Be Prepared As Government Takes Aim At Trusts

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BVK Chartered Accountants

Newsletter | September 2016



				Be Prepared As Government Takes Aim At Trusts
				For many years government has been hostile to trusts. In the latest draft Bill of 2016 taxation amendments, a provision has been inserted on trusts. Be aware that this has not passed into law but it will have a fundamental impact on trusts if enacted as it stands. This early warning gives you more time to consult with your tax adviser.
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	Due Diligence: It’s More Than Just Compliance
	We tend to think of due diligence as a boring bit of compliance when buying or selling a business. Often auditors come and hunch over files for a few days or weeks and then give you a report on their findings. But in today’s fast-moving world due diligence can be a considerable asset to your business. Think of how quickly a social media comment can damage a business...
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				Business Rescue – How Well Is It Doing And How Can We Improve It?
				Business Rescue (BR) is one of the cornerstones of the “new” Companies Act. It is generally agreed that the BR section of the Act is based on global best practice and is of a very high standard. Virtually all business owners will go through difficult times at some stage in their career – knowing how BR works could be the saviour of your business.
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	A Nightmare On SARS Street: They’re Using Debt Collectors To Recover Tax
	Our two worst nightmares are owing SARS money and being pursued by debt collectors. These nightmares are fusing into one as SARS have contracted debt collectors to recover amounts due to SARS that are older than four years. Why would SARS use debt collectors?....
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				Your Tax Deadlines For September
				23 September is the due date for manual and postal income tax submissions. Don’t forget these other important deadlines for the 2015/2016 tax year: 25 November 2016 – eFiling for non-provisional taxpayers. If you plan to submit from a SARS’ office this is also the due date for filing (non-provisional taxpayers), 31 January 2017 – provisional taxpayers via eFiling.

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The information provided herein should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your professional adviser for specific and detailed advice.

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