2011 EMP 501 (posted 17 May 2011)
Please note that the Annual Reconciliation and issue of IRP5 / IT3 certificates is due by 3 June 2011. Please ensure that these are submitted timeously to avoid penalties.
Bi - annual EMP 501 August 2011 (posted 6 October 2011)
2011 EMP 501 (posted 17 May 2011)
COMPANIES ACT 71 OF 2008 (posted 10 May 2011)
The long awaited Companies Act has finally been implemented. With effect from 1 May 2011 all companies (and CC's) are affected by this new legislation. This legislation has far reaching changes from the old Act. It is vital that you understand the impact that this Act will have on your company / cc and the Directors/Member.
Below are some highlights.
Residential Property Tax Window (posted 6 October 2010)
There has been a significant change in s51A of the Income Tax Act relating to the “free” transfer of residential properties out of Company’s or Trusts.
Companies Act: Implementation date deferred (posted 30 September 2010)
Pastel Accounting Software Upgrade (posted 13 September 2010)
SARS Requirements - Electronic documents:
Electronic documents, which include tax invoices, debit notes and credit notes must be transmitted in a format with at least 128 bit encryption. All PDF documents generated in Pastel Accounting Version 11 will automatically carry 128 bit encryption. In addition, the recipient must agree to receive electronic documents. A sample letter of consent is available in Pastel Accounting Version 11 - another great reason to install your upgrade.
Implementation of the Companies Act, 2008 (posted 4 August 2010)
According to a Notice published on the CIPRO website, the target date of implementing the Companies Act, 2008, is 1 October 2010. Should it appear that this date cannot be met, sufficient notice will be given.
Tax Changes (posted 7 July 2010)
PAYE Reconciliation Changes (posted 30 June 2010)
Did You Know (posted 7 October 2009)
2009/2010 Budget Highlights
Company Tax Rate remains at 28%.
Tax thresholds for Individuals increased.
SARS Penalties for Late Submissions
New Turnover Based Tax
The New Companies Bill
2008 Individual Tax Filing Season To Start 15 September (posted 10 September 2008)
Due to the two week extension announced on 31 August 2008 for Employers to submit their EMP501 reconciliations, SARS has advised that the eFiling income tax return submissions will only commence on 15 September 2008.
