SAIT webinar: Completing tax returns (accounting considerations and adjustments) – 29 Oct 2014


SAIT will host a live question-and-answer session on the accounting considerations and adjustments when completing tax returns.

The session will be facilitated by Danie Schutte and will cover questions relating to his Essential Accounting & Bookkeeping seminar presentation earlier this year, as well as additional accounting-related problems experienced by members. Please email your questions to Nicolette Grobbelaar before the session.

When and where

  • 29 October 2014
  • 15h00 to 17h00
  • Online session presented live from Gauteng

Continuing Professional Development (CPD)

This event and successful completion of the online assessment will secure 2 hours verifiable output CPD points/units.


  • Monthly CPD subscribers: Free
  • Members: R290.00
  • Affiliated members: R300.00
  • Non-members: R350.00

Register for this webinar.


2015 ICBA brochure now available!

Do you currently hold an ICB qualification and have appropriate work experience? If so, you will be able to register for membership with the ICBA and put those all-important letters (designations) after your name. You can also enjoy a list of other benefits associated with being a member of a professional body.

Want to find out more? Download the 2015 ICBA brochure (PDF 430KB) over here.

ICBA members: Get a discount and CPD points with Upload Media

The Institute of Certified Bookkeepers and Accountants (ICBA) is proud to announce that we’ve secured a partnership with Upload Media. What does this mean? This will allow all registered ICBA members to receive a 20% discount when viewing video content on the Upload Media website.

Members can watch as many videos as they want, as often as they want, and whenever they want. Upload Media will provide ICBA members with Video Learning Statements, which will show how many hours of video they have watched during the year. These statements can be presented to the ICBA and earn members valuable Continuing Professional Development (CPD) points.

What is Upload Media?

Upload Media is a learning media company that offers cutting-edge learning technologies to educational institutions and independent learners. Its video learning Business Channel is a library of learning videos.

Each learning video represents a bite-sized unit of knowledge. They extend across multiple subjects including:

  • Bookkeeping
  • Financial and Managerial Accounting
  • Taxation
  • Human Resource Management
  • Payroll
  • Corporate Law
  • Credit Management
  • General Management
  • Corporate Governance and Ethics
  • And many more.

The videos also extend across different levels – from basic to advanced concepts – in the various disciplines. They are constantly updated to accommodate statutory, industry, recording and reporting requirements (including IFRS), and legal changes.

Upload Media’s Business Channel offers the ideal platform for Continuing Professional Development (CPD). It gives ICBA members and practitioners a simple solution – ensuring that their knowledge is always current, and that their verifiable CPD points requirements for continued ICBA membership is always up to date.

How to get started

If you’re a registered ICBA member and interested in taking up this offer, please contact the ICBA and we will email you a discount voucher and the relevant links.


New SARS Commissioner appointed

Article source: SA News 


President Jacob Zuma has appointed Thomas (Tom) Swabihi Moyane as the new Commissioner of the South African Revenue Services (SARS).

Moyane’s appointment is with effect from 27 September 2014.

Moyane, a development economist, recently served as the advisor on turnaround and security strategies at the State Information Technology Agency (SITA).

His qualifications include:

  • BSc Economics from the Eduardo Mondlane University in Mozambique,
  • Diploma in consulting to small Business from the University of the Witwatersrand,
  • and certificates in Strategic Management, Managing Markets from Henley, Micro-economics from London School of Economics and Mastering Finance from GIBS.

According to the Presidency, Moyane will bring more than 30 years’ experience to the position, having worked as a senior executive in various government and private sector entities.

He has served as National Commissioner at the Department of Correctional Services, as Chief Executive Officer for the Government Printing Works, as Managing Director for Engen Mozambique as well as Regional Coordinator for the regional spatial development initiatives and as Chief Director for Industry and Enterprise Development at the Department of Trade and Industry.

During his period in exile he worked for government departments in Mozambique and Guinea Bissau.

The President has wished Mr Moyane well in his new responsibility of steering SARS to the future,” said Presidential spokesperson Mac Maharaj.

Moyane thanked the President and the Minister of Finance, Nhlanhla Nene, for the confidence they have bestowed upon him.

I look forward to working with the successful team at SARS to assist to take forward all priority development programmes and policies.


New website improves CIPC

Article source: SA News 


The Companies and Intellectual Property Commission (CIPC) says it is encouraged with the response to its new look and online transaction website.

The new website was launched on 17 September, and the commission says it has received both positive and negative feedback.

This is a new website and a number of enquiries are attributable to clients being new to the site. However, there have also been some system challenges and CIPC has worked around the clock to sort out any problems,” said the commission in a statement on Monday.

The website has introduced new online transacting services, including a new company registration system, a new name reservation system, a new director and member change system and new systems for company and close corporation address and financial year-end changes.

A large volume of transactions has been received by the CIPC. The CIPC received:

  • 11,758 company registrations;
  • 2,637 address changes;
  • 23,668 annual returns;
  • 421 financial year-end changes;
  • 8,406 name reservations.

The CIPC implemented a query logging system with its new website. To date, the CIPC has received close to 2,000 queries on the new system, for which tickets have been issued.

The full turnaround time for these queries, including escalation, is 10 working days.

To date, 10% of the queries have been solved. The CIPC said some clients are logging the same query several times, which creates bottlenecks. It urged the public to log each query only once.

The CIPC acknowledges that there appear to be problems with slow response times on director changes and company registration,” said CIPC.

To deal with this, the CIPC has put in place a number of changes over the past two weeks, including increasing the bandwidth that it has and most recently, increasing the storage and memory on its infrastructure.

The CIPC also acknowledged that there have been problems with the allocation of funds to customer accounts, which has constrained clients, and notably intermediaries, from transacting on the website.

A system change was effected on 23 September 2014, which affected the automated allocation. The problem has since been corrected.


Betty Bookkeeper further explains how to record a vehicle on hire purchase – October 2014

Hi Betty 

I read your advice to Christelle (dated 15 July 2014) about the take-on of a HP vehicle. At the end of the financial year do I:

  1. Correctly assume that depreciation at the applicable rate is applied to this particular asset; and
  2. that the interest portion of the vehicle finance is DR to the income statement and CR against the loan on the balance sheet?

Kind regards,


Hi Al

That is absolutely correct! Thanks very much for your questions.  😉


Don’t forget that I’m here to answer your questions about the ICBA, or just queries about your accounting at work. All you have to do is email me!


SAAA webinar: The Protection of Personal Information Act (POPI) and its implications for accountants – 30 Oct 2014


The Protection of Personal Information Act of 2013 (POPI) has generated a considerable amount of media hype during the course of 2014. With the explosion of information technology and the ever increasing demand of clients seeking access to effective accounting solutions, practitioners need to familiarise themselves with the Act.

POPI not only necessitates the processing of clients’ personal information in a lawful manner, but also dictates accountability and associated responsibilities of such processing. It has therefore become paramount for any accounting practice to strike the correct balance when assessing the privacy of any personal information it is faced with.

Francis Cronje, a contributor to the Act and professional advisor to many large organisations, will share some of his thoughts and insights during this two-hour webinar.

Course content

  • Brief background on the Act and its origins.
  • Some key definitions and concepts.
  • The eight conditions and related aspects.
  • Why a Code of Conduct is of paramount importance.
  • POPI dilemma: Technological pros and cons.
  • Q & As

Continuing Professional Development (CPD)

Attendance of this seminar will accrue 2 hours’ CPD for members of a relevant professional body such as ACCA, SAICA, AAT, SAIPA, SAIBA, IAC, CSSA, ICBA, LSSA, FPI, and the IBA.

ACCA is a full member of IFAC. The ACCA CPD policy is compliant with IFAC IES7 and is recognised by SAICA, AAT, SAIPA, SAIBA, IAC, CIS and others.


  • Non-members = R250.00
  • SAAA members = R125.00
  • CPD subscribers = FREE

When and where

  • 30 October 2014
  • 10h00 to 12h00
  • Online

Register for this webinar.


SAIT tax seminars: SARS presentation on the new IT12TR – Oct/Nov 2014

Please note that SARS released a notice on 23 September 2014, introducing the modernised income tax return for trusts (ITR12T) and replacing the current IT12TR. SARS confirmed that effective 3 October 2014, the current IT12TR will no longer be accepted.

Some of the prominent features of the ITR12T include the following:

  • Expanded financial and legal reporting requirements;
  • Full details of all parties contributing funds, assets, etc. into the trust will need to be provided as well as details of the actual transactions made;
  • Trust details will be pre-populated;
  • Full details of any party benefitting in any way from the trust as well as details of the benefits received or enjoyed will need to be provided for every beneficiary; and
  • Assessment results will be available sooner than before.

SARS will deliver a brief presentation on the new features during the following upcoming Tax CPD seminar series hosted by SAIT:

Port Elizabeth






Cape Town

East London




Please note that the SARS presentation is scheduled from 12h30 to 13h30 and attendance of the SARS update session is not exclusive to the seminar delegates in the morning.

It is critical for tax practitioners to become familiar with the new requirements.

SAIT practical webinars: New objection and appeal dispute resolution rules – Oct/Nov 2014

A new training approach 

In an effort to improve its service offering to tax practitioners, the Education Department has taken the decision to use the new dispute rules, promulgated in terms of section 103 of the Tax Administration Act 28 of 2011 on 11 July 2014, as the basis for a pilot training program incorporating a new training and education methodology.

The workshop series will be based on a specific set of real-life facts, using the Kajadas Cosmetics case as the set of facts and applying the new dispute resolution rules to the court case.

As such the workshop series will take the train of thought of the dispute, explore alternatives (where appropriate) and then apply the new rules, forms and procedures as we go along addressing the actual practical challenges of disputes. Throughout the webinar series, a power of attorney, notice of objection and a notice of appeal will be completed in real-time to ensure that the delegate participants are made aware of all the possible pitfalls that may be encountered.

Objective of the workshop webinar series

Not all the rules and procedures will be covered. It will, however, result in the most important and common rules being covered in a practical manner, as would apply in the real world of tax disputes.

Requirements and study material

Registered delegates will be provided with a study guide and relevant material containing and setting out the course process and material required to work through – prior to the webinar. The purpose of this approach is to ensure participants are prepared and that learning can take place as efficiently and practically as possible.

This webinar series is therefore not aimed at members who need to critically analyse the dispute rules and relevant provisions in law, or to explore all possible avenues, but rather at those members who are new to disputes, uncertain how the rules will impact the normal dispute mechanisms or mainly engage in disputes on behalf of taxpayers up to the appeal process.

Course content

This webinar workshop series will be divided into four different sessions of two hours each, which will cover the following:

SESSION 1: 13 October 2014

1. Introduction

  • What is a tax dispute?
  • Types of tax disputes.
  • Tax dispute forums.

2. Mandate for dispute

  • Who may act in dispute?
  • What is required for various mandates?

SESSION 2: 20 October 2014

1. Preparing for a dispute

  • Questions to be answered.
  • Calculating time periods.
  • Delivery requirements.

2. Alternative remedies

  • What else can I do?

3. Request for reasons

  • Purpose of request.
  • What should be requested?

SESSION 3: 27 October 2014

1. Notice of objection

  • What are the grounds of assessment?
  • Common formality problems.

2. Assessing disallowance of objection

SESSION 4: 3 November 2014

1. Alternative dispute resolution

2. Notice of appeal

  • New grounds vs New objection

3. Questions and answers

For more information, please visit