Hi Betty I will be earning commission only, how do I work out my tax on that? Regards, Rita Hi Rita Commission forms part of gross income earnings therefore normal TAX per the TAX table rates will apply. Hope that helps! Don’t forget that I’m here to answer your questions about the ICBA, or just queries […]
Hi Betty This question is regarding tax returns. When I completed my Diploma – Technical Financial Accountant I applied with SAIT for membership but I was declined membership as they said even though I had the qualification I did not have enough experience regarding tax returns. I’ve been looking for employment to gain this experience […]
Hi Betty I’ve been asked by a client to do the bookkeeping transactions for their property that they rent out. Please confirm how I record the monthly payments on their bond. The property value is R1 million – the outstanding bond amount is R45000 and the monthly bond payments are R600 per month. Regards, Zoe […]
Being a member of a recognised professional body, like the ICBA, requires members to meet a minimum number of Continuous Professional Development (CPD) points per annum to retain membership. The ICBA has entered into an agreement with the South African Accounting Academy to bring specialised CPD events which have been tailored to ICBA members […]
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Staying current with regards to market trends, industry knowledge and new skills is vital for securing your job or re-entering the marketplace, but it can equally help to advance your career and earning potential. Remaining current and in touch with changes within your field is imperative and will certainly give you the competitive edge, whether you […]
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Hi Betty I was wondering if you would be able to assist me with more information regarding what I need in order to buy into a partnership of an accounting firm. What qualifications and accounting institutes do I have to sign up for in order for me to buy shares in the partnership of the […]
The KPMG Gupta scandal has revealed the serious engagement risk faced by accounting firms. A lack of engagement quality control and failure to do proper client acceptance procedures has cost KPMG a number of clients and huge public embarrassment. Nicolaas van Wyk, CEO of the Southern African Institute for Business Accountants (SAIBA), is presenting a course th […]
Hi Betty Can Vat be charged to customers if we are billing them for Kilometers? We are not charging them for fuel, just the km as part of the service. Regards, Nadine Hi Nadine If you are recovering travel costs incurred as part of services rendered to the client then yes, you will be required to […]