The general provisions under POPIA will apply equally to any personal information processed by an employer as part of an employee’s employment, and all employers have until 1 July 2021 to ensure that their workplaces are fully POPIA compliant.
The digital landscape is constantly evolving, and as more emerging technologies gain traction, more and more opportunities become available to businesses that need to be utilized otherwise they risk falling behind – especially now that we are living in a vastly different “New Normal”. It is now harder for businesses to only rely on word of mouth or the use of bulk emailing to keep their clients informed and must utilize all digital platforms in order to thrive.
The COVID-19 pandemic has accelerated digital disruption and led to significant, long-term market uncertainty. While this pandemic has forced many businesses to reduce or suspend operations, affecting their bottom line, it has helped to accelerate the development of several emerging technologies. This is especially true for innovations that reduce human-to-human contact, automate processes, and increase productivity amid at social distancing.
The director’s role has without a doubt become more onerous amidst the Covid-19 pandemic. However, the Companies Act makes provision for operating in a virtual world, which includes, inter alia:
All persons who are able to work from home must do so. However, persons will be permitted to travel to and from work and for work purposes under Alert Level 3, subject to-
The past two months of lockdown have been difficult for the tourism sector. Many businesses in the sector are fighting for survival and projections showed that almost 600 000 jobs were at risk if the sector doesn’t come into operation by September 2020. This reality led to both government and private sector working together to be both innovative and putting protocol guidelines to get the sector back into operation.
To qualify for the COVID-19 Tax Relief for PAYE, employers, must:
Transitioning your office to remote working conditions can be a challenge – in this article, we've rounded up 9 steps to help you make the move as quick and easy as possible.
South Africa has limited growth potential in the short term. While government gets its house in order, we need to make sure that, as business owners, we have the correct strategy in place to meet the challenges that face us. Real value lies in the process of putting the plan together. The act of planning helps you think things through thoroughly, and to critically re-assess your assumptions and ideas. A good strategy needs to be short, sharp and coherent, with a strong opening paragraph illustrating where you are going and how you aim to get there.
Unlike conventional trusts, which are taxed at a flat rate of tax, a special trust is taxed on the same sliding scale applicable to natural persons. For tax purposes the following types of special trusts are recognised:
Many may think that they are not old enough or wealthy enough to warrant doing any estate planning. However, if a person is over the age of eighteen, no matter how small their estate is, it is advisable to begin the process. Where an estate planner is “at” in life, will determine your strategic plan for your estate, and which techniques to use in order to implement in the plan. An estate planner may be single, married, divorced, or separated. You may have minor children or adult children. You may be married for a second or third time, with children from previous marriages. You may own assets with a strong growth potential.
Much has been publicised about the potential implementation of prescribed investments and resultant impact on investment returns. This policy was previously followed by the Nationalist Party but abolished in the late 1980’s.
Since the 1980’s there has been a global movement towards sustainability and sustainable development – as countries and governments have realised that economic development at the cost of destroying the planet’s natural resources and social equity does not lead to long-lasting prosperity.
Setting up an Online Store
Did you receive an SMS from SARS showing your tax calculation?
In the current economic climate, more and more companies are becoming financially distressed. Directors are duty bound to constantly monitor the company’s financial position, to determine whether voluntary business rescue proceedings need to be initiated. Failure to implement business rescue proceedings could result in the director being charged with reckless trading and be exposed to personal liability. It is incumbent upon directors to ensure that they place their companies into either business rescue or liquidation, or to cease trading, when the warning signs become evident. Directors should be aware of the practicalities of business rescue, and the duties and powers of the business rescue practitioner.
In 2018 the Department of Trade and Industry published a Companies Amendment Bill for public comment. There are a number of proposed amendments that affect small and medium enterprises (SME’s) and we will briefly outline a few of the potential implications below:
This year taxpayers who meet ALL the following criteria need NOT submit a tax return:
There is one truth about change: It’s going to happen. Technology, consumer demand, globalization, competition, and the economy—all of these factors contribute to the need for every business to move with the times in order to survive. Companies that want to grow, have to change to remain viable and continue growing. That’s the very nature of growth—it brings about and demands change.
Recently released, the United Nations’ global assessment of environmental health is grim: biodiversity declining at an unprecedented rate, one million species at risk of extinction, human populations in jeopardy if the trajectory is not reversed.
With the imminent introduction of Carbon Tax, it is important to know how this will affect your business. While your business may not be directly affected by the tax, your suppliers may well have to pass on additional costs incurred as a result of it. So, let’s explore who and what will be subject to the tax.
A number of clients often have difficulty accessing SARS documents on the eFiling system. This is mainly due to incompatible browsers. The SARS eFiling website is optimally viewed in Internet Explorer (IE) versions 8+ browsers.