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May and CompanyAccounting | Auditing | Tax Specialists

Directors: The Steinhoff Debacle Highlights Your Exposure to Personal Liability
If you are a company director, whether executive or non-executive, you should be constantly aware of your duties in terms of the Companies Act and of the consequences of failing to live up to your statutory responsibilities. 

The Steinhoff debacle has of course sent shockwaves through South Africa generally, but it also highlights a particular danger that faces directors daily – the risk of personal liability. Let’s have a look at how Steinhoff could set a precedent on that…
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How to Grow Your Small Business Rapidly with Digitalisation 
Consider this scenario – you are a small business showing steady growth but unable to afford your next step on the road to reaching critical mass. You need to appoint more support staff to handle an increased workload, but you don’t have the cash flow to do so. What can you do?

A local case study around just such a situation highlights a powerful solution – embracing technology and digitalisation to boost your capacity without the usual cash flow challenges and working capital problems. Read on for the details…
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South Africa’s Importance to the World 
We tend to think of South Africa as a small player on the world stage, but that could be set to change. And if it does, our sophisticated economy and brightening economic outlook will be significant factors in providing a model for Africa as a whole. 

It’s important to understand how that line of progression will benefit us all, so we’ll discuss the latest trends in Africa generally, and where we fit in - both in the continent and in the world.
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Minimum Wage Starts Soon: Make Sure You Are Ready 
A very significant day for all of us will be the launch of the new minimum wage provisions, due to start on 1 May but now reportedly facing delay due to the high number of submissions received from the public.

For those many employers and employees directly affected we’ll start off with details of the minimum wage, the rationale behind the Bill, the possibility of applying for exemption, and the concessions made in specific sectors. Then we’ll discuss the likely effect on our economy of this new initiative – it could be significant.
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Your Tax Deadlines and Other Tax Snippets for April 
There are no major deadlines for April but don’t forget that your EMP501  Employer Annual Reconciliation Declaration is due by 31 May. Make sure you are prepared for this lengthy exercise.

The Special Voluntary Disclosure Program or SDVP was released in response to the worldwide sharing of information by tax authorities. If you are wondering how it turned out, SARS will collect R3.3 billion from this in the 2017/18 tax year.


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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