IRBA’s Auditor Skill Set Just Got a 2026 Update: Here’s What Changed
Thirteen years is a long time in most professions. In auditing, it’s the gap between the Independent Regulatory Board for Auditors’ (IRBA’s) last competency framework and the current proposed revision — and a lot has happened in that gap. Cloud accounting became normal. ESG and sustainability reporting went from niche to expected. Cybersecurity went from […]
A Corporate Tax Checklist for Business Owners
Submitting your company income tax return (ITR14) to the South African Revenue Service (SARS) involves far more than simply sending your trial balance to your accountant. Unlike individual tax submissions, corporate returns require detailed reconciliation across multiple operational tax types, including Value Added Tax (VAT), Pay-As-You-Earn (PAYE), and Provisional Tax. Missing key schedules or failing […]
Cybersecurity Meets Finance: Why IT Is Now Part of the Audit
For years, financial audits followed a predictable process. Management provided trial balances, financial statements, and sample invoices, while auditors tested transactions, reviewed bank reconciliations, and evaluated physical inventories. Today, businesses rely heavily on digital infrastructure, where financial information is generated through interconnected systems rather than traditional manual processes. The reliability of financial reporting is directly […]
Claiming Medical Scheme Tax Credits
Belonging to a registered medical scheme doesn’t just protect your health. It also comes with a built-in tax benefit. SARS refunds part of what you pay in medical scheme contributions through a system of tax credits, lowering your overall tax bill simply for staying covered. Do you know how it works, and if you qualify, […]
Auto-Assessments: Not Necessarily Final
Every year, millions of South Africans receive a SARS auto-assessment based on data that SARS already holds. However, while SARS has enhanced parts of its auto-assessment process and online tax assistant, it’s advisable to do a careful review before accepting. If you don’t respond, SARS treats that as you being in agreement with the assessment […]
Practical Habits for Building Long-Term Wealth
Many people associate wealth with high earnings, successful investments, or owning valuable assets. While these deliver a significant advantage, wealth is usually built much earlier in simpler ways by carefully managing income before it is spent. A person can earn well and remain financially vulnerable if expenses rise too quickly, debt is poorly managed, or […]
Improving South African Corporate Margins with Operational Business Audits
Operating a business in South Africa presents a specific set of demanding financial conditions. While the local economy experiences periods of cyclical stabilisation, corporate profit margins remain under constant pressure. Ongoing national infrastructure challenges, fluctuating fuel costs, and sticky operational overheads mean that top-line revenue growth no longer guarantees business survival. Consider a typical mid-sized […]
Your First Year of Self-Employment and Provisional Tax: The Mistakes That Generate Interest
Becoming self-employed changes the way you deal with tax. When you are employed, your employer deducts PAYE from your salary and pays it to SARS on your behalf. You receive your salary after tax, file an annual return, and usually do not have to think much more about it. Self-employment is different. You receive your […]
Tax Rules You May Not Agree With, But Need to Plan For
Do you ever get the sense that SARS sometimes wants to have their cake and eat it? By this, I’m talking about situations where it appears that having already extracted tax on a particular amount received, SARS takes a second bite at the cherry. And on the fact of it, that’s not fair! I often […]
SA Payroll and Tax Compliance for Non-Resident Employers
The 2026 Budget sorts out the PAYE anomaly, but is silent on SDL and UIF. A 2023 amendment to Paragraph 2(1)(b) of the Fourth Schedule to the Income Tax Act requires non-resident employers to withhold employees’ tax (PAYE) only where they conduct business in South Africa through a permanent establishment (PE). While this represented an […]