June 8, 2022

How a data-driven culture can transform your business

In today’s digital era, data has become an essential resource for businesses to grow and thrive in a competitive market. But not all companies are taking advantage of this opportunity. In fact, many organisations are still struggling to understand how they can benefit from their data assets and use them effectively to improve their performance. Data-driven culture: what does it mean? A data-driven culture refers to an organisational culture where all employees are encouraged to use data to make decisions that will help improve their performance, as well as their company’s performance as a whole. It’s about using data analytics […]
June 8, 2022

Correction of an assessment: Section 93

As portrayed in the Tax Administration Act No 28 of 2011 (TAA), the dispute resolution rules lay out the legal framework to be followed by both the taxpayer and the South African Revenue Service (SARS) to resolve disputes. Section 93 of the TAA lists a number of circumstances under which SARS can reduce a taxpayer’s tax liability by means of issuing a reduced assessment. An aggrieved taxpayer has the right to dispute a decision or an assessment that SARS has issued. Section 93(1)(d), other than the formal dispute resolution process, introduces a less formal mechanism to request the correction of […]
May 12, 2022

Employee share incentive schemes

Employer companies generally implement employee share incentive schemes to retain and incentivise their employees by enabling the latter to receive indirect benefits from the appreciation in the growth of the company. This is an effective way to offer benefits to employees and encourage their participation and loyalty of employees. Even though these schemes are generally equity-settled, an employer can also elect to implement a cash-settled scheme or even a hybrid scheme wherein the directors are afforded the discretion to award either shares or cash. It is important to determine what benefits should be received when considering these schemes. In terms […]
May 12, 2022

PAYE and non-residents

Employment income is generally taxed where the services are physically exercised. The place of contract conclusion, where the employer is based and where the remuneration is paid is irrelevant in determining the taxation of employment income. This principle is supported by South African legislation and case law. Income earned from South African employers for services rendered in South Africa will be subject to South African employees’ tax. Employees’ tax refers to the amount of money that an employer who is a resident in South Africa deducts (or withholds) from an employee’s remuneration each month, which it pays over to SARS […]
May 12, 2022

Who is held responsible for payments lost due to cybercrime?

This is exactly what happened in Fourie v Van der Spuy and De Jongh Inc. and others. The First Respondent was a law firm and the Second and Third Respondents were practising Attorneys. The Applicant claimed payment of R1 744 599.45 from the Respondents. The First Respondent had a mandate to deal with money paid into Trust by the Applicant. The Second Respondent, upon receiving instructions to make payments via email, paid the money into a banking account belonging to an unknown third party who fraudulently hacked the email server of the Applicant and sent emails to the First Respondent […]
May 12, 2022

Handelsmerke: Om te registreer of nie te registreer nie

Ons het al almal daardie klein handelsmerksimbole, die klein ® en ™, langs die handelsname en logo’s gesien wat ons in ons daaglikse lewens verwelkom het. Maar hoekom is daar twéé simbole waar ‘n enkele een sou kon werk? Die antwoord is eintlik baie eenvoudiger as wat jy dalk dink. Om iets uniek te skep, neem tyd en passie, en vereis dikwels dat ‘n mens ‘n paar keer terug gaan na die tekenbord. Dit maak dus net sin dat jy die unieke aspekte van jou besigheid, handelsmerk of produk wil beskerm. En as ‘n sakevaardige individu, wéét jy, jy kan […]
April 7, 2022

Keeping things fair in the business race

The purpose of the Competition Act 89 of 1998(“the Act”) is to promote the efficiency, adaptability, and development of the economy, and to ensure that small and medium-sized enterprises have equitable opportunities. Certain practices, including restrictive horizontal practices, restrictive vertical practices, and abuse of dominance, are prohibited in terms of the Competition Act. The Competition Act 89 of 1998 (“the Act”) was enacted to promote and maintain competition in South Africa, to ensure that small and medium-sized enterprises have an equitable opportunity to participate in the economy and to promote a greater spread of ownership, particularly amongst historically disadvantaged persons. […]
April 7, 2022

Analysing tax exemption for dividends

Dividends are a valuable part of many shareholders’ income, but even though they are exempt from regular income tax, it does not mean that they are completely exempt from tax. A dividend can be defined as any local or foreign dividend paid by a resident company of South Africa or a foreign country, provided that the foreign dividend is paid as a listed share and to the extent that the foreign dividend does not consist of an asset in specie. Dividends that South African tax residents receive are generally exempt from income tax. However, the mere fact that these dividends are […]
April 7, 2022

The difference between registered and unregistered trade marks

We’ve all seen those little subscripted trade mark symbols, the tiny ® and ™, next to the brand names and logos we’ve come to welcome into our daily lives. But why are there two symbols where a single one could work? The answer is a lot simpler than you may think. Creating something unique takes time and passion, often requiring years of going back to the drawing board until you get it just right. So, it only makes sense that you would want to protect the unique aspects of your business, brand, or product. And as a business-savvy individual, you […]
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