The ‘Big Three’ Tax Worries (part 1): Cars
What keeps taxpayers awake at night? Judging by the many questions that I’ve been asked as a tax practitioner over the years, there is a definite ‘Big Three’ when it comes to problems that cause taxpayers sleepless nights: cars, shares, and property. The tax treatment of these three items probably causes more anxiety, and has […]
Protect Your Family’s Assets with Effective Estate Planning
Make sure your assets are managed and distributed according to your wishes. Estate planning is an important step in protecting your family’s future and avoiding any unnecessary complications. Here’s a simple guide to the key steps involved in the process. Define Your Goals Start by outlining what you want to achieve. Whether it’s providing for […]
Every Contract Has a Tax Consequence
When drafting a contract, ignoring tax will often be to your peril. Every single contract in terms of which money or property changes hands has tax consequences for the parties involved. These consequences have been plainly evident in cases where people bought their fixed property in a Close Corporation or private company, thinking that because […]
Cybersecurity Risk Assessments in Audits: Protect Financial Data
Cybersecurity is a key concern for businesses, especially when it comes to protecting financial data. With the growing number of cyber threats targeting sensitive financial information, companies are expected to implement strong internal controls to secure this data. Why Cybersecurity Risk Assessments Matter in Audits Auditors are increasingly responsible for evaluating cybersecurity risks during financial […]
Capital Gains Tax Considerations for Retiring Small Business Owners
Retirement for small business owners is not simply a case of handing in your resignation letter and having a big party at which the company presents you with a gold watch. It often involves the not inconsiderable task of selling your business—particularly if there is no ‘heir apparent’ to take over the reins. And then […]
VAT on Short-Term Lettings and Commissions
Are you acting as agent or principal—and what would be the pragmatic approach? There are very few people across the world who haven’t heard of Airbnb. Started in San Francisco in 2008, this multi-billion-dollar NASDAQ-listed company that employs around 7,000 people has revolutionised the short-term letting industry. Over four million property owners around the world […]
Achieve Financial Success with JZA: Your Partner in Outsourced Accounting
Managing a business’s finances is no walk in the park. With day-to-day operations, compliance requirements, and strategic planning all vying for your attention, it’s easy to feel overwhelmed. At JZA, we understand these challenges and are here to help you manage them through our outsourced accounting services. The Challenge of Financial Management Many business owners […]
Xero’s AI Assistant, JAX: A New Era for Small Business Accounting
Xero, a leading cloud-based accounting platform, is set to redefine small business finance with its groundbreaking AI assistant, Just Ask Xero (JAX). Unveiled at the company’s inaugural Investor Day, JAX harnesses the power of generative AI to automate complex accounting tasks, providing small business owners with unprecedented control and insight over their finances. How JAX […]
Compensation for Losses: Which ‘Hole’ is Filled?
Many taxpayers assume that compensation for losses is of a capital nature. It depends… There are no hard and fast rules for determining whether a particular gain is of a capital or a revenue nature. Each case needs to be decided on its own facts. The distinction is important because of the lower effective rate […]
Ensure Your Trust Compliance with JZA’s Expert Guidance
Stay informed and compliant with the latest updates in South African trust regulations. Recent changes, including new requirements from SARS and the Master of the High Court, emphasise the importance of accurate reporting and governance for all trusts, including dormant ones. Key Points: Beneficial Ownership Reporting: Ensure your trust is registered with SARS and submit […]