Newsletter | September 2015 Download print version
Index
The benefits of outsourcing non-core business functions
Microsoft gets it right with
Windows 10
Getting your content right
Authority versus leadership
Why your firm needs a grievance procedure
The benefits of digital marketing
Important notice
TAX NEWS
Blurred lines between affairs of taxpayers
Writing off loans: Not a simple tax matter

Financial
management

Deadlines looming

Deadline for manual/postal tax returns
– 30 September 2015 –

Employer Interim Reconciliation ends
– 30 October 2015 –

End of electronic income tax submissions at SARS branch (non-provisional)
– 27 November 2015 –

End of eFiling income tax submissions (non-provisional)
– 27 November 2015 –

End of eFiling Provisional taxpayers tax submissions
– 29 January 2016 –

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,

Spring has sprung. We are pleased to welcome you to our September newsletter. We hope the articles keep you updated on relevant tax news and provides vital business tips and information.

Please pay attention to the important notice that relates to BEE certificates for small entities; don’t worry, it is good news. The two tax articles Blurred lines between affairs of taxpayers and Writing off loans: Not a simple tax matter offer valuable insight into the tax impact on our everyday business affairs.

Keep in mind that we are here to assist you should you need us. Please do not hesitate to contact us if you require further information on any of the topics covered.

Regards,

Rhoderic and Chrisna Roberts
Partners

The benefits of outsourcing non-core business functions

More and more organisations are outsourcing goods and services to external parties. Due to the hyper-connected world we live in, outsourcing is possible from any offshore location and for any business type.


The main functions which are increasingly being outsourced include HR management, IT and marketing and communication services, as well as general administration. Management of these functions usually remain in-house, while the tactical level and execution of these services are being outsourced.

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Microsoft gets it right with
Windows 10

The reviews that Microsoft 10 have been receiving are good and it has a lot of new features. Here is a summary of the new Windows 10 system:

Did Microsoft get it right with Windows 10?
The new operating system (OS), available as a free upgrade for existing Windows 7 and Windows 8 (not including corporate) users, is built from the ground up to pursue Microsoft's vision of a unified OS that spans all devices without alienating any one platform. Windows 10 is designed so that a single user experience spans every piece of technology, including laptops, tablets, desktops, phones and everything in between. For those who are wondering where Windows 9 is, Microsoft skipped it and went straight from 8 to 10.

Read More

Getting your content right


Content marketing is becoming the most commercially important digital marketing trend and requires expertise, thought, editing, time and effort. Sometimes it is difficult to generate ideas for new posts and stay up-to-date with the latest trends. In this article we share a few ideas for content creation to help keep your customers engaged.

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Authority versus leadership

Every manager should know the difference between authority and leadership. A great manager is a true leader, not a boss. Being a boss doesn’t make you a leader; it simply means that you have an authoritative business approach.

Do you remind your employees who is boss or do you motivate, engage and empower them? Do you force people to listen to you or do they choose to listen to you?

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Why your firm needs a grievance procedure

As an employer, you need to have reasonable procedures in place to resolve workplace disputes. Those procedures cover two areas:

1. Your complaints against an employee, or
2. Where your employee has concerns,
    problems or complaints.

If one of your employees has a concern, problem or complaint about his or her working conditions or relationships with colleagues, it is called a grievance. An employee is entitled to raise a grievance with their manager about any aspect of their working life that they are unable to resolve informally.

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The benefits of digital marketing

Digital marketing has become an integral part of doing business these days. This kind of marketing has gained popularity due to its effectiveness in reaching a wider target market. This is largely attributable to the increasing number of customers that spend their time online. Mobile devices have made this even easier, because customers can access the internet on-the-go from any place and at any time. This article shares a few of the benefits of digital marketing, as opposed to traditional methods.

Read More

Important notice

No more BEE certificates for small entities with turnover less than
R10 million.

In terms of Gazette 38765, issued on 6 May 2015, paragraph (b) “An EME is only required to obtain a sworn affidavit or Certificate issued by Companies and Intellectual Property Commission (CIPC)”. Therefore, in compliance with this requirement, B-BBEE Approved Registered Auditors are not allowed to issue certificates to EMEs. An EME may only obtain a certificate from the CIPC.

A template for a sworn affidavit can be found on the Department of Trade and Industry’s website.

TAX NEWS

Blurred lines between affairs of taxpayers

Persons often conduct their business affairs, or some parts thereof, through companies. In many cases, a single individual owns all the shares of such a company. The line between the affairs of the company and those of the shareholder become unclear as the person becomes indifferent between the two entities as both represent his economic interests. Some of the dangers of these lines being blurred were considered in a recent tax court case (VAT867). This article sets out some of the pitfalls to be aware of.

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Writing off loans: Not a simple tax matter

Many businesses feel the pressure of challenging economic times. For some entities it may be possible to release the difficulty to some extent by restructuring liabilities owing to lenders, often where the lender is related or connected to the borrower. The restructuring of a loan was recently the subject of a binding private ruling issued by SARS to a taxpayer (Binding Private Ruling 193 (BPR193)). This article sets out the tax implications of a reduction of a debt for the borrower and also highlights some pitfalls to be aware of, as highlighted in BPR193.

Read More

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