Newsletter | September 2014 Download print version
Index
Go green and save money
Five current business trends not to be ignored
How to protect yourself from hackers
Amendment to the employment equity act
South Africa maintains first position for the strength of Auditing and Reporting Standards for five years in a row
New bill to change SA rental market
TAX NEWS
The route to follow when you do not agree with a tax assessment issued

Deadlines looming

End of tax season for individuals (manual submissions)
- 26 September 2014 -

Employer interim reconciliation ends
- 31 October 2014 -

End of tax season for individuals (non provisional taxpayers)
- 21 November 2014 -

Tax season deadline for eFiling (provisional taxpayers)
– 30 January 2015 -

 
 

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

 

Payroll Service



 
Dear Reader,

Welcome to our September newsletter. A very important read is the Amendments of the turnover thresholds, which became effective from
01 August 2014.

We have also included news from the IRBA about The strength of Auditing and Reporting Standards in South Africa and The route to follow when you do not agree with a tax assessment issued.

We are excited to announce that Wallrich has opened a Twitter account. Make sure you follow us on Twitter: @Wallrich_SA and let us know what you think. Retweets and mentions will be appreciated.

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

Regards,

Rhoderic and Chrisna Roberts
Partners
Go green and save money
 

Can we lighten our impact on earth and save money simultaneously? Is it even possible? Climate change has become a global topic and individuals from all over are undergoing lifestyle changes as part of their contribution to a sustainable and healthy earth.

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Five current business trends not to be ignored

Incorporating trends in your business can assist in elevating it to the next level. Be receptive to new innovations as it can impact positively on your company’s growth.

Not one customer is the same; therefore your business needs to render its service in a manner that would suit it best. Some companies are eager to incorporate all the new trends, but one true key to success is being attentive of a new trend, then being astute enough to identify if it is right for your business.

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How to protect yourself from hackers

The recent large-scale hack of celebrities’ personal mobile phones and release of their private nude photos have raised questions about mobile device security. The scandal has once again reiterated the importance of personal privacy information.

The hackers allegedly accessed the celebrities' photos by hacking their iCloud accounts. Apple has since denied that the incident was caused by "any breach in any of Apple’s systems including iCloud or Find my iPhone."

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Amendment to the employment equity act

Click on the “read more” button to view the amendments to the turnover thresholds, which became effective from 01 August 2014.

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South Africa maintains first position for the strength of Auditing and Reporting Standards for five years in a row

South Africa maintained its number one ranking for the strength of the Auditing and Reporting Standards for the fifth year in a row according the World Economic Forum's (WEF) Global Competitiveness Index for 2014-2015, released on 3 September.

The Independent Regulatory Board for Auditors (IRBA) CEO Bernard Agulhas says the ranking brings confidence to foreign investors that they can trust and rely on our auditing strength despite the economic meltdown that the country is experiencing.

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New bill to change SA rental market

Recently tabled in the National Assembly, the proposed Rental Housing Amendment Bill could bring about some significant changes in the rental market for both tenants and landlords.

The Rental Housing Amendment Bill could be used as an excellent tool to form a pro-forma lease agreement stipulating the minimum rental agreement criteria.

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TAX NEWS

The route to follow when you do not agree with a tax assessment issued

Taxpayers are often faced with the challenge of dealing with an assessment issued by the South African Revenue Service (SARS) that they do not agree with. The Tax Administration Act became effective from 1 October 2012 and contains an enabling section (section 103). This section allows the Minister to issue rules that govern the procedures to lodge an objection and appeal against an assessment. Until 11 July 2014, the rules promulgated under section 107A of the Income Tax Act remained in force.

With immediate effect from 11 July 2014, the Minister issued new rules under section 103 of the TAA. These new rules serve as a useful reminder of the process and procedures available to a taxpayer when disagreeing with an assessment. Taxpayers are now able to submit their 2014 tax returns in respect of which assessments will be issued. This article sets out the initial steps, as set out in the new rules, which are available to a taxpayer when disputing an assessment.

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