TAX BLOG

Tax Tracey Says - JUNE Taxation & Accounting Updates

Tax Tracey

Taxation - R & D Allowance:

 

See our attached article on Research & Development allowance- we are finding, as we perform independent reviews and audits, that some clients are not aware of this allowance.
 
It’s one of the few times that SARS gives you something extra.

R & D Allowance

 



EBITDA – Earnings before Interest, Tax, Depreciation and Amortisation:

 

A very relevant discussion attached on using EBITDA for valuations, as well as just using this to manage your business.
 
From a valuation perspective, EBITDA is a “quick” if somewhat unreliable method of placing an estimated value on your business – read the attached document for some insight!
 
We are reflecting this figure on all our Annual Financial Statements (on the Profit & Loss statement) as we believe it does cut through some of the issues which cloud true performance – such as depreciation and interest charges, which tend to obscure how well or not, the business is doing.
 
By using EBITDA, you also show the reader of your financial statements, the underlying profitability of the entity, which can be very different from the reported profitability, especially when large depreciation charges are occurring or the amortisation of goodwill is taking place.
 

EBITDA discussion


The Silent Tax War - Is SARS a playground bully or simply trying to combat fraud?


Thought this might be a good article to share with you and makes interesting reading

http://www.moneyweb.co.za/mymoney/moneyweb-tax/the-silent-war-sars-is-waging/
 


Tax Season is here from 1 July:

The next tax deadline is in August for provisional tax 2016, and Tax Season 2015 will open in July for submission of Tax Returns.

Please use our FREE Taxbox Calculator to check your tax deductions you might be unaware of.

If you require assistance with any TAX, VAT or ACCOUNTING problems you may have, please do not hesitate in contacting us, to assist with the following services we provide:


TAXATION SERVICES
BOOKKEEPING SERVICES
PAYROLL SERVICES
COMPANY SECRETARIAL SERVICES
FINANCIAL STATEMENTS
BUSINESS VALUATIONS
INDEPENDENT REVIEWS


Content compiled by Gavin Beretta
MBA, FCIS, CMT,CiMA - FINSOLVE Registered Accountants, 
Business Valuation and Tax Practitioners


Kind Regards,
Tax Tracey
June 2015