SAIT seminar: 2015 Budget and Tax Update – Mar/Apr 2015

Overview 

The 2015 Budget Speech is more keenly anticipated than ever, as we wait for the revelation of Government’s plans on how we will navigate through the economic and fiscal challenges facing South Africa. Indications are that this Budget will include significant amendments to the tax system, adding to the raft of tax amendments that have recently been promulgated.

This seminar will enable you to cut through the complexities of the Budget Speech and recent tax amendments, as it unpacks the detail in clear, understandable language. The seminar will inform you on recently-promulgated, forthcoming and proposed tax amendments and assist you to evaluate how these changes will impact on your, and your client’s, businesses so that you are well informed on how best to plan, make decisions and advise your clients.

Course content

1. The 2015 Budget Speech and related documents and announcements, including:

  • New tax rates, tables and exemptions.
  • Income tax amendments.
  • Donations tax amendments.
  • Estate Duty amendments.
  • VAT amendments.
  • Other proposals.
  • VAT on e-commerce transactions.
  • VAT on residential property developments.
  • Elimination of four-monthly VAT category.
  • Changes to record-keeping rules for PBOs.

2. Main tax amendments in 2014 and 2015 including:

  • New withholding tax rules.
  • Retirement reform proposals.
  • Source rules for pensions.
  • Changes to company car fringe benefits.
  • Small business tax incentives.
  • Disallowance of interest deductions.
  • Introduction of tax-free saving accounts.
  • Changes to the employment tax incentive.
  • Changes to provisional tax rules

3. Recent tax judgments, interpretation notes and rulings.

Who should attend?

Tax practitioners, business owners and managers, academics, advisors, auditors, accountants, bookkeepers, students and anyone else involved in and interested in business management, finance and/or taxation.

Continuing Professional Development (CPD)

This event and successful completion of the online assessment will secure 4 hours verifiable output CPD points/units.

Cost

OPTION 1 – Seminar

  • CPD subscribers: Free
  • SAIT members: R885.00
  • Non-members: R985.00

Click here for a list of venues and dates.

OPTION 2 – Dedicated webinar broadcast 

Presented on Monday 13 April 2015 from 09h00 to 13h00.

  • CPD subscribers: Free
  • SAIT member: R370.00
  • Non-members: R450.00

Click here to register for the webinar.

OPTION 3 – DVD and electronic course notes

This CPD event will be recorded and available to purchase on DVD from 1 April 2015.

  • SAIT members: R595.00
  • Non-members: R650.00

Click here to purchase the DVD.

 

SAAA webinar: How to unlock the goldmine sitting in your email (client) list – 18 Feb 2015

Overview 

Most accountants are unaware of the goldmine inherent in their client email list. This list allows you to:

  • Build ongoing relationships with prospects and clients that allow you to stay top of mind even if you cannot get to all your clients in person every month.
  • Promote ALL of your products and services to clients and prospects (how many of your clients know about every product or service that you sell? You are leaving tons of money on the table and email marketing can help with this).
  • Sell your products and services on autopilot.
  • Make money by selling other peoples products and services so that you can stop trading your time for money.
  • Put your marketing on autopilot so that once you have written a good marketing sequence, all of your clients and future prospects will automatically get the same sequence of messages – write once and benefit forever.

In this ground-breaking webinar you will learn:

  • What an auto responder is and how to set it up and use it (this is the software that runs in the background that allows you to manage your email lists and do all of the cool things listed above!)
  • How to set up different email lists for different purposes.
  • The difference between prospect and customer email lists.
  • How to get your emails delivered, opened and read (not as easy as you may think until you know some stealth ninja psychology)
  • How often to send emails to your clients.
  • What content to put in your emails.
  • How to make money every time you send out an email.
  • How to build long lasting relationships with your list.
  • How to use email marketing to get prospects to convert into paying customers.
  • Much, much more…

Continuing Professional Development (CPD)

Attendance of this webinar will accrue 2 + 1 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.

Complete a post-webinar questionnaire and earn an additional CPD hour.

Cost

  • Non-members = R 399.00
  • SAAA members = R 299.00
  • CPD subscribers = FREE

All prices include VAT.

When and where

  • 18 February 2015
  • 14h00 – 16h00
  • Online webinar

Click here for more information and bookings.

 

SAAA full-day seminar: Bookkeeping essentials – Mar 2015

Understand the fundamentals of bookkeeping and their application in business 

The basics of bookkeeping are essential in every business and in every industry. Understanding these principles will assist with the completion of the monthly bookkeeping cycle for those currently working in accounting, but will also assist non-accounting leaders who need the knowledge to oversee employees in financial positions and understand the bookkeepers’ duties.

This is a highly practical course, with examples and short exercises after each section. At the end of the course, participants will understand the bookkeeping and accounting cycles and be able to construct an income statement and a balance sheet.

Content

  • Understanding the bookkeeping and accounting cycles.
  • The accounting equation and how it forms the basis of daily life and bookkeeping.
  • Defining assets, liabilities, income, expenses and proprietary accounts.
  • Understanding the double entry system.
  • VAT calculations.
  • Completing journals.
  • Completing the general ledger and understanding its importance.
  • Extracting a Trial Balance.
  • Constructing a basic income statement and balance sheet.

Continuing Professional Development (CPD)

Attendance of this seminar will accrue 8 + 1 hours’ CPD for members of a relevant professional body such as ACCA, SAICA, AAT, SAIPA, SAIBA, IAC, CIS, ICBA, LSSA, IIA, FPI, and the IBA. The afternoon workshop will accrue 7 + 1 hours’ CPD.

Complete a free online assessment at the end of the event and receive an additional CPD point.

Cost

OPTION 1: Full-day seminar

  • SAAA members: R1,890.50
  • Non-members: R1,990.00

OPTION 2: DVD / Online recording and electronic course notes

  • SAAA members: R474.05 + R150*
  • Non-members: R499 + R150*

*An additional R150 courier fee will be charged for all DVDs.

All above prices include VAT .

When and where

All seminars will run from 09h00 to 16h30.

  • 10 March 2015 – Pretoria – Diep in die Berg
  • 11 March 2015 – Johannesburg – Wanderers Club
  • 12 March 2015 – Boksburg – The Airport Grand Hotel
  • 17 March 2015 – Durban – Riverside Hotel
  • 18 March 2015 – Cape Town – Lord Charles Hotel

Click here for more information and bookings.

 

Sage Pastel Payroll & HR workshop: Skills Development – Jan/Feb/Mar 2015

This workshop is intended for persons who support, or seek to support, skills development facilitation and administration e.g: 

  • Human Resource Administrators
  • Training and Development Officers
  • Payroll Administrators
  • HR generalists

What will be covered?

  • Skills Development Act
  • Sector skills plans
  • Skills development facilitator
  • Work skills plan and annual training report
  • Process for developing work skills plans and completing annual training report
  • Skills Development Levies and Grants
  • Preparing documentation for submission

Cost

  • R1, 400 (incl. VAT)

When and where

All workshops will be held in Johannesburg and will run from 09h00 to 15h00 (registration from 08h30).

  • 28 & 29 January
  • 4, 5, 25, 26 & 27 February
  • 5 & 12 March

Click here for more information.

 

Sage Pastel Payroll & HR workshop: Tax Year-end – Jan/Feb/Mar 2015

The tax year is almost over. Is your payroll information up to date and ready to roll over into the new tax year? Attend this tax year-end workshop for a complete understanding of the year-end process.

Topics of discussion

  • Updating to the latest software update to ensure the new SARS IRP5/ IT3(a) tax certificate validations are applied on your payroll information.
  • Correct setup of retirement funding income.
  • Reconciliation of tax deducted from your employees and balancing to the IRP5/ IT3(a) tax certificates.
  • Detect and correct user-errors which may cause your electronic submission file to be rejected and clearing of the IRP5/ IT3(a) exceptions report.
  • The statutory limits for pension and retirement annuity contributions.
  • Making use of the EMP501 report to easily reconcile tax and balance your EMP201 monthly returns.
  • Understanding the “Year End” period.
  • How to make successful backups of year end data.
  • How to create a copy company of year end information to refer back to when required.
  • Distinguishing between your live company data and your copy company data.
  • Rolling your live payroll data into the new statutory tax year in order to continue with salaries and wages for the first period of the new tax year.
  • Detailed guidelines that will assist in preventing electronic certificate rejections by SARS.

Cost

  • R1,100 (incl. VAT) per delegate

When and where

All workshops will run from 09h00 to 12h30 (registration from 08h30).

  • Johannesburg – 19 January; 4 & 5 February; 4 & 5 March
  • Pretoria – 20 January; 4 February; 4 March
  • Cape Town – 19 January; 17 February; 5 March
  • Durban – 19 January; 17 February; 5 March

Click here for more information.

 

Sage Seminars: 2015 Annual Payroll Tax – Mar/Apr 2015

Attend this seminar for a detailed discussion on the final legislation changes (effective from March 2015), the 2015 Budget proposals, as well as a glimpse into what the future holds for payroll matters.

You will qualify for 3 hours of CPD points!

Topics of discussion

  • Retirement Reforms – Where are we now, and where are we going?
  • Final PAYE law changes – Residential accommodation, company cars, restraint of trade, Income Protection schemes, etc.
  • Labour Law changes – Overview of the Employment Equity changes.
  • PAYE Administration – Tax certificates and related issues.
  • Employment Tax Incentive – Calculation changes and refunds.
  • The 2015 Budget proposals – This should be interesting…
  • Future prospects.
  • AA88 Penalty Notices – Changes that employers must comply with.

Cost

  • R2,217.00 (incl. VAT)

When and where

All seminars will run from 09h00 to 12h30 (registration from 08h30).

  • 02 March – Sage Conferencing, Woodmead
  • 03 March – Silverstar Casino, Muldersdrift
  • 04 March – Emperors Palace, East Rand
  • 05 March – Sage Conferencing, Woodmead
  • 06 March – Centurion Lake Hotel, Centurion
  • 09 March – Gateway Hotel, Durban
  • 10 March – Hemingsway Casino Hotel, East London
  • 11 March – N.M. Metropolitan University, Port Elizabeth
  • 12 March – Sanlam Head Office, Cape Town
  • 13 March – Crystal Towers Hotel, Cape Town
  • 16 March – CSIR, Pretoria
  • 17 March – Silverstar Casino, Muldersdrift
  • 18 March – Emperors Palace, East Rand
  • 19 March – Quest Conference Estate, Vanderbijlpark
  • 20 March – Windmill Casino, Bloemfontein
  • 23 March – Sage Conferencing, Woodmead
  • 26 March – Meropa Casino, Polokwane
  • 27 March – Emnotweni Sun Hotel, Nelspruit
  • 30 March – Gateway Hotel, Durban
  • 31 March – Sanlam Head Office, Cape Town
  • 01 April – Sage Conferencing, Woodmead

Click here to register.

 

3 resolutions to position your accounting firm for 2015

Article source: Accounting Today 

Once busy season begins, you’ll have precious little time to consider whether your accounting firm has made the right moves to build client relationships and grow in 2015. Instead, you’ll be feverishly working to meet imminent deadlines and to survive the grueling work schedule.

Studies have shown that accountants’ top pain points consistently include winning new clients, retaining current ones and managing a compressed workload. Now is the perfect time to work toward addressing these concerns.

Here are three resolutions accountants should make to help turn this busy season into your firm’s most productive ever in terms of developing business for the entire year.

1. I will use busy-season meetings to cultivate engagements for the rest of the year

As you talk with and meet with business clients in the coming days and weeks, commit to taking steps that will help secure advisory engagements during the rest of the year. For example, develop a list of all services your firm offers, using terms the client can understand or including examples. Distribute the list by email or in person to each client when you present their financials or tax returns.

Another option: Make sure you ask each client about their pain points or challenges so that you can look for opportunities to help with those issues. A client may tell you they worry about being able to retire and sell their business, or they may worry they aren’t keeping up with competitors. Asking questions and initiating dialogue will deepen the client relationship and reveal opportunities for additional engagements later in the year.

2. I will identify a key advantage our firm has over competitors

If every accounting firm touts its experienced and qualified partners, clients will see little differentiation and may overlook the value-added services and skills that make your firm superior. Consider identifying and marketing an industry niche or a specific service, such as business valuations or benchmarking, so that clients and prospects clearly understand how you are unique among competitors. Providing that information will help retain your top clients and attract better prospects.

3. I will utilise technology that makes my job easier

Compliance-related workloads keep many accountants busy enough that they find it difficult to focus on offering higher value-added services to clients, such as business planning, business strategy and business analytics. If you utilise technology that automatically analyses business financials and monitors the client’s business performance (including their performance vs. industry peers), you’ll find it easier to identify ways to plan and strategise with clients. Strategising with clients can translate into additional engagements.

A key to being successful with resolutions and keeping them is to make realistic resolutions. You don’t have to completely overhaul your practice in 2015 to make it better. Simply commit to working on these three items and by the end of the year, you’ll have a healthier accounting firm.

 

Betty Bookkeeper explains tax implications for a company car – January 2015

Hi Betty 

An employee gets a company car and a garage card (for business travel), but no travel allowance. The car is only used by this one specific employee – travelling from home to work, and client sites.

What will the tax implication be?

Thanks and regards,
Martha

 

Hi Martha

The monthly tax value of the use of the motor vehicle will be 3.5% (3.25% if the vehicle is subject to a maintenance plan for at least 3 years and/or 60,000 km) of the determined value of the vehicle (cost including VAT but excluding finance charges and interest).

For PAYE purposes, only 80% of the tax value must be included in remuneration (or 20% if the employer is satisfied that at least 80% of the use of the vehicle for the tax year will be for business purposes.)

On assessment, the full amount of the tax value will be included in the employee’s gross income. The employee must keep a log book of all business and private travel and may claim a deduction equal to:

The tax value of the fringe benefit
X
Business km per log book/Total km per logbook

Furthermore, if the employee bears the full cost of fuel for private use of the vehicle, then the fringe benefit is reduced by the rate for fuel which would apply for an equivalent costing vehicle per the vehicle deemed cost tables provided annually by SARS, multiplied by the private km travelled per the employee’s logbook.

Hope that helps!

 

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 two-day seminar: Key national regulators that can make or break your practice – Feb 2015

Overview 

Learn the inside secrets of how all major national regulators operate so that you can get things done! Accountants struggle with CIPC and other regulators to register the correct data and forms. This causes tension between accountants and their clients, which may result in a loss of business. Meet the regulators responsible for the systems that you and your clients have to use and get the inside information on how things really work:

  • Nomsa Motshagare (CEO, National Credit Regulator)
  • Sfiso Nsibande (Financial Manager, Construction Industry Development Board)
  • Tintswalo Nkuna (Compliance Manager, National Lotteries Board)
  • Adv. Lester Basson (Chief Master of the High Courts of South Africa, Department of Justice and Constitutional Development)
  • Phindiwe Mbhele (Director: Corporate Accounts)
  • Ronney Marhule (Director: Central Adjudication, Department of Home Affairs)
  • Advocate Eric Mkhawane (CEO, Office of the Tax Ombud)
  • Lumka Kemele (Trade and Industry Advisor)
  • Janeez Hafizulla (Deputy Director, B-BBEE Unit, the DTI)
  • Marumo Modiba (Senior Manager, Corporate Education and Voluntary Compliance)
  • Tina Rabilall (Compliance Manager, Corporate Education, Companies and Intellectual Properties Commission)

PLUS ready your practice for 2015 with the latest updates on a variety of technical topics. This comprehensive two-day seminar will focus on the most pertinent technical topics affecting your practice, as well as offer you the opportunity to have your questions answered directly by representatives of key regulatory organisations and government departments.

Course content

Day one: Key technical topics

  • Companies Act update
  • Directors duties
  • IFRS for SMEs update
  • Independent review and compilation engagements

Day two: Engaging with regulators on the issues affecting your clients

  • Key information on how the system works
  • Increase your success rate when filing forms
  • How to ensure that your applications and forms get dealt with by the regulators
  • What accountants are doing wrong when assisting clients
  • How can accountants better engage with the regulators on behalf of clients?
  • What penalties will be enforced for non-compliance?

Continuing Professional Development (CPD)

Attendance of this seminar will accrue 8 hours (one day) or 16 hours (two days) of CPD for members of a relevant professional body such as ACCA, SAICA, AAT, SAIPA, SAIBA, IAC, CSSA, ICBA, LSSA, FPI, and the IBA.

Cost

Option 1: One-day pass

Option 2: Two-day pass

Option 3: Online recording / DVD and notes

  • SAAA members = R 664.05 / day
  • Non-members = R 699.00 / day
  • Register here

All prices include VAT.

When and where

All seminars will run from 09h00 to 16h30.

  • 04 – 05 February 2015: Lord Charles, Cape Town
  • 09 – 10 February 2015: Amazing Place, Johannesburg
  • 16 – 17 February 2015: Riverside Hotel, Durban
  • 24 – 25 February 2015: Diep in die Berg, Pretoria