bdk Auditors | Latest News

BIG FIRM CAPABILITY, SMALL FIRM PERSONALITY

bdk Auditors | Latest News

November 10, 2020

The who, where, why, what, how, and when of the POPI Act

Since the POPI Act came into effect on the 1st of July 2020, many businesses have had to rethink the way that they use and store information […]
November 10, 2020

Don’t suffer the tax consequences of waived debt

Many natural persons or trust shareholders in companies are confronted with the unintended tax consequences of owing an amount on a loan account to the company in which they […]
October 2, 2020

Changes to employer scholarship tax exemptions

Over the past several years, many employers and employees have made use of the beneficial tax treatment of bursary and scholarship schemes, as provided for in […]
October 2, 2020

Incomplete VAT returns: A downhill battle

Section 45 of the Value-Added Tax Act makes provision for the payment of interest on delayed VAT refunds. In terms of section 45(1) of the Act, the South African […]
September 1, 2020

Tax assessment errors: What do I do now?

With the 2020 tax filing season in full swing, many taxpayers will likely engage in dispute proceedings as SARS issues their income tax assessments. This will particularly be […]
September 1, 2020

Beware of scams during filing season

In late August 2020, a large credit bureau in South Africa was the target of a data breach where millions of private individual and company data records were compromised. This data leakage, coupled with the tax filing season, makes for the perfect opportunity […]
August 4, 2020

Does your home office qualify you for a tax deduction?

As the old adage goes, change is as good as a holiday. But the way that the novel coronavirus has shaken up the world we live […]
August 4, 2020

SARS auto-assessment SMS communication

In response to COVID-19, the South African Revenue Service (SARS) has tried to simplify the tax filing process for individual taxpayers and remove the need to […]
July 2, 2020

Setting your business up for expansion

When businesses expand, they often look beyond national borders. With such an expansion, there are several added advantages for establishing a holding company, which then owns […]
July 2, 2020

Timeframe for the export of goods during the Covid-19 pandemic

Interpretation Note 30 (“IN 30”) by the South African Revenue Service (“SARS”) explains the requirements that need to be adhered to and prescribes the documentary proof, […]
June 17, 2020

Reliable cash flow forecasting and minimisation of unauthorised spending in the agriculture sector

bdk Software Solutions is a South African company that specialises in offering consulting services on cloud accounting solutions. They strive to maximise their clients’ productivity and […]
June 3, 2020

Tax statutes: It’s all about context

Decisions of South Africa’s courts are an essential source of law. The courts uphold and enforce the Constitution and develop common law that is consistent with […]
April 30, 2020

Transferring assets from persons to companies

Many business transactions are concluded in terms of section 42 of the Income Tax Act. This section essentially allows a transfer of an asset by a […]
April 30, 2020

A single supply of services: which VAT rate applies?

On 3 April 2020, the Supreme Court of Appeal delivered a judgement against Diageo South Africa (Pty) Ltd (“Diageo SA”) in a value-added tax (“VAT”) matter […]
April 15, 2020

The give and take of share transfers

Many business transactions are concluded in terms of section 42 of the Income Tax Act. The section essentially allows a transfer of an asset by a […]
April 15, 2020

Practical Considerations in Claiming SARS COVID-19 Relief

While South Africa is currently in a state of lockdown during which a significant number of businesses have had to cease operations, some relief from a […]
April 3, 2020

COVID-19 | SARS relief measures

In this article we analyse the various relief measures made public by the government of the Republic of South Africa. We aim to communicate how South […]
March 4, 2020

You should get a financial advisor

It’s not to say you spend finances irresponsibly, but having a reputable financial advisor comes in handy. Depending on your financial needs, your advisor may be […]
March 4, 2020

Section 7C – a practical explanation

What is section 7C? This section of the Income Tax Act is an anti-avoidance measure aimed at transactions between connected persons and trusts, where a trust […]
February 5, 2020

What to do when the taxman comes?

With the tax filing season for individuals now closed, taxpayers may find themselves with tax debt that is due. This may be due to administrative penalties […]