Forvis Mazars Messenger June 2019

In this issue:
1. The Future of Banking
2. Reduce your tax liability through your employer
3. Don't be caught napping with your travel allowance claim - get your refund
4. Small business owners - Don't overlook your new compliance requirements 
5. Detect fraud in your business 
6. What is an "alternative director"? 
7. Your July Tax deadlines

Download the full edition or click through to read individual articles on the pages below: 

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Messenger June 2019 Edition

Your Tax Deadlines for July 2019 and Good News for Taxpayers

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Firstly, there are no major deadlines in June but tax season opens in July, so make sure you have all your documentation ready for your 2018/2019 Income Tax Return.

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What is an Alternate Director? A Curious Role…

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Inevitably, there will be times when one or more of a company’s directors are absent and have to miss board meetings – perhaps through illness, frequent travel, taking of leave etc. But the company’s operations must continue regardless, and to provide for those situations the Companies Act provides for the appointment of an “alternative director” to fill in for a particular director when need be.

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Detect Fraud in Your Business

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Running a business brings many rewards, but also a host of risks and challenges. One of the more common of those is internal fraud. It can have devastating consequences for your business and its reputation, undermine staff morale and jeopardise relationships with your suppliers, your investors and the compliance authorities.

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Small Business Owners: Don’t Overlook Your New Compliance Requirements!

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Compliance requirements for businesses are becoming more onerous. Small businesses in particular increasingly have to perform a balancing act between optimising their limited resources on the one hand and weighing up the consequences of non-compliance on the other.

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Business travellers urged to keep accurate logbooks

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The 2019 filing season for the submission personal income tax returns through eFiling will commence on 1 July 2019. In preparation for the filing of the income tax return, it is recommended that those taxpayers who receive a travel allowance make sure that their 2019 logbook meets all of the requirements laid out by the South African Revenue Service (SARS).

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Reduce your tax liability through your employer

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If you have children at school or university you have the opportunity to significantly reduce the tax payable on your salary by reducing the amount of PAYE that is paid to SARS.

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The Future of Banking: Crypto, Blockchain, and Fintech

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Inscribed in the first block of the first blockchain ever created are the words: “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks,” refer- ring to the London newspaper’s lead story of the day.

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