Blog

Blog: May 2019

Depreciation vs wear & tear

Deterioration, obsolescence and wear and tear are among the reasons why assets decrease in value. By realising a deduction on depreciation for tax purposes, your company can recover the costs of certain moveable assets that are used in the production of income.

Value-added Remarks on Value-added Tax (VAT)

VAT is an integral part of our economic society and is something that influences everyone, especially businesses in South Africa. In this article, we will discuss a few do’s and don’ts regarding VAT.

1. Valid tax invoices

Junie 2019

 

Die son gaan lê vroeër, die koue sluip in en die verkleurde boomblare val een-een af. Winter is hier! Tyd staan nie stil nie, die eerste helfte van 2019 is verby. Belastingjaareinde het gekom en gegaan. Ons is gereed vir die volgende belastingseisoen wat voorlê. Hou vas, want die jaar vlieg verby!

The audit process

To get a better understanding of the audit process, we can take a look at the definition of an audit. Audit – “an official inspection of an organisation’s accounts, typically by an independent body”. An efficient audit is one that reduces the audit risk to the targeted level, ensures that there are no material errors contained in the financial statements and gives the stakeholders an independent reassurance that their interests are taken care of.