South Africa’s Winter Wonderland And SARS Cracks Down On Millionaires
Has anyone else wondered where all the time has gone by? We certainly have!
May has come and gone and we’ve approached our halfway destination. As this marks the end of the 1st financial quarter (for most entities) it’s good to reflect on past performance and realign your goals.
Important Dates & Notices
General Dates
For the month of June, we have a tiny break on the 16th of June while the nation celebrates Youth Day. To find out more about the origins of Youth Day Feel free to read on here…
Tax and Accounting Deadlines
It has been some time since the announcement, but it is official, the UIF liability monthly contributions limit has increased from R14 872 to R17 712 per month.
As we surpass May all employers’ EMP501 and WCA returns should be filed and submitted.
Other deadlines not to be missed are the VAT submissions by the end of the month and PAYE submissions by the 7th, which are always ongoing. For companies ending with a December year-end provisional taxes are due. These will be advised by your accountant, as always, when they fall due for your business.
Furthermore, it’s an excellent time to start collecting and preparing your Income Tax documents as the opening date should be from the 1st of July.
If you’re not a monthly client and are in need of these returns being filed contact us to arrange that we assist with these returns.
Articles We Found Interesting
Which accounting software should I use?
This is a question that many business owners ask themselves, and it can be difficult to answer. There are so many different providers of accounting software out there, each with its own unique features and pricing plans. In this blog post, we will compare Xero vs FNB Instant Accounting vs Quickbooks vs Sage. All four of these companies offer cloud-based versions for their products – but which one is the best?
Xero Accounting Software
If you’re looking for an accounting software that will help your business work more efficiently, look no further than Xero. With the single unified ledger and automatic bank feeds, it’s designed to keep businesses running smoothly without requiring frequent data input from users. You can even create custom invoices with a few clicks of the mouse or swipe on mobile devices! It also includes a host of other features such as fixed asset register, business and management reporting, purchase orders, expense claims , accounts payable & receivable and many more. READ MORE…
Some More Interesting Things Happening…
- Global governments are catching up to large corporate companies taking advantage of tax havens. The United States has proposed a minimum global corporate tax rate of at least 15%.
- Worries over new tax will push wealthy South Africans to emigrate.
- The UK is in talks with AstraZeneca to secure a “variant vaccine.” The current shot is only 10.4% effective against the strain first identified in South Africa.
- Elon Musk made “Baby Shark” stock rise.
- Krispy Kreme reveals its plans for an initial public offering trading as DNUT. Sales growth of 17% to $1.1 billion in the past year, up from $959 million.
Signing Off
As we creep into winter we start off with a chilling cold front. It’s official, take out your coats and winter socks because winter is here! At least we are left with beautiful sights across our country with KZN turning into a winter wonderland.
All the best for a productive June. Let’s all keep safe while the 3rd wave is steadily approaching so we can flatten the virus’ surfing groove. 😉
If you have any queries email us at [email protected].
