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May and CompanyAccounting | Auditing | Tax Specialists

September 2019 NEWSLETTER
Be Ready For SARS Employee Audits
With SARS struggling to meet its revenue targets and individuals carrying the bulk of the tax burden, we can probably expect SARS to increase its audits of employees’ tax returns. 

Forewarned being as always forearmed, we discuss the implications for both employees and employers, with suggestions on how employers should have their employees handle queries (whether they do it themselves or through their own tax advisers). 

An audit can be a costly, stressful and time-consuming exercise for everyone involved - minimise the risks to your business with these tips…
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Communicate with Candour – the “Oracle of Omaha” Speaks 
Why should “candour” be a key aspect of your business leadership? How will it benefit you and your business?

We examine how disclosing and confronting problems in your business, in order to deliver a consistent and trustworthy message to all of your company’s stakeholders, is an important long term strategy for boosting both sustainability and profitability.

No less a person than the “Oracle of Omaha”, Warren Buffett, is a fan of the “Candour Analytics Survey” and its predictive powers when it comes to market performance. Let’s have a look at the Survey’s methodology and outcomes…
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Your Shareholder Agreement versus Your Memorandum of Incorporation – There Is Only One Winner 
Shareholder agreements, as the backbone of shareholder relationships, form a vital part of any company’s potential for stability, success and profitability. But what happens if your shareholder agreement conflicts with your company’s MOI (Memorandum of Incorporation)? Worse still, what if either of them are at variance with the Company’s Act? Which of the three takes precedence?

We discuss how our law addresses those questions, with reference to a case in which shareholders fell out over whether the appointment of directors, and shareholder relationships generally, should be governed by their shareholder’s agreement or by the (subsequently adopted) MOI. 
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Spying On Employees Is Becoming A Big Industry 
Why is there a multibillion dollar industry, an industry that is constantly evolving and growing, dedicated to the gathering of employee information? And why would employers want to keep tabs on their staff in the first place?

We look at how monitoring their employees benefits employers, at how you should navigate the delicate balancing act between privacy rights on the one hand and the right of businesses to trade successfully on the other, and at how to achieve a win-win outcome that maintains the mutual trust underlying any employment relationship.

We’ll begin as always with a reminder to treat our complex employment laws with the necessary caution - and with due reliance on professional advice…
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Your Tax Deadlines for September, and an Update on Tax Season 2018/19 
Your third provisional payment for the 2018/2019 tax year is due on or by 30 September 2019. 

This payment is voluntary, and you only need to make it if you have underestimated your tax liability for the 2018/2019 year. Don’t forget that making this third payment will save you penalties and interest.

Other deadlines this month are …
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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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