South Africa needs a Flat Tax

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...

State Mismanagement estimated at 7% of SA Budget

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...

Personal Loans – what is a Mashonisa

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...

Land Expropriation

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...

Acting Sars Commssioner Mark Kingon

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...

IRBA vs IFAC

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...

New Tax Season deadline

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...

How to achieve Financial Independence

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...

Benefits of Shared Value

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...

Tips on applying new 15% Vat Rate

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...

Altcoin – alternative to Bitcoin

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...