now, we have the secret ballot. With statements from senior members that amount
to an ultimatum, it doubtful that the vote of no confidence will, in itself,
remove Zuma. But, hopefully, the results of the ballot may send a clear message
to the ruling party that he has to go.
surprisingly, Window XP is still very popular, particularly among home users and
those frustrated by Windows 10. However, XP is no longer supported by Microsoft
and therein lies the problem.
is vulnerable to a new generation of viruses and malware, e.g., Wannacry.
Because of this hackers and authors of malicious code have targeted XP as a
if your XP PC is used to surf the web or has any other internet connection,
e.g., email, sooner or later it is likely that you will fall prey to these
parasites. If you do not have protection, you risk placing users in your contact
database at risk quite apart from the data loss you may experience.
patches are still available through reputable Microsoft accredited computer
dealers. However, there are also a number of programs available for added
protection. Some useful applications are CCleaner Free, IObit Malware Fighter,
Malwarebytes Anti-Malware and SUPERAntiSpyware.
is advisable to consult a reputable dealer before installing any software that
has been downloaded from the web.
Annual Duty – one
calendar month to the day after the incorporation date
Promotion of Access to
Information Act manual – 31 December 2021 extended
– 1 October 2016 to 31 August 2017
Manual by post or at SARS
drop boxes 22
eFiling or electronic
filing at a SARS branch 24 November
31 January 2018 Provisional
12 months after the applicable year end
clients should note that unless we receive all the relevant data and
documentation at least fourteen days before the applicable submission deadline
we cannot be held responsible for any punitive action taken against them by SARS.
Clients should be accumulating their tax paperwork now in order to facilitate
early submission once. The following should be provided to us:
of income such as:
from your employer or pension fund
certificates for investment income IT3(b)
Free Investments certificate(s) IT3(s)
statements (e.g. for business income, which includes the rental of property),
of deductions such as:
scheme contributions certificates and receipts
confirmation of diagnosis of disability form (ITR-DD) if you want to claim any
annuity fund contributions certificates
logbook (if you receive a travel allowance or use a company car), etc
not required to submit an Income Tax return
natural person or an estate of a deceased person is not required to submit a
return if the gross income of that person consists solely one of the
remuneration paid or payable from one single source which does not exceed
R 350 000 and employees’ tax has been withheld as required by the deduction
tables issued in terms of the 4th schedule of the Act;
interest (other than that earned on a tax free investment) from a source
in the Republic not exceeding –
R 23800 in the case of a natural person below the age of 65;
R 34599 in the case of a natural person aged 65 or older;
23800 in the case of a deceased
dividends earned by a person who was non-resident for the entire 2017 tax
amounts received or accrued from a tax free investment
regards paragraph (a) above, it is important to note the words “one single
source”. In other words, one cannot be exempt from rendering a return where
one has worked for a number of employers and the aggregate remuneration from
those employers had PAYE withheld but did not exceed R 350000.
of trusts as a protection against creditors
the past, when Sheriffs attempted to recover assets in satisfaction of a debt,
it was sometimes accepted that the assets concerned were in the creditor’s
wife’s name or in the name of a trust.
according to one financial reporter, proof of ownership is required and such
proof must be lodged with the Master of the High Court on registration or upon
change of ownership.
is also necessary to open a bank account in the name of the trust and provide
the Master with details thereof. Furthermore, the trust must be registered with
SARS and prepare and submit a set of annual financial statements signed by an
accounting officer when lodging the annual income tax return.
of meetings should recorded, especially when new assets are acquired. Any
invoice or other documentation relating to the assets should, preferably,
reflect the name and registration number of the trust.
a beneficiary or trustee occupies a property owned by the trust, a lease should
be entered into and signed by all parties to the trust.
to adhere to these requirements may result in the courts ruling that no trust
exists. Aggrieved creditors would then be entitled to proceed against the
founder and trustees to recover their debt.
comments by the Public Protector and other influential individuals are
indicative of " growing political pressure for less independent monetary
policy, a key pillar in our assessment of South Africa's gradually deteriorating
institutional strength," Moody's lead sovereign analyst for South Africa,
Zuzana Brixiova, said in an emailed research report. "It also sends another
unclear signal about the policy direction at a time of very low and falling
business confidence, and coincides with governance issues at state-owned
enterprises." This may well
result in a downgrading of the country’s sovereign credit rating when that
agency conducts its review on 11 August.
announcement by the speaker of the house to conduct a secret ballot on the vote
of no confidence has made a slight impact on exchange rates but, even if Zuma
goes thereafter, it is unlikely to make a major impact on Moody’s decision on
whether the credit rating drops or improves. Some commentators believe that a
government, lead by the present speaker, and the wholesale resignation of the
president’s corrupt cronies may well lead to a downgrade.
2009, SA fell into recession because of the global economy. However, the global
economy is now in recovery but, alas, SA is not. Why?
This is mainly due to the widespread corruption and highly indebted state
owned companies relying on the government for handouts to enable their recovery.
Surviving on handouts, SAA has been loosing money since 2011. Escom, unable
or unwilling to take action against township based debtors and illegal
connections, is in debt to the tune of R 350 billion and the government is in
dire straights where it cannot raise capital on favourable terms and, if junk
status is confirmed, may not even be able to meet its debt payment obligations.
along came Minister Zwane’s new mining charter. The Reserve Bank’s governor
has slammed the minister’s move to halt the awarding of mining rights. The
mining sector is a highly significant role player in South Africa. The new
charter is highly unlikely to attract new investment when a shaft may take up to
30 years before becoming profitable.
your age by friends, not years. Count your life by smiles, not tears.” - John