Thousands of employees have had to work from home since the lockdown began at the end of March. This story has been one of the success stories of Covid-19, as companies have reportedly found that productivity has increased, travel costs are right down, and the work is still being done. Employees stand to reap a [...]
At Outcor we provide high-level Strategic planning, Financial management and related services, Business coaching and General management for companies, especially in the SME market. We work closely with the owners to make sure they are getting the most from their company. We do this by: Improved budget and forecasting to provide the owner information to [...]
A South African economy under pressure forced decision-makers in the SMME market to review the total composition of their organisations. Naturally, salary bills had to be cut, to ensure the survival of the business remained top priority. Unfortunately, the financial departments were also affected and have often led to circumstances proving detrimental to the organisation. [...]
Stay financially stable and compliant during COVID-19 Lockdown South Africa also received the horrifying news of a national lockdown period like the rest of the world. It, unfortunately, is a condition found in the Macro Economy and unavoidable. It is, however, important to remain on top of your business requirements and tackle the challenges head-on. [...]
Subsistence Allowance – Local A subsistence allowance is paid by the employer whenever the employee travels for business purposes and need to spend at least one night away from his/her usual place of residence. This allowance is given to cover meals, accommodation or incidentals costs. This allowance is given to you for the trip and [...]
Special rules apply with regard to the VAT treatment of rental pool schemes. For convenience and simplicity, in this Chapter – the words “owner” or “owners” are used to see owners and shareholders in sectional title schemes, time-sharing schemes and share block companies which participate in a rental pool scheme; the words “unit” or “units” [...]
The most common Tax deductions that are overlooked or missed by most individuals: Donations If you are donating to a registered PBO (Public Benefit Organisation) you can deduct 10% of your taxable income for these donations. If you exceed the 10% deduction for the year, the balance can be carried over to utilize in the [...]
On 20 February 2019, the South African Minister of Finance Tito Titus Mboweni delivered the South African budget speech for the 2019/2020 year. This is the first speech delivered by the Finance Minister Tito Titus Mboweni, and he is also the fourth finance minister of South Africa in three years, which all contributed to slow [...]
Whether you deal in plastics manufacturing, sheet metal fabrication or commercial cleaning, your B2B company has to find a way to manage its books. For some businesses, this means an in-house accountant or accounting department, depending on the company size. For others, it means finding a qualified bookkeeping service to which it can outsource its [...]
