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The Revised Employment Equity Act: Where Does It Leave You?


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May and CompanyAccounting | Auditing | Tax Specialists

The Revised Employment Equity Act: Where Does It Leave You?
Changes to the Employment Equity Act (“EEA”) became effective on 1 August. They will force businesses to focus more on transformation in their businesses and to carefully review their human resource policies.
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The Companies Act And Conflicts Of Interest: The Risks Of Non-Compliance 
There is no doubt the drafters of the new Companies Act (“the Act”) considered conflicts of interest as crucial to governance. It is an unalterable section of the Act and thus overrides the Memorandum of Incorporation if it allows conflicts of interest. 

The Act is specific in terms of its requirements and the price for not adhering to the Act can be high.
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The New Tax Dispute Resolution Rules: Better Rights For Taxpayers 
Taxpayers have often felt helpless in disputes with SARS when they have been left waiting for responses to queries or objections. Going to court is not an option for most taxpayers but new rules recently gazetted relating to disputes between taxpayers and SARS will give taxpayers hope.
These new rules cover issues such as objections, appeals, the Tax Court and alternative dispute resolution.
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Finance 101: The Importance Of Savings 
“The rich rule over the poor and the borrower is servant to the lender”  Proverbs 22:7

In South Africa we do not have a culture of savings and we have one of the lowest savings rates in the world. This has been steadily declining since the late 1970s. In 1979 our savings rate was 33% of Gross Domestic Product (GDP) and now it is less than 14%. At a household level our savings as a percentage of disposable income are negative whereas in China for example they are more than 30%.
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Your Tax Deadlines For September 
And remember that manual Income Tax returns must be submitted no later than Friday 26 September.


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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