Your Tax Deadlines for January 2024

05 January – Monthly Pay-As-You-Earn (PAYE) submissions and payments 24 January – End of Filing Season for Provisional taxpayers 24 January – End of Trusts Filing Season for taxpayers liable for provisional tax 30 January – Excise Duty payments 31 January – Value-Added Tax (VAT) electronic submissions and payments & CIT Provisional payments where applicable. Disclaimer: The information provided herein should not be used or relied on as professional advice. No…  Read more

Corporate Gifting: How to Boost Your Business This Festive Season

“A real gift comes attached with ribbons, not strings.” (Raymond C Nolan) Most clients, suppliers and business associates will appreciate a thoughtful gift from your company, and the Festive Season is the most appropriate time to send such a gift. The challenge lies in selecting a gift that conveys genuine intentions to thank the recipients for the role they play in the success of your business, to strengthen the relationship…  Read more

Festive Season Gifts for Employees? Here’s How SARS Will Tax Them

“Think of giving not as a duty but as a privilege.” (John D. Rockefeller Jr.) Most businesses want to show appreciation to their employees at the end of a long year’s work, and the “Season of Giving” is the ideal time. A thoughtful gift will make any employee feel more recognised and appreciated, and this will improve morale and enhance perceptions about the company and could even increase employee satisfaction…  Read more

How to Write a One-Page Business Plan

“If you do not know where you are going, every road will get you nowhere.” (Henry A. Kissinger) Creating a business plan is one of the most important processes when running a business. It is the roadmap for the success of any business and should include everything from cash flow planning to expansion strategies and the company’s mission statement. If you want to take out a loan a full-length plan…  Read more

9 Tips for Catching CV Liars

“No man has a good enough memory to be a successful liar” – Abraham Lincoln, President of the United States of America, 1861-1865  In a recent survey conducted by StandOutCV more than 50% of Americans admitted to lying on their CV. It’s a staggering number, and something that is taking place in a country where jobs are plentiful and finding work easy. Google searches on how to lie on a…  Read more

Your Tax Deadlines for December 2023

7 December – Monthly Pay-As-You-Earn (PAYE) submissions and payments 28 December – Excise Duty payments 29 December – End of 3rd Financial Quarter 29 December – Value-Added Tax (VAT) electronic submissions and payments & CIT Provisional payments where applicable. 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…  Read more

Why is Estate Planning so important?

It is important not to view estate planning as final stage financial planning designed to secure a financial legacy for your loved ones, but rather as an ongoing process of managing one’s assets and liabilities throughout your lifetime to ensure that your estate is designed to achieve both your lifetime goals and your objectives following your death. Ensuring estate liquidity Having sufficient funds available in your estate is crucial to…  Read more

The Important Role of Beneficiary Nomination in Your Estate Plan

The Important Role of Beneficiary Nomination in Your Estate Plan Estate planning often involves various documents and considerations, from wills to trusts, but one crucial element that sometimes doesn’t receive the attention it deserves is beneficiary nomination. It’s a simple process, yet its implications are significant. The Power of Naming Beneficiaries When you set up financial products like life insurance policies, retirement accounts, or investment accounts, you have the power…  Read more

Employee Incentives That Really Work for Small Businesses

“Always treat your employees exactly as you want them to treat your best customers.” (Stephen R. Covey, author of The Seven Habits of Highly Effective People) Small businesses often lose their talent to large companies simply because they can’t afford the kinds of salaries and incentives on offer at a global corporate. Keeping staff happy is, however, critical for business success. Here are five employee incentives that really work to…  Read more

SARS Admin Penalties: What Taxpayers Can Do

“…imposing administrative non-compliance penalties is to ensure the widest possible compliance with the provisions of a Tax Act … they are imposed impartially, consistently and proportionately to the seriousness and duration of the non-compliance.” (SARS) The Tax Administration Act stipulates that SARS can issue administrative penalties for outstanding tax returns. In previous years, penalties were only imposed on taxpayers with more than one tax return outstanding. Since December, due to changes in…  Read more

The Hidden Costs of Starting a Business

“There are only two things in a business that make money – innovation and marketing, everything else is cost” (Peter Drucker, author) Running a business is never cheap and starting one up may be one of the most expensive things you ever do. According to the U.S. Small Business Administration, most microbusinesses cost around R60 000 just to get to the point where you are ready to start operating. Clearly,…  Read more

Dispute with SARS? Here are the New Rules…

“The importance of the ability of taxpayers to challenge the legality of actions and decisions within the tax system is internationally recognised.” (Taxpayers’ Rights: Theory, Origin and Implementation) In South Africa, taxpayers have the right to dispute tax assessments, interest, late payment penalties, and administrative penalties for various taxes, including Personal Income Tax (PIT), Corporate Income Tax (CIT), Value-Added Tax (VAT), and Pay-As-You-Earn (PAYE). This is done by submitting requests such…  Read more

Your Tax Deadlines for November 2023

7 November – Monthly Pay-As-You-Earn (PAYE) submissions and payments 29 November – Excise Duty payments 30 November – Value-Added Tax (VAT) electronic submissions and payments & CIT Provisional payments where applicable. 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…  Read more

Wills vs. Trusts: Deciding the Right Estate Planning Tool for You

Wills vs. Trusts: Deciding the Right Estate Planning Tool for You Estate planning – the words alone can often conjure images of complex legal documents and endless decisions. Yet, in truth, it’s about securing your legacy and ensuring your assets are handled precisely as you wish, even when you’re no longer around to oversee them. To fulfill this important task, two primary instruments, wills and trusts, take center stage. Understanding…  Read more

Achieving Peace of Mind Through Financial Planning

Achieving Peace of Mind Through Financial Planning   In today’s fast-paced world, finding peace of mind in your financial planning might seem like an elusive goal. However, it’s not as impossible as it may appear.   Studies reveal that clients seek several key qualities in their financial advisor.   They want a partner who provides a broad spectrum of reliable investment options, offers proactive and client-focused advice, and is genuinely…  Read more

Money Management Mastery: A Roadmap to Financial Success

Money Management Mastery: A Roadmap to Financial Success   Are you ready to take control of your financial destiny? It all starts with effective money management. In this week’s blog, we’re diving deep into the world of Money Management Mastery. Let’s explore key strategies, practical tips, and debunk common myths to pave your way to financial success. Introduction   Money management isn’t just about budgeting; it’s a holistic approach to…  Read more

The Journey to Financial Confidence: How Our Services Can Make a Difference

Achieving financial confidence is a journey, and we’re here to guide you every step of the way.   At KCE Estate Planning and Wealth Management Solutions, our financial solutions are designed to empower you with the knowledge and strategies needed to reach your financial goals. In this blog post, we’ll take you through the step-by-step process that clients can expect when they engage with our services.   Step 1: Understanding…  Read more

The Risky New Trust Landscape – What Trustees Need to do Now

“The common assumption is that trusts are some kind of tax panacea…Then, conversely, from a South African Revenue Service (SARS) perspective, trusts are viewed with a degree of suspicion and mistrust. [T]he truth lies somewhere between these positions.” (Broomberg on Tax Strategy) The legal and tax landscape in which South African trusts operate has changed substantially over the last few months, thanks to changes to the Trust Property Control Act…  Read more

Tips for Pacing Business Growth for Sustainability

“Growth is never by mere chance; it is the result of forces working together” – (James Cash Penney, Founder of JCPenney) Every business decision carries profound consequences for the enduring existence of the organisation, and this is no more true than when it is applied to those decisions affecting business growth. Knowing how and when to expand, open new branches, roll out new features or engineer new products takes planning…  Read more

Why the Four-Day Working Week Just Might Happen

“We need to do a better job of putting ourselves higher on our own ‘to-do’ list.” (Michelle Obama, former First Lady of the United States) The four-day work week has been in the news a lot recently with a number of significant studies and trials coming out in favour of the arrangement. While many would assume that workers are thrilled with four-day weeks, but that bosses are finding it hinders business,…  Read more

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