EMP501 and ROE Filing Season is Now Open The 2025 filing season is officially underway for both the Bi-Annual Employer Reconciliation (EMP501) and the Return of Earnings (ROE) to the Compensation Fund. If you’re an employer, now is the time to get your submissions in order to avoid penalties and ensure compliance. EMP501 Submissions to […]
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SARS Cracks Down on the R800 Billion Tax Gap – What You Need to Know South Africa’s 2025 Budget allocation has made one thing clear: SARS is intensifying its efforts to close the country’s tax gap, now estimated at a staggering R800 billion. This renewed focus means that taxpayers—both individuals and businesses—face increasing scrutiny, tighter
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Why Use a Registered Tax Practitioner? Here’s What SARS Says… “Protect Yourself – Use Only Registered Tax Practitioners” – this was one of SARS’ key messages this year, emphasizing the risks of using unregistered practitioners. To help taxpayers verify credentials, SARS has introduced an online tool for checking a tax practitioner’s registration status. At BGR,
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Budget 2025: Your Tax Tables and Tax Calculator Budget 2025: Your Tax Tables and Tax Calculator Budget 2025 will effectively bring about an increase in personal income tax by not adjusting the tables for tax rates, rebates, and credits, while also implementing substantial increases in ‘sin’ taxes. Furthermore, a 0.5% VAT increase will be introduced
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Budget 2025: How It Affects You and Your Business The 2025 Budget Speech has brought significant tax changes that will impact both individuals and businesses. The headline announcement is the proposed VAT increase of 0.5% in May 2025, followed by another 0.5% in April 2026. Despite strong opposition from various political parties, the government is
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What Should I Do If I Disagree with SARS? If you disagree with an SARS assessment, swift action and careful management of the dispute process will maximize your chances of a favorable outcome. This is because various deadlines must be met, a payment suspension must be requested, and a solid objection must be presented and
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Understanding Your Balance Sheet: A Key to Financial Health A balance sheet is a vital financial report for a business, providing a snapshot of the company’s financial health by detailing its assets, liabilities, and owners’ equity. It is essential reading for all stakeholders, including business owners, managers, lenders, and investors, as it offers valuable insights
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Choosing the Right Funding for Your Business: Bootstrapping or External Investment? Starting a business is both exciting and challenging. For many entrepreneurs, the biggest decision is whether to self-fund or seek external financing. From self-funding (bootstrapping) to venture capital, angel investors, and bank loans, each option has its pros and cons. Understanding these choices is
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Important Provisional Tax Deadline: What You Need to Know The second provisional tax deadline for the 2025 tax year is fast approaching—28 February 2025. This deadline is crucial because it requires highly accurate income estimates. If your estimate falls below 80–90% of your actual taxable income, SARS may impose a steep 20% under-estimation penalty. Audit
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Understanding Tax Compliance in 2025 Tax compliance in South Africa is entering a new era. SARS has made it clear: 2025 will bring intensified efforts to enforce compliance, with advanced data science, artificial intelligence (AI), and strict penalties for non-compliance leading the charge. Staying tax compliant isn’t just a legal requirement—it’s essential for the health of your
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