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May and CompanyAccounting | Auditing | Tax Specialists

December 2017 NEWSLETTER
Middle Managers – They’re Vital to Your Success!
“I was appointed to middle management; I didn’t know I could sink so low.”  If that’s what your middle managers are saying, your business is losing out!

Why is middle management so vital to your success?   We’ll discuss how, just as successful sports teams rely on their captains to implement your game plan, to make key decisions on the field and to provide inspiration to the team, so middle managers provide the same key functions in your business.

They are the “captains” of your business.  Appoint good people and get out of their way!
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Groundhog Day with SARS for Deceased Estates: Expect Delays 
When waiting for your inheritance to be paid out, you unfortunately have to live with the inescapable fact that deceased estates take time to wind up.  But whilst some delays are inevitable, executors currently face a new one in the form of a “Groundhog Day” scenario with SARS.  It relates to income tax payable by the estate and a (in theory at least) never-ending cycle of taxable earnings and accounts.

Let’s take a look at when, how and why this came about, at how it complicates and delays the finalisation of the estate, and at how the problem can be easily solved…
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Are You Part of a Product Supply Chain? Beware the CPA 
The CPA is great for us as consumers, and we should all be aware of our very strong rights to quality, “fit for purpose” goods.

On the other hand, if you are anywhere in the supply chain you risk having to pay huge compensation claims for losses caused by any dangerous or defective products.

Who exactly is at risk? On what basis? For what losses?  How can you protect yourself? Read on for the answers to these questions and more.
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What’s Behind the SARS Inquiry? 
You have probably heard of the independent inquiry the Minister of Finance has asked for into why SARS is missing its revenue targets.

It’s an important question for us all, with tax experts suggesting that just over one third of the shortfall (about R18 billion) is due to poor economic performance, with the balance explained by declining tax morality and administrative difficulties within SARS.  

Here’s what you need to know…
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Taxpayers: Good News in the Season of Good Cheer? 
There are no important tax deadlines for December, so we’ll be looking at some potentially great news for taxpayers.

SARS’ principle of “pay now, argue later” as applied to tax disputes has been a source of frustration and cash flow problems to taxpayers for years.  Now, with luck, it could be repealed if new proposals from the Davis Tax Committee are adopted. We might also be the beneficiaries of a new “Taxpayer Bill of Rights” and the imposition of time limits on, for example, the finalisation of tax audits.  Hold thumbs…
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Thank you for your support in 2017.
Have a Wonderful Festive Season, and a Happy and Prosperous 2018!


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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