2023 – May 2023

MD’s 2023 News | March 2023 – May 2023

A lot has happened in the last few months! Please find the summary of our latest news below. MD Taxation Blog Interest Rate changes - June 2023 NOTICE TO ALL EMPLOYERS - W.As8/ Return of Earnings 2022 (February 2023 period) Section18 A update - 01 March 2023 PAYE...

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Employment equity changes enacted: sector targets coming soon

Employment equity changes enacted: sector targets coming soon

Post shared courtesy of: ENSafrica On 12 April 2023, the Department of Employment and Labour (“Department”) confirmed that the President signed into law the Employment Equity Amendment Bill, 2020 (“the Bill”). To recap, the Employment Equity Amendment Act introduces...

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MD’s Current News: December 2022 -> February 2023

MD’s Current News: December 2022 -> February 2023

A lot has happened in the last few months! Please find the summary of our latest news below: Taxation Blog Budget Speech 2023 | How it affects you and your business - Budget Speech and Tax Guide Budget Speech 2023 | How it affects you and your business MD's Top Tax...

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New earnings threshold effective 1 March 2023

New earnings threshold effective 1 March 2023

As of 1 March 2023, South Africans will see the implementation of the increased annual earnings threshold determined by the Minister of Employment and Labour (Minister) in the amount of R241,110.59. This represents an increase of R17,030.11 from the previous amount of...

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Refreshing new approach to employee well-being

Refreshing new approach to employee well-being

We are excited to align ourselves with this new approach to employee well-being that has developed as a result of the impact of Covid on employees’ financial and mental health. The biggest change is the free access to debt counselling and financial counselling, online...

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25 Years of Partnerships

25 Years of Partnerships

15 October 2022 Today marks a special milestone for us as we celebrate our Silver Anniversary at MD. As part of our celebrations, we shared the afternoon with our Team of staff and our consultants, most of whom are ex-MD staff members and remain as part of our wider...

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Employment Equity amendments

Employment Equity amendments

EMPLOYMENT LAW Q&A on the Employment Equity Amendment Bill "This alert highlights key amendments to the Employment Equity Act 55 of 1998 in terms of the Employment Equity Amendment Bill. Subject to any last minute constitutional concerns, the signing of the bill...

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DEVISING AND PUBLISHING a business RESCUE PLAN

DEVISING AND PUBLISHING a business RESCUE PLAN

"Assuming that you have followed the processes laid out in my previous articles on accepting and commencing work as a business rescue practitioner (BRP), you will by now − • Have gathered detailed financial information regarding the distressed business • Reviewed the...

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MD’s Current News | May – July 2022

MD’s Current News | May – July 2022

A lot has happened in the last few months! Please find the summary of our latest news below. MD Taxation Blog The Start of 2022 Tax Season - What you need to know to save you time and costs!! Companies: How Will the Reduced Tax Rate and Assessed Loss Rules Affect You?...

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