5 Tips for Using Reviews to Boost Your Business

In the history of business, little has been as effective in making or breaking sales as customer reviews. With Google now placing increasing relevance on tracking and promoting companies with genuine good reviews, this has never been truer than it is now.

Why Use a Registered Tax Practitioner? Here’s What SARS Says…

“Protect Yourself – Use Only Registered Tax Practitioners” was among the first messages from SARS this year. The message also highlighted the risks of engaging the services of unregistered practitioners and provided an online look-up feature where a practitioner’s registration can be verified.

SMEs Embrace AI to Boost Efficiency and Competitiveness

Small and medium-sized enterprises (SMEs) are increasingly turning to artificial intelligence (AI) to enhance their operations, improve customer experiences, and stay competitive in a rapidly evolving market. ​ A recent study published in the Journal of Business Management highlights the key AI applications being adopted by SMEs and the challenges they face in implementation. ​The findings reveal that while only 28% of SMEs have integrated AI solutions, those that have are seeing significant benefits. ​

The use of AI in SMEs

Artificial Intelligence (AI) is revolutionizing the way small and medium-sized enterprises (SMEs) operate, offering numerous opportunities to enhance efficiency, improve customer experiences, and stay competitive. Implementing AI in SMEs can seem daunting, but with a strategic approach, it can yield significant benefits.

Amendments to the South African Companies Act

The recent proposal by the Minister of Finance to increase the Value-Added Tax (VAT) rate by 0.5% on 1 May has sparked significant discussion. One of the key points of contention is the implementation of this increase without parliamentary approval, as outlined in Section 7.4 of the VAT Act.

The Institute of Race Relations Report

The Institute of Race Relations (IRR) has recently unveiled a report that underscores the substantial financial burden imposed by Broad-Based Black Economic Empowerment (BEE) premiums on South Africa. The report, titled "Cut VAT & BEE," estimates that the legitimate cost of BEE premiums in public procurement is approximately R17 billion per annum. To put this into perspective, this amount is equivalent to the cost of constructing around 42,000 kilometers of new paved roads, enough to stretch from Cape Town to Beijing and back.

Budget Highlights

Update on South Africa's 2025 Budget: Tax Proposals and Their Implications

In the 2025 Budget Speech delivered on March 12, Finance Minister Enoch Godongwana outlined several tax proposals aimed at addressing South Africa's fiscal challenges. These measures are designed to increase revenue and fund essential public services, impacting both individuals and businesses.

Understanding the South African Budget Process: From Proposal to Parliamentary Ratification

The South African budget process is a meticulous and continuous cycle that ensures government spending aligns with the country's policy goals and objectives. This process begins with the Budget Speech and culminates in parliamentary ratification, involving several critical steps along the way.

South Africa Increases Carbon Tax to Combat Climate Change

In a significant move to bolster its climate change mitigation efforts, South Africa has announced an increase in its carbon tax. Effective from January 1, 2025, the carbon tax will rise from R190 to R236 per tonne of carbon dioxide equivalent (tCO2e). Additionally, from April 2, 2025, the carbon fuel levy will increase by 3c/litre to 14c/litre for petrol and 17c/litre for diesel, as mandated by the Carbon Tax Act of 2019.

South Africa to Increase VAT Rate in 2025

In a significant move to boost revenue, the South African government has announced a two-phase increase in the Value Added Tax (VAT) rate. The first increase of 0.5 percentage points will take effect on 1 May 2025, followed by another 0.5 percentage point increase on 1 April 2026. This decision comes after careful consideration of the potential contributions of various tax instruments, with VAT being identified as an efficient and broad-based source of revenue.

Review of the 2025 Budget Speech

The 2025 Budget Speech addressed the economic stagnation of the past decade, with GDP growth averaging less than 2%. In 2024, the economy grew by only 0.6%, and medium-term projections estimate an average growth of 1.8%. The speech emphasized the need for faster, inclusive economic growth to meet developmental goals.

5 Things to Consider When Buying vs Leasing Equipment

As a business owner or financial manager one of the most important decisions you will make is whether to buy or lease the equipment your business needs to operate.

How to Save Big on Corporate Travel in 2025

Online meeting apps have absolutely boomed over the past few years. But in a post-COVID world, business travel is still an expensive necessity for many companies.

Disagree with SARS? Here’s How we Can Assist You

If you don’t agree with an assessment from SARS, swift action and careful management of the dispute process will maximise your chances of a favourable outcome.

6 Signs it Might be Time to Pivot

The biggest benefit of small businesses is their adaptability. It’s much easier for a small business to pivot and change course when things are going wrong.

IFRS Updates

Maximising Your Wealth: The SARS Foreign Investment Allowance

For South Africans looking to diversify their investments internationally, the South African Revenue Service (SARS) offers a useful tool - the Foreign Investment Allowance (FIA). This facility allows individuals to legally transfer funds offshore, providing them with access to global markets, asset protection, and financial growth. However, navigating the FIA requires careful planning to ensure compliance and avoid unnecessary risks.

The Enormous Benefits of Non-Profit Collaborations

A new year is often a time to rethink your strategy. One option you may not yet have considered is going into partnership with a charity or non-profit organisation.

What Your Balance Sheet Says About Your Business

A balance sheet is a vital financial report for a business, providing a snapshot of the company’s financial health by detailing its assets, liabilities and owners’ equity. These are also used to calculate important financial ratios.

Building a Business: Should You Bring in Funders or Go it Alone?

Building a small business on your own can be hard. It’s difficult to know just where each hour of work and precious cent should go to maximise growth. Product testing, marketing, website costs and infrastructure – these are not cheap and may be hard to put together all at once when starting out. This is why many turn to external investors for help.

Are You Ready for the Next Provisional Tax Deadline?

The second provisional tax deadline for the 2025 tax year is just days away (28 February 2025). It’s the trickiest and most important provisional tax deadline of the tax year, because the income estimates on which it’s based must be highly accurate. Estimates that don’t fall within 80 – 90% of your actual taxable income can expose taxpayers to a stiff 20% under-estimation penalty.

SARS Reports Over 2 Million Tax Directive Applications for Savings Withdrawals

The South African Revenue Service (SARS) has announced a significant milestone in the implementation of the two-pot system, with a total of 2,664,279 applications for tax directives received to date. Of these, 2,403,379 applications have been approved, resulting in a total gross lump sum payout of R 43.42 billion.