ACS Accounts

We will be changing over to a new time and billing system over the next 4 months. We hope that this will not cause any disruptions, and should make things more efficient for us. If any clients would like to switch over to a debit order payment (we offer a 5 % p.a. discount for this option), please contact Jenilee for a quote for the amount.

BEE EME Certificates

With the new BEE codes we will no longer be able to issue a BEE certificate for EME’s (turnover under R10 million), an affidavit will replace the certificate.  A template for the affidavit will be made available for download on our website, this can be brought to our office to be certified.

Upcoming Deadlines

  • 30 September 2015 – Manual submissions for income tax (2015)
  • 30 September 2015 – 3rd Provisional tax for Feb year end clients (2015)
  • 1 September 2015 – 1st Bi-Annual submission of EMP501 Recons Opens (2016)
  • 1 October 2015 – Manual submission of Employment Equity Reports
  • 30 October 2015 – 1st Bi-Annual submission of EMP501 Recons Closes (2016)
  • 27 November 2015 – Electronic submissions (2015) (non-provisional tax-payers)
  • 31 December – 1st Provisional for Jun year end clients (2016)
  • 31 December – 3rd Provisional tax for June year end clients (2015)

SARS – New cheque payment rules

As from 30 Aug 2014 taxpayers can no longer pay by cheque if they have more than 2 ‘refer to drawer’ cheques in 3 years. The cheque payment limit has decreased to R50 000 per payment. For more information refer to the SARS website.

Requirement for All Businesses to have a PAIA / Section 51 Manual – DEADLINE 2015

This is just a quick reminder to inform you about a South Africa Business Act that could have impact on your business.  Please take a moment to read it.

During 2000 the government passed the Promotion of Access to Information Act (known as the PAIA Act).  The aim of this Act is to allow members of the public to know who they are dealing with in a business.

According to the Act, all public and private bodies must have a PAIA Manual (also known as a Section 51 Manual).

Extensions for some businesses have been granted until December 2015 to submit their manuals to the SAHRC.  Even if you qualify for an extension on the submission date, you still need to have a valid PAIA Manual available on request.  This means all businesses need to have one.

ACS Training – Basic Business Administration

Due to a number of requests from clients, we are going to be offering a training seminar during September/early October on basic business administration. The seminar will cover the following;

  •          Taxation (deductions, allowances, difference between the taxes, basic computations)
  •          Payroll (registration, PAYE, SDL, UIF, W.Comp, returns, recons, packages)
  •          Business structures (Sole trader, Company, Trust, Partnership, JV, NPO, administration, taxes)
  •          VAT (registration, records, thresholds, deadlines, diesel)
  •          Accounting records (accounting packages, retention of documents, filing, basic interpretation of financial statements)

If you are interested in attending, or want further information, please email wendy@acsaccounting.co.za, so we can get an idea of the numbers for planning/costing purposes.

Payment advice notice (PAN) on E-filing

SARS have released a new payment functionality on e-filing due to all the errors that have occured in the past with the incorrect entering of the PRN Numbers. The new payment advice notice functionality will only be available for payments linked directly to a return on e-filing. For more information the SARS guide is available on our website.

SARS New Single Registration System

SARS is introducing a new single registration system from May 2014. Once this project has been rolled out all taxpayers, traders and tax practitioners will have a single interface to SARS for their registration/licensing/amendment needs. This project should result in a faster turnaround time and simpler processes. We will keep you updated with the project as we receive information from SARS.

Employment tax incentive (ETI)

The Employment tax incentive came into effect on 1 January 2014. The aim of this incentive is to encourage employers, who are registered for PAYE, to hire young workers and give them work experience over the medium term. This incentive will apply to staff members, excluding domestics and related employees, with valid South African ID documents aged between 18 and 29 years old that were hired on/after 1 October 2013 and earn between R2000 – R6 000 per month. The employees will only be eligible to claim the incentive for 24 months while they fall into the age bracket, the months do not need to be consecutive. The incentive will be calculated according to their monthly salary and will half in the last 12 months that they are eligible. Employers must be up to date on all their taxes to be able to claim and can be penalised if the incentive is exploited or abused. There is a full summary and an example of the incentive available on our website; alternatively you can contact Christel (christel@acsaccounting.co.za) for information.