MJ Minter Inc on 09/01/2019

Economic Policy Paper for Public Comment

The Minister of Finance, Mr Tito Mboweni, called on members of the public to make comments on a paper titled: “Economic transformation, inclusive growth, and competitiveness: Towards an Economic Strategy for South Africa”.

  MJ Minter Inc
MJ Minter Inc on 09/01/2019

Special Trust

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:

  MJ Minter Inc
MJ Minter Inc on 09/01/2019

Who Needs to do Estate Planning?

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.

  MJ Minter Inc
MJ Minter Inc on 09/01/2019

Prescribed Investments for Pension Funds

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.

  MJ Minter Inc
MJ Minter Inc on 08/01/2019

National Health Insurance (NHI)

The NHI Bill was recently promulgated amid a mixed reaction sentiment, positive and negative. While one can identify strongly with the rationale, affordability is paramount as is the management of such a fund.

  MJ Minter Inc
MJ Minter Inc on 08/01/2019

Is Your Business Sustainable?

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.

  MJ Minter Inc
MJ Minter Inc on 08/01/2019

South African Economy – The long Road Ahead

News channels throughout South Africa are bombarding us daily with negative news on the South African economy. While it is pretty much a global issue, our situation is compounded by the ravages of state capture and the abuse of taxpayer’s money. From a global perspective, South Africa is the 67th most competitive nation in the world out of 140 countries ranked in the 2018 edition of the Global Competitiveness Report published by the World Economic Forum. Competitiveness Rank in South Africa averaged 51 from 2007 until 2018, reaching an all-time high of 67 in 2018 and a record low of 35 in 2007.

  MJ Minter Inc
MJ Minter Inc on 08/01/2019

SARS Income Tax Important dates

There are a number of important submission deadlines over the next few months. Make a note of the following and should you require assistance please do not hesitate to contact us for professional advice.

  MJ Minter Inc
MJ Minter Inc on 07/01/2019

Implementing NHI One Step Closer

The cabinet has finally approved the National Health Insurance (NHI) bill for tabling in Parliament, as announced by Minister in the Presidency for Planning, Monitoring and Evaluation: Jackson Mthembu.

  MJ Minter Inc
MJ Minter Inc on 07/01/2019

Business Rescue – Directors Responsibility

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.

  MJ Minter Inc
MJ Minter Inc on 06/01/2019

Companies Amendment Bill

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:

  MJ Minter Inc
MJ Minter Inc on 06/01/2019

Tax Season 2019

This year taxpayers who meet ALL the following criteria need NOT submit a tax return:

  MJ Minter Inc
MJ Minter Inc on 05/01/2019

Navigating change

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.

  MJ Minter Inc
MJ Minter Inc on 05/01/2019

The Ramaphosa Effect

The outcome of the national elections is a clear indication that, while the ANC lost regional support, many voted in effect for Ramaphosa nationally. This gives the President the mandate he requires to put his reformist policies in place.

  MJ Minter Inc
MJ Minter Inc on 05/01/2019

Global Environmental Health

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.

  MJ Minter Inc
MJ Minter Inc on 05/01/2019

Carbon Tax – How does it affect your business?

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.

  MJ Minter Inc
MJ Minter Inc on 04/01/2019

SARS Browser Compatibility Guidelines

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.

  MJ Minter Inc
MJ Minter Inc on 04/01/2019

How Do Tourists Spend Their Money?

Tourism is often promoted as one of the key sectors that will drive growth in South Africa. We take a look at an extract from a Stats SA article to get an idea of what tourists spend their money on:

  MJ Minter Inc
MJ Minter Inc on 04/01/2019

Business Brexit Checklist – Adapted from the UK Chambers of Commerce

The UK’s impending departure from the European Union will bring change for businesses of every size and sector. The UK is one of South Africa’s largest trading partners. While some companies are already planning for the challenges and opportunities ahead, all firms – not just those directly and immediately affected – should be undertaking a Brexit 'health check', and a broader test of existing business plans.

  MJ Minter Inc