RESOURCES
Advice and Insights into Best Accounting Practice, Bookkeeping, Tax and more for all South African individuals and businesses…
Talking Tax – Don’t get caught out by SARS complicated tax rules
South Africans are very creative when it comes to finding loopholes that enable them to pay less tax. Is it because our taxes are so high? The answer is ‘possibly’. South Africa’s tax structure taxes the individual which is problematic. Most of the country is unemployed and retrenchments have been...
3 ways to make tax compliance easier for small business owners in South Africa
Many small business owners have their hands full with tax-related paperwork. If you’re one of them, the admin probably ranks low on the list of your favourite things to do, says Yolandi Esterhuizen, registered tax practitioner and director at Sage Africa & Middle East. However, filing accurate...
Why Accounting Skills Are Indispensable for Entrepreneurs
Entrepreneurs need to draw on a wide variety of skills to succeed. In the course of a single day, you may wear 10 or more different proverbial “hats.” In other words, you may take on 10 or more different responsibilities throughout the day. On top of that, you’ll be in charge of making decisions...
You can now be fined or jailed for small tax mistakes. Here’s a list of the errors to avoid
New legislation means that inadvertent tax errors could land you with a fine or jail time. SARS won't have to prove that you wilfully broke the law when it comes to a long list of offences. The list includes failing to keep records and not alerting SARS of a change in your personal details....
Can Salaried Workers in South Africa also claim for Home Office Tax Relief?
The South African Revenue Services has previously allowed the deduction of home office expenses in the determination of taxable income where taxpayers earn mainly commission or are independent contractors and freelancers. However due to Covid-19, the work environment was forced to make certain...
Talking Tax : Are your tax needs really that unique?
Tax – whether it be for your business or your personal needs – is about far more than simply filing tax returns. SARS has developed one of the most advanced tax calculation systems in the world. Your tax is calculated automatically and you then need to agree to whether the figures that SARS has on...
Why you need a Registered Accountant and Tax Practitioner
The right accountant is a combination of a few things, the most important two being skill and their registration with the relevant governing bodies. But you should also look at aptitude, even though this is more difficult to quantify, because though someone may have all the training in the world,...
Talking Tax : Let’s make the proper introduction to income tax to you…
Very few of us were taught about tax growing up. That’s why we’re bringing you our ‘Talking Tax’ series which focuses on the things that you need to know about tax in South Africa. In this edition we will be talking about why getting you tax returns reviewed by a qualified tax specialist is so...
Your Financial Reality thanks to COVID-19. How to Cope
If one thing is for sure, it is that everyone across the world is being affected by the COVID-19 pandemic in not-so-pretty ways. For many business owners in South Africa, and particularly small businesses, this time has been particularly harrowing and difficult. Sleepless nights have become the...
Expat tax: Countdown to implementation kicks off
An amendment to the Income Tax Act will bring considerable change to the expat landscape as from March 1, 2020. Jean du Toit and Jonty Leon are the technical editors of the publication "Expatriate Tax - South African Citizens Working Abroad and Foreigners in South Africa". Amendments to the Income...
Based in Cape Town, South Africa, MSO Accounting Group is an Accounting Specialist and Tax Consultant serving small to medium size businesses, sole proprietors and individuals. In addition to providing a comprehensive suite of Bookkeeping, Accounting, Tax, VAT and Payroll services, we assist our clients to achieve financial security and make the most of their income by providing expert financial advice and guidance.
Telephone: +27 (21) 879 3719
Email: office@msoaccounting.co.za