It seems that each week a new way of doing business is created. Disruptive, technology driven and new business models are constantly being developed by leading companies and initiatives, for example Uber, Skype and Amazon.
Your company might hold an established position in the market today, but that doesn’t mean that employees, and especially management, can be complacent.
Disruption and commoditisation have impacted most industries. We are now seeing new players entering traditional markets and establishing a disruptive model and capturing significant market share. This trend is only going to continue.
Companies that will thrive today and tomorrow are those that embrace change and flexibility. Corporate and smaller companies, that are embracing flexible working, can use it to help cut costs, attract talent and radically improve productivity.
Technology has changed the way we communicate and it is currently changing the way we work. Gone are the days when office workers spent every working moment in a cubicle or at a desk. The rise of digital communication tools, collaboration apps and productivity suites, coupled with the benefits of the 'always on' nature of the web, have set the modern business free. Flexible working is the natural evolution of work in the brave new digital world. Today, businesses large and small can operate anytime, anywhere.
Speech recognition applications have been around for a long time, but until recently haven't seen a huge uptake by the business community. With high accuracy and professional apps available for mobile devices, the question must be asked: Could your business benefit from voice recognition technology?
Many business users have experienced what voice recognition can offer. Apple's Siri is already quite popular. However, Windows 10 users have Cortana, which moves the digital assistant to a whole new level of functionality. More importantly for today's businesses is the fact that Cortana is available on phones, tablets and desktop PCs.
Interest is only deductible if incurred in the production of income and for purposes of carrying on a trade. This requires that the loan of which the interest is incurred and the trade/income should be closely connected. A recent case heard in the tax court illustrates that the original purpose of a loan for a specific purpose plays an important role in this regard, even in the case of a loan with flexible payment terms.
Interest would generally only be deductible in terms of section 24J of the Income Tax Act if incurred for purposes of carrying on a trade and in the production of income.