Constance Kawelenga, Author At Zuva Financial Services |

25 Sep 24

Tax Savings for the Hotel Industry in South Africa (Section 13bis)

Section 13bis of the Income Tax Act offers tax deductions for the erection or improvement of buildings used in the trade of hotelkeeping. If the building is used primarily for hotel-related activities, taxpayers can claim an annual allowance, provided certain conditions are met. Requirements for Section 13bis A taxpayer can…

25 Sep 24

Tax Savings for the Manufacturing Sector in South Africa (Section 12I)

The Section 12I Tax Allowance Incentive is a government initiative designed to boost South Africa’s manufacturing sector by supporting both Greenfield (i.e. new industrial projects that utilise only new and unused manufacturing assets) and Brownfield (i.e. expansions or upgrades of existing industrial projects) investments. This incentive offers tax benefits based…

21 Aug 24

Professional Indemnity Insurance for Medical Practitioners: Importance and Scope of Coverage

Medical practitioners dedicate their lives to healing and helping others, often working under immense pressure. While every doctor strives to provide the best possible care, the reality is that even the most skilled and compassionate practitioners can face unforeseen complications. In these moments, Professional Indemnity Insurance (PII) becomes a vital…

25 May 24

Understanding XBRL Reporting for South African Businesses

What is XBRL? XBRL stands for eXtensible Business Reporting Language. It is a technology standard for the electronic communication of business and financial data, increasingly adopted worldwide. XBRL offers significant benefits in the preparation, analysis, and communication of business information. It ensures cost savings, greater efficiency, and improved accuracy and…

24 May 24

Navigating IFRS 3 – Practical Strategies for Accounting in Business Combinations

Business combinations are integral to corporate growth strategies, enabling companies to expand their operations, diversify their portfolios, and increase market share. In the realm of financial reporting, adhering to International Financial Reporting Standards (IFRS) 3 is essential for accurately accounting for these transactions. Core Principles of IFRS 3 At the…

26 Apr 24

Why Small Business Corporation Tax Might Be Your Salvation

If you are a Private, Close Corporation, Co-Operative or Personal Liability company, then this salvation might be for you. The above-mentioned companies may be classified as Small Business Corporation if they meet the requirements of being as such (SBC). Let us look into what is required for a company to…

26 Apr 24

Tax Implications for Independent Contractors – Who, What and How

There really is no specific definition of ‘Independent Contractor’. According to the common law, the concept is merely another word for “Entrepreneur” or “Employer”, whereas according to the South African law traditionally, it refers to contract of locatio conductio operis. This term includes three types of transactions namely; The letting…

26 Apr 24

What Is the Size of Your Company? | Company Categorization by SARS

Registering a company with the Companies and Intellectual Property Commission (CIPC) automatically gets you registered with the South African Revenue Services (SARS) for Income Tax purposes. This means that your company is now a registered taxpayer and therefore is obliged by law to submit an Income Tax return. SARS classifies…

26 Apr 24

What Is Beneficial Ownership?

With crime activities such as money laundering increasing, it is crucially important for proper measures to be taken to mitigate the risks that give rise to such criminal activities. The national risk assessment identified legal persons as vehicles prone to abuse for money laundering and terror financing activities. As a result, the…

26 Apr 24

VAT and PAYE Registration

VAT Introduction and Registration Process If you are a person who carries on an enterprise and looking for efficient ways your business can pay less tax and also claim back tax on expenses incurred while carrying on trade, then this might be for you. The Value Added Tax Act defines…

Constance Kawelenga

Tax Savings for the Hotel Industry in South Africa (Section 13bis)

Tax Savings for the Manufacturing Sector in South Africa (Section 12I)

Professional Indemnity Insurance for Medical Practitioners: Importance and Scope of Coverage

Understanding XBRL Reporting for South African Businesses

Navigating IFRS 3 – Practical Strategies for Accounting in Business Combinations

Why Small Business Corporation Tax Might Be Your Salvation

Tax Implications for Independent Contractors – Who, What and How

What Is the Size of Your Company? | Company Categorization by SARS

What Is Beneficial Ownership?

VAT and PAYE Registration

Financial Record-Keeping and Reporting for Medical Practitioners in South Africa

Investment and Capital Gains Tax Planning Tips for High-Net-Worth Medical Practitioners

Financial Planning for Medical Practitioners in South Africa: Cash Flow Management and Budgeting

Understanding Beneficial Ownership: CIPC’s New Compliance Requirements

Disputing SARS Assessments: Understanding Your Rights and the Appeals Process

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