Saving for old age or even just for a rainy day is not possible to for many people. The emergence of the sandwich generation, the high debt levels and the pressing economy is all factors that has led to South Africans saving less and less. Many are not aware that SARS has introduced savings models that helps…

So, what not many people know is that we have already started our 2021 tax season and it is in full swing. We have entered what is called the employer filing season which runs from the 1st of April until the 31st May 2021. During this time employers are issuing IRP5’s and IT3 certificates to employees, banks are sending third party data…

Austral Accounting’s queen bean, Lynette van Nieuwenhuizen Lynette van Nieuwenhuizen gets what business challenges are about. With her excellent accounting and tax knowledge, she talks to us about Austral Accounting celebrating 30 years as a trusted confidant of many businesses and shares some valuable advice for small and established businesses. Lynette certainly shatters the accounting…

All Companies and Close Corporations must comply with the provisions of the Companies Act, Act 71 of 2008.  In terms of this Act a Company must have a financial year.  This means that there must be a start and an end date.  Most companies have their financial year end in South Africa on the 28th February…