Accounting Experts | Rosebank, Johannesburg

Author: Daniel S

  • SARS Estimated Assessments: What Every Company Taxpayer Needs to Know

    —

    in

    ⚠ Compliance Alert: SARS has issued formal warnings that companies failing to submit their income tax returns by the applicable year-of-assessment deadline may face estimated assessments and associated penalties — based solely on information SARS already holds. If your company has outstanding tax returns, this is not a matter to defer. SARS is actively using…

  • SARS Rolls Out a Simplified Diesel Refund System – What It Means for Your Business

    —

    in

    UPDATE: 2026-04-18: As per the letter issued by SARS on 25 March 2026, the roll out of the new Diesel Refund System has been delayed until further notice. The South African Revenue Service (South African Revenue Service) is introducing a modernised Diesel Refund System, aimed at making the refund process simpler, faster, and more transparent…

  • Ceasing South African Tax Residency: Understanding the Tax Implications for Emigrants

    —

    in

    As increasing numbers of South Africans consider emigrating for lifestyle, security, career, or financial reasons, many overlook the significant tax implications of formally ceasing South African tax residency. For individuals with substantial local and offshore assets, understanding the tax consequences is crucial to avoid unexpected liabilities — including potential double taxation. The “Exit Tax” Explained…

  • Thinking of Selling or Purchasing a Going Concern?

    —

    in

    The term “going concern” refers to a business that is actively trading and expected to continue operating into the foreseeable future. When buying or selling a going concern, it is critical for both parties to understand the VAT implications involved. VAT Act Requirements for a Going Concern The VAT Act treats the sale of a…

  • SARS on the Attack: Diesel Refunds

    —

    in

    SARS Intensifies Diesel Refund Audits: Why a Compliant Logbook is Essential SARS has stepped up its scrutiny of diesel refund claims, with audits now extending to claims made more than two years ago. Many vendors, particularly farmers, are finding their claims rejected due to incomplete or poorly maintained supporting records — most notably, diesel logbooks.…

  • 1 year

    1 year

    —

    in

    I took the risk of opening my own accounting practice a year ago, and what a journey it has been. It hasn’t always been simple. Long nights, difficult lessons, and many growing pains are all part of building something from the ground up. In retrospect, though, I wouldn’t trade the experience for anything. Just as…

  • Annual Financial Statement Drafting

    —

    in ,

    The Importance of Experts in Drafting Financial Statements for SMEs under IFRS for SME Framework in South Africa In the complex landscape of modern business, accurate financial reporting is not just a legal requirement but also a vital tool for decision-making and ensuring the financial health of a company. For Small and Medium Enterprises (SMEs)…

  • VAT Audits and refunds

    —

    in

    VAT returns are always a contentious topic in the office of the accountant. From SARS issuing VAT verification letters to audit requests, the endless cycle repeats every other month or, if meeting certain criteria, monthly.VAT returns are always a contentious topic in the office of the accountant. From SARS issuing VAT verification letters to audit…

  • What is Provisional Tax and do I have to pay that.

    —

    in

    Provisional tax is not a separate tax from Income Tax.It is a method of paying tax due, to ensure the taxpayer does not pay large amounts on assessment, as the tax liability is spread over the relevant year of assessment. It requires the taxpayers to pay at least two amounts in advance, during the year…