GreatSoft News
‘Real-time’ reporting to SARS on trusts? Yes, maybe
Trusts are still largely unregulated, which frequently leads to their abuse. The Courts and SARS are, however, becoming impatient with trustees and trust service providers. In July 2021, SARS presented a webinar on Trust and Tax Obligations. SARS’s nine objectives were communicated and included the following: SARS will make non-compliance difficult and costly; They are
The dark waters of Phishing
What is phishing? At some point in time anyone that uses email, whether in a personal capacity or within their organisation, would have encountered a phishing email. The first recorded use of the word phishing according to Wikipedia, was in 1995. Gone are the days when these email attacks consisted of crudely put-together attempts to pedal
Unemployment Insurance Fund (UIF) What you should know!
UIF Introduction Every business owner in South Africa, whether you are a new start-up or small business, you have probably heard of all the governing bodies you need to register with such as SARS, COIDA, POPI & UIF. It is not just the company that needs to be registered with these statutory bodies, but also the
What you need to know about SARS auto assessment
News Article – SARS Notice: Auto Assessment rules for 2022 Payroll system functionality traditionally ends with the creation of tax certificate files for submissions and reconciliation and does not extend into income tax assessments and related processes. However, the notice from SARS outlining the latest auto-assessment rules is of direct importance for employees (taxpayers), and
A global corporate governance dialect hits our shores…
Confusion of Babylonian proportions….. Following the release of the Cadbury Report in the UK and shortly afterwards the first King Report in South Africa in the early nineties, a wave of corporate governance codes and reports followed. This resulted in more than 140 of the approximately 193 countries in the world today having some form
Why should you outsource your payroll?
Payroll Outsourcing is a service offered by an external entity that provides legal, tax, and accounting support to companies to ensure that employees receive their payslips in a timely and accurate manner with minimal risk. Current statistics have shown that over 40% of small to medium-sized companies are outsourcing their Payroll to a Bureau or
