Brendmo Chartered Accountants, Author At Brendmo Chartered Accountants

28 Jun 23

Directors: Prepare and Submit Your Company’s Beneficial Ownership Register

Brendmo Chartered Accountants

“The lack of adequate, accurate and up-to-date beneficial ownership information facilitates money laundering and terrorist financing by allowing criminals to hide their true identities, and the true purpose and/or source or use of funds.” (Financial Intelligence Centre – FIC) South Africa’s grey listing by the Financial Action Task Force (FATF)…

28 Jun 23

How to Prepare for a Possible Electricity Blackout

Brendmo Chartered Accountants

“Eskom plays a critical role in the life of South Africa, and life of South Africans. Due to its important role in the economy, its inability to provide electricity on demand and on time is a crisis.” (President Cyril Ramaphosa) The South African Reserve Bank’s Financial Sector Contingency Forum (FSCF)…

28 Jun 23

Is Your Information Safe With SARS?

Brendmo Chartered Accountants

“Confidentiality of taxpayer information has always been a fundamental cornerstone of tax systems… taxpayers need to have confidence that the often-sensitive financial information is not disclosed inappropriately, whether intentionally or by accident.” (Organisation for Economic Co-operation and Development – OECD) The confidentiality of taxpayers’ information has recently come under the…

28 Jun 23

Your Tax Deadlines for July 2023

Brendmo Chartered Accountants

7 July – Monthly Pay-As-You-Earn (PAYE) submissions and payments 28 July – Excise Duty payments 31 July – Value-Added Tax (VAT) electronic submissions and payments & CIT Provisional payments where applicable. Disclaimer: The information provided herein should not be used or relied on as professional advice. No liability can be accepted…

29 May 23

How to Use AI to Improve Your Small Business

Brendmo Chartered Accountants

“The amount of work we can automate with AI is vastly larger than before. As leaders, it is incumbent on all of us to make sure we are building a world in which every individual has an opportunity to thrive.” (Andrew Ng, Co-founder and lead of Google Brain) Artificial Intelligence…

29 May 23

New Trustee Duties: More Admin, Impossible Deadlines and Hefty Penalties

Brendmo Chartered Accountants

“A trustee has a responsibility to guard the assets of others with a higher degree of care than he does his own.” (John Ashcroft) Onerous new duties have recently been imposed on all trustees of all trusts – by government through legislative amendments, and also by SARS – in addition…

29 May 23

When to Say No to an Opportunity (or a “Barnacle”)

Brendmo Chartered Accountants

“The difference between successful people and really successful people is that really successful people say no to almost everything.” (Warren Buffet, Investor) Anyone who has ever started a business knows the feeling a new enquiry can generate. The excitement that things seem to be working, may make the new entrepreneur…

29 May 23

Can the R&D Tax Incentive Benefit Your Business?

Brendmo Chartered Accountants

“The government expects that, by encouraging companies to undertake R&D in South Africa, local companies will strengthen their capabilities of developing value-added products, technologies and services.” (Department of Science and Innovation (DSI) – South Africa) Research and development (R&D) is essential to boost innovation in the business sector, as it…

29 May 23

Your Tax Deadlines for June 2023

Brendmo Chartered Accountants

7 June – Monthly Pay-As-You-Earn (PAYE) submissions and payments 29 June – Excise Duty payments 30 June – End of the 1st Financial Quarter 30 June – Value-Added Tax (VAT) electronic submissions and payments & CIT Provisional payments where applicable. Disclaimer: The information provided herein should not be used or…

25 Apr 23

How You and Your Business Can Benefit from SARS’ Solar Tax Breaks

Brendmo Chartered Accountants

“The lack of reliable electricity supply is the biggest economic constraint… I am pleased to announce two tax measures to encourage businesses and individuals to invest in renewable energy and increase electricity generation.”(Finance Minister Enoch Godongwana – Budget 2023) In the 2023 Budget, the lack of a reliable electricity supply…