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January 2018 NEWSLETTER
Directors: Watch Your Liquidity and Solvency
As a company director you need to be aware of the Companies Act’s requirements in regard to testing for and maintaining liquidity and solvency.  Failure to do so not only risks the health and viability of your company, it also exposes you to the possibility of personal liability.

We look at what these concepts entail, at how to monitor them effectively, and at your legal obligations if danger signs appear.
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How Efficient is SARS Globally? 
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SARS has been in for some bad press in the last few years, and taxpayer frustrations are on the increase. But how do we rank globally?  Are we better off or worse off than our international peers?  

A recent 190-country survey compared us with global averages in terms of time needed to prepare and file all our various tax returns, number of tax payments required of us, waiting time for refunds, tax audits and so on.  Some interesting trends emerged…
 
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Bitcoin: Is A Bubble Driving Up The Price? 
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One of 2017’s biggest stories was the Bitcoin phenomenon.  Despite its volatility it has become increasingly popular and the price has rocketed.  It just seems to keep going up and up and is now even officially traded in some futures markets.

Is it a bubble on the verge of bursting or is it a ticket to riches?  Should you invest?  Are cryptocurrencies here to stay or a flash in the pan?  We share some thoughts…
 
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Sugar Tax: Is It Good For Us? 
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Emotions always run high when new taxes are levied, and the “sugar tax” is no exception.  In one corner we have the Department of Health aiming to reduce diseases like obesity, diabetes, heart disease etc.  In the other we have the sugar industry, forecasting job losses and taking issue with the Department’s assertion that there is indeed an inherent correlation between sugar consumption and NCDs.

Regardless, the sugar tax kicks in on 1 April, leaving the question of whether it will affect our overall tax burden; and if so, how?  

 
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Your Tax Deadlines for January; and New eFiling Security Measures 
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If you are a provisional taxpayer submitting your Income Tax Return by eFiling, don’t forget your 31 January deadline.

Be aware also of new security measures introduced by SARS to authenticate your eFiling Profile if it picks up any attempt to change your personal details. If that happens to you, you will need to visit a SARS branch with the required documentation (read on for the list).
 
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“Have a Healthy, Happy and Successful 2018!”

 







Disclaimer

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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