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Starting a New Business in South Africa: A 5-step Plan
Starting a new business is an exciting, yet daunting journey. However, with all the excitement comes the responsibility of navigating the legal and financial aspects
Why Should Small Businesses Use a Tax Practitioner?
Being a small business owner can be challenging, and comes with a multitude of responsibilities. When you’re busy running around trying to fulfil orders, the last
Choose a Registered Tax Practitioner for Your Personal Income Tax
The thought of personal income tax can stir up a sense of anxiety for most individuals,
particularly because of the complexities surrounding tax legislation. While some taxpayers
attempt
SARS Auto-Assessments: A Guide for Individual Taxpayers
In 2020, The South African Revenue Service (SARS) started implementing the SARS auto-assessment system to simplify the tax filing process for individuals. This init
Individual Income Taxes: Getting Ready for The Tax Season
As the days get shorter and the temperatures continue to drop, there's another cold and dark season approaching that we need to prepare for – tax season! Luckily,
Understanding the Mandatory Disclosure Rules (MDR) Process in South Africa
Regulations on taxes are continuously changing, and if you want to make sure you stay compliant, you need to stay updated on the latest developments. One such regula
Amendments to The R&D Tax Incentive in 2024
Starting from January 1, 2024, the Research and Development (R&D) tax incentive is getting a slight makeover. These amendments aim to simplify the process, hopef
South Africa's R&D Tax Incentive: Feulling The Engine of Innovation
Research and Development (R&D) is a term used to describe the systematic activities companies undertake to innovate and introduce new products or services or to
Insights from South Africa's 2024/2025 Budget Speech
Finance Minister Enoch Godongwana presented the 2024/2025 budget speech on 21 February 2024, setting the stage for a year filled with optimism. As long as you pair t
Tax Rebates in South Africa: What You Need to Know
Everyone deserves a break. Especially when you are facing the daunting prospect of tax season around the corner, but fear not, for there's a silver lining called tax rebates! Essentially, these are
Unlocking Tax Benefits: Section 13sex of South Africa's Income Tax Act
Section 13sex of the Income Tax Act outlines specific criteria and conditions for deductions related to new residential units and improvements. Taxpayers are present
Beyond the Bottom Line: Insights from an Entrepreneur
As accountants and tax practitioners, we specialise in accounting, taxation, payroll, and related business financial management services and advice. However, I feel
Beneficial Ownership: The Impact on Small Businesses and Trusts
Small business owners and trusts in South Africa need to acquaint themselves with a new concept called Beneficial Ownership. Join us as we take a closer look at wha
What You Need to Know About the Changes in the 2024 Tax Season
As the financial landscape evolves, so do the tax regulations governing taxpayers in South Africa. The 2024 tax season has brought with it significant changes that a
Voted: The Best Auditing Services in Johannesburg by Top Reviews
How we picked the best companies for audit services in Johannesburg:
- Expertise – We chose companies that possess the experience and track record needed to get the
Foreign Income Tax for South Africans: Let’s Talk About Expat Tax
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If you're a citizen who earns income from foreign sources, it's important to understand your tax obligations. Whether it's from employment, rental propert
Solar Tax Incentives For Individuals And Businesses
Herewith is a short summary of the tax incentive programmes for renewable energy in South Africa, including solar panel rebates for individuals and businesses.
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By understanding
Useful Tax Tips for Freelancers and Contract Workers
As a freelancer or contract worker in South Africa, managing your finances can seem like a daunting task. After all, it’s unlikely that your field of expertise is
Simplify Your Finances With Digital Accounting Software
Digital accounting software has emerged as a powerful tool that simplifies financial management and improves overall efficiency. Boasting a wide range of features and functionalities, accounting so
What Makes Digital Accounting Different?
The modern world moves at a staggering pace, and technology plays an increasingly important role in every aspect of our lives. Digital accounting is one such technology that has revolutionised the
Aim For A Fresh Start In The New Financial Year
The start of a new financial year should be an exciting time for businesses and individuals alike. However, for many, this is a stressful time where uncertainty looms over the coming year. With a n
How Should You Prepare For The Financial Year End?
As the end of the 2023 tax year draws closer, many companies and individuals scramble to get their affairs in order before the closing date. Ensuring that everything is ready for submission can be
Saving Money by Hiring an Accountant for Your Small Business
Many small business owners are hesitant about approaching an accountant to manage their company’s financial affairs. This could be due to a number of reasons, but one of the most common issues is
Why Should You Hire an Accountant for Your New Business?
Starting your own business is an exciting endeavour and one that comes with its own set of challenges. You might have an exceptional idea and a solid business plan but unfortunately, this does not
Booysen Accountants - The Benefits of Outsourcing Payroll Services
A business can only thrive when all its departments are functioning at optimal levels and hiring the right employees is an important step toward achieving this goal. Ensuring that all of your emplo
Provisional Income Tax: The Implications for South African Taxpayers
Most business owners are familiar with the concept of provisional tax, but many are still unsure about its implications.
Individual Income Tax has been Simplified This Season
Tax season is once again upon us and taxpayers are able to file their tax returns as of the 1st of July 2022. As is the case each year, the South African Revenue Service (SARS) has implemented a nu
Can Project Management Accounting Improve The Way You Do Business?
The productivity and profitability of a company are often largely dependent on the effectiveness of the project management systems they have in place. Effective project management accounting enable
Focus on Farming - Effective Tax Solutions for the Agricultural Sector
South Africa’s agricultural sector is exceptionally diverse and it plays a vital role in the growth of the country and its economy. Farmers are not only responsible for supplying the produce that
Booysen Accountants: Your Professional Partner
Anyone that has attempted to manage their personal finances or that of their business will be able to testify that this is quite a challenging undertaking. The various taxation laws in South Africa
Booysen Accountants - Accounting in the Digital Age
In an ever-changing world, with constant advancements in technology, you have to be able to adapt if you wish to stay effective and efficient. Like many other occupations, accountants have had to e
Tax Incentives for Small Business Corporations (SBC) in South Africa
We’ve probably all heard it said that small businesses are the backbone of any economy. These businesses often employ the majority of a country’s citizens and pro
Die Belastingvoordeel van Skenkings aan ‘n Openbare Weldaadsorganisasie
As jy al ooit gewonder het waarop jou belasting betalings spandeer word is jy verseker nie alleen nie. Talle van ons het al gewonder of ons belasting vir die regte d
A Closer Look at The Different Business Structures in South Africa
If you are starting a company in South Africa, one of the first things that you need to consider is which business structure will suit your endeavour best. Each business
Crypto Tax Explained: How to Ensure Compliance
There is still a lot of uncertainty surrounding the payment of crypto
What is an EMP501? - Employer Reconciliation Explained
Reduce your stress levels by trusting Booysen Accountants with all your accounting and taxation needs. As a business owner, you usually
Personal Income Tax Explained - Home Office Expense Claims
The Covid-19 pandemic forced many companies to reevaluate the way that they do business, especially with regard to office space. Many employees have been encouraged to wo
Personal Income Tax Explained - Booysen Accountants
With the first half of the year 2021 behind us, many South Africans are getting their financial affairs in order as the end of the tax season draws ever closer. For many individuals, the end of the
Tax Implications For South-African Expats
Starting from the 1st of March 2020, the South African Revenue Service (SARS) has implemented new tax legislation that is aimed at collecting taxes from South Africans that are employed abroad, par
The Advantages of Outsourcing Payroll
In order for a business to operate optimally, an employer has to ensure that multiple departments are functioning effectively. As a business grows, the number of obligations it needs to meet increa
The bitcoin rally is very near the top and companies are being 'gimmicky' in adopting crypto, a currency strategist says
- The crypto rally is "getting very long in the tooth," Boris Schlossberg told CNBC.
- The BK Asset Management strategist said lots of bitcoin adoption was "gimmicky."
- Bitcoi
SARS is cracking down on cryptocurrency owners. Here's what you need to know
- Some taxpayers are receiving audit letters that demand information about their cryptocurrency holdings.
- SARS wants to crack down on undisclosed holdings this year.
- Popula
South Africa’s 2020 medium-term budget in a nutshell
Finance minister Tito Mboweni has tabled the 2020 medium-term budget policy statement before parliament – revealing strained finances, with little room to manoeuvre through South Africa’s reces
SARS Information
SARS is making major changes to the tax season, here is what you need to know:
SARS recently announced the relevant dates in respect of the 2020 filing season for individuals. There are som
UIF Covid-19 payouts have been extended into August
The UIF's scheme for special Covid-19 payouts - of up to R6,730 a month - has been unexpectedly extended until mid-August.
The so-called TERS payments were supposed to end after June.
SARS can’t just order a bank to pay over your tax debt, court rules
- A recent high-court ruling found that taxpayers have to receive "sufficient" notice before SARS can instruct a bank to pay over an outstanding tax amount from one of its clients.
- S
The Budget could bring new taxes
After the interest rate announcement the biggest factor affecting consumers is the Budget speech by Tito Mboweni, minister of finance, which is expected on 26 February.
Lucie Villa, Moodyâ€
South Africans may be hit with extra taxes next year - Treasury
Treasury warned that while South Africans have been hit with large tax hikes over recent years, even more taxes are being considered to boost the bare state coffers.
Sars is set to be R215 billion short by the end of this tax year – here are six ways that will make you poorer
A widening tax shortfall is going to blow another hole in state finances – and ultimately leave ordinary people poorer.
Every tax year since April 2014, Sars has fallen short of the tax c