by Felmeg Accounting | Feb 8, 2019 | General
With Budget Day fast approaching it is worth dreaming of a better tax system. So, here we go. Hey Tito, how about a flat tax of 20%? It will save the economy, pay for social grants, and get business going again. It would be great if we could hit the reset button and...
by Felmeg Accounting | Oct 26, 2018 | General
The number crunchers at the DA have tallied up the amount of irregular, fruitless and wasteful expenditure in government departments and state-owned entities (SOEs) and it comes to a staggering R100,9 billion. Earlier this month the DA put the figure at about R76...
by Felmeg Accounting | Oct 15, 2018 | General
The country has seen a increase in new lenders in South Africa due to banks been so strict with FICA and the National Credit Act. These lenders offer unsecured credit agreements and are not governed by the NCR or any other government body. Mashonisa is used to...
by Felmeg Accounting | Oct 15, 2018 | General
The role of accountants and auditors will evolve as blockchain starts to embed into accounting practices. Human auditors will no doubt still run the process of defining audit standards and strategies. These will then be coded into a blockchain so transactions are...
by Felmeg Accounting | Oct 4, 2018 | General
Even though many people view cryptocurrencies as a speculative investment, it’s still worth adding it as a payment option if you run an e-commerce store. Several reputable stores already include cryptocurrency payment options, and the number is growing each week. In...
by Felmeg Accounting | Sep 18, 2018 | General
I have been a Tax Practitioner for over 10 Years and this mindset of Government to raise taxes and fuel prices etc are not a solution at all, if everybody were to pay their fair share of taxes there would be more than enough money in the coffers to run the country,...
by Felmeg Accounting | Sep 12, 2018 | General
Although this is not accounting related, the writer has decided to give FAS opinion in regards Land Reform. “I cannot see how productive pieces of land would be expropriated without market-related compensation. Nobody will convince me that the Constitutional Review...
by Felmeg Accounting | Aug 8, 2018 | General
The Independent Regulatory Board for Auditors (IRBA) has called on South African audit firms to produce transparency reports which provide insight into their operations, governance, leadership, culture, ethics, audit quality, transformation, and audit engagements,...
by Felmeg Accounting | Aug 8, 2018 | General
On 1 October 2018, Professor Mervyn King is handing over the role of chairman of the King Committee to Professor Suresh Kana. King has been chairman of the committee since its inception in 1992, and remains onboard in his new role as chairman emeritus. The move is in...
by Felmeg Accounting | Aug 1, 2018 | General
Mark Kingon has been at SARS for 34 years in a long and varied career that started in January 1984. On 14 March 2018, Mark was appointed as the Acting Commissioner for SARS. At the time of his appointment, he was the Acting Chief in the division called Business and...
by Felmeg Accounting | Jul 30, 2018 | General
The writer is of the opinion the IRBA and all the Accounting bodies needs to answer to a national controlling body.In the same way that audit regulators worldwide have sought to increase their own independence from the profession, in order to limit the influence of...
by Felmeg Accounting | Jun 12, 2018 | General
Taxpayers will have until 31 October to submit their tax returns, which is three weeks shorter than usual and will increase efficiency according to acting South African Revenue Services (Sars) commissioner, Mark Kingon. “A shorter filing season allows additional time...
by Felmeg Accounting | Jun 5, 2018 | General
Research shows that 24% of millennials are currently invested in a unit trust – versus only 2% among older generations – with 57% of millennials saying they invested in a unit trust with the purpose of increasing their net worth (1st) and 47% saying they looked to...
by Felmeg Accounting | May 22, 2018 | General
Business is driven by profit, Shared Value and how companies can use this business strategy to find where the biggest growth opportunities lies in the Shared Value approach reconnects business success with social progress, positing that it is not only possible but...
by Felmeg Accounting | Apr 12, 2018 | General
The Global Forum on Transparency and Exchange of Information for Tax Purposes (the Global Forum) published recently, nine peer review reports assessing compliance with international standards on tax transparency.Eight of these reports assess countries against the...
by Felmeg Accounting | Mar 6, 2018 | General
According to the date the goods are actually delivered or made available for collection. While prices advertised are deemed to include VAT, SARS says they understand that some vendors may have difficulty changing systems and things. Vendors will be allowed to...
by Felmeg Accounting | Feb 16, 2018 | General
Alternative coins refer to any other cryptocurrency that isn’t Bitcoin. Based on price growth and market cap, An analysis of the top performing altcoins from 2017 points to where altcoins will be headed in 2018. Ethereum Seeing a massive 36 018% return...
