Gift Shava, Author At Brendmo Chartered Accountants

05 Dec 22

Christmas and December Is a Month for Giving for Most Businesses but What Are Its Tax Implications

Gift Shava

“Think of giving not as a duty but as a privilege.” (John D. Rockefeller Jr.) Christmas is a time for giving, and in our local business environment, as well as in many other markets around the world, it may even be unofficially expected of companies to give generously to their…

15 Aug 22

Benefits and Risks of Microinsurance for SMEs

Gift Shava

“Do you know the difference between education and experience? Education is when you read the fine print; experience is what you get when you don’t” (American singer and social activist, Pete Seeger) Microinsurance refers to an area of cover made accessible to low-income individuals and businesses at relatively low cost.…

25 Jul 22

Letter of Demand from SARS? Handle With Care!

Gift Shava

“A senior SARS official may authorise the issue of a notice to a person who holds or owes or will hold or owe any money, including a pension, salary, wage or other remuneration, for or to a taxpayer, requiring the person to pay the money to SARS in satisfaction of…

11 Jul 22

What To Do When Preparing to Sell Your Business

Gift Shava

“As much as you might love running your business, you must have an end-goal in the plan. At the very least, an exit strategy keeps you from turning your business into a glorified job – working from home, but with longer hours.” (Kevin J. Donaldson) A new year beckons, and…

13 Jun 22

How to Build Your Business with Freelancers

Gift Shava

“The gig economy is empowerment. This new business paradigm empowers individuals to better shape their own destiny and leverage their existing assets to their benefit” (John McAfee) The modern world of work was already changing by the time Covid-19 hit. The “gig economy” had taken hold and numerous apps allowed…

02 Aug 21

5 Most Common Tax Pitfalls That Small Business Owners Should Avoid

Gift Shava

This article will identify five common tax pitfalls that many small businesses, especially newly established ones, overlook. This situation is because the owners of these companies often do not have tax expertise, or they are unwilling to use a professional to ensure that their tax affairs are in place. Small…

12 Jul 21

13 Reasons Why Bookkeeping Services Are Important

Gift Shava

Bookkeeping is important for helping you maintain accurate financial records. Yet still, many businesses fail to implement this integral process. Besides the fact you are required under law to maintain accurate books and records, doing so will save you frustration later on. In fact, “poor accounting” is one of the…

21 Jun 21

2022/2023 Individual Income Tax Guide in South Africa

Gift Shava

Taxes can be a confusing subject to many people — what is individual income tax, are you required to file your taxes yourself, when does SARS expect you to file your tax returns, what happens when you don’t file your individual tax return, etc. These are some of the questions…

14 Jun 21

7 BIG Tax Mistakes Business Owners Make & How to Fix Them

Gift Shava

In this article, I’ll be going over the biggest tax mistakes that I see small business owners in South Africa make that not only cost them time but also money. Now I completely understand that if you’re reading this article chances are you’re not an accountant or tax practitioner and…

07 Jun 21

Tax Guide for SMEs – Everything You Need to Know to Avoid SARS Penalties

Gift Shava

In this article, I’ll be going over everything you need to know about tax filing for your business and avoiding South African Revenue Service (SARS) penalties. Your business has tax requirements that must be met in order to comply with SARS and avoid unnecessary penalties and interest from SARS. Just…