Newsletter | July 2016

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Index

Presentations - telling a good story

Exit strategy

Talent management strategy

Working with Millennials

TAX NEWS

Tax implications of exchange gains on investments

Financial
management

Audits by Lioyd Viljoen

Deadlines looming

Start of tax season for individuals, trusts and companies for 2016 income tax year
– 1 July 2016 –

Deadline for 2017 first provisional tax returns for individuals, companies and trusts
– 31 August 2016 –

Deadline for 2016 income tax returns manual / postal submissions
– 23 September 2016 –

Deadline for 2016 income tax returns for non-provisional tax payers at a SARS branch or via e-filing
– 25 November 2016 –

Deadline for 2016 income tax returns submission for provisional tax payers via e-filing – individuals and trusts
– 31 January 2017 –

Deadline for 2016 income tax returns for companies
– 28 February 2017 –

Deadline for 2017 second provisional tax returns for individuals, companies and trusts
– 28 February 2017 –

Chartered Accountants SA

1st Floor
Randpark Building
20 Dover Street
Randburg

PO Box 2444
Randburg
2125

Tel: +27 (0) 11 789-1011
Fax: +27 (0) 11 789-1012
Mail: info@wallrich.co.za
Web: www.wallrich.co.za

Dear Reader,

Welcome to the July edition of our monthly online newsletter. We trust that you will find all the articles informative.

We are very excited about our new responsive website that was
developed by Marketing Services and Communication Consultants
(MS CC). Please visit www.wallrich.co.za and let us know what you think. We welcome your comments.

Don’t forget the deadlines for tax returns. You are welcome to contact the Wallrich office to assist you with all your tax and finance related needs. As always, we look forward to being of service to you.

Please do not hesitate to contact us if you require further information on any of the topics covered.

Regards,

Rhoderic and Chrisna Roberts
Partners

Presentations - telling a good story

The problem with an uninteresting presentation generally isn’t the content - it is the delivery. Any content can be made to be exciting, dynamic, and memorable. Rather than presenting facts and figures in a standard presentation format, think about how you turn your subject matter into an experience that relates to the audience.

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Exit strategy

Building a good business is one thing. Knowing when it is time to exit is an entirely different matter. For many entrepreneurs it's not enough to build a business, they also ensure that they have an exit strategy. In other words; a way to extract their money from the venture.

Depending on who you are and what kind of business you have, an exit strategy may mean something completely different to you compared to somebody else. It could be a retirement plan, or it could mean that you are ready to move on to your next project.

Without a proper exit strategy, you risk losing some of the value that you have created. You could, for example, miss the perfect opportunity to sell your business as a result of being unprepared.

Here are a few things to consider when creating your exit strategy….

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Talent management strategy

A good talent management strategy is all about acquiring, hiring and retaining talented employees. It involves linking various components of the business together to develop those individuals that are likely to drive future business growth.

The responsibilities should be spread throughout human resources, training, and selected management sponsors. Talent Management requires a mind-set that goes beyond just talk, and moves the focus towards a holistic and integrated approach to leveraging the greatest competitive advantage from your company’s employees. It is about those thoughts and actions that, consistently, over time, become part of your company’s organisational culture.

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Working with Millennials

Born between the years 1980 and 2000, Millennials are also known as Generation Y. The oldest Millennials are now 36 and are moving into more senior business roles. Many think that Millennials have been pampered by their Baby Boomer (Generation X) parents. A lot has been written about this generation's I-come-first attitude, their affinity to social networking, fondness for all forms of consumer electronics, and constant need for feedback and change, but these attributes shouldn’t necessarily be considered as negative.

Millennials can be a welcome addition to any team. They may be somewhat non-conformist but are constantly challenging the conventional way of doing things and tend to innovate and drive change.

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TAX NEWS

Tax implications of exchange gains on investments

Given the significant depreciation of the South African Rand (ZAR) over the past three years, many South Africans have gradually changed their investment portfolios to include a greater portion of foreign assets. These foreign assets provide investors with exposure to foreign economies and markets. It also provides protection against the erosion of capital value due to the depreciation of the ZAR.

As with any investment opportunity, investors may wish to sell these assets at some point and re-invest the funds elsewhere. Given that the ZAR has depreciated from about ZAR7.5:USD1 at the start of 2012 to levels of approximately ZAR15:USD1, with greater volatility, in the middle of 2016, it is likely that large portions of any gains realised from selling such investments will be attributable to changes in the exchange rate. This view is supported by the fact that investment yields in developed markets are often lower than those that can be achieved in South Africa, if a person invested in JSE linked investments as an example.

In this article we consider the tax implications if these foreign assets are sold by taxpayers who hold these instruments in their personal capacity or in trusts, where these investments are most likely to be held…

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