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Depreciation vs wear & tear

  |   Tax

Deterioration, obsolescence and wear and tear are among the reasons why assets decrease in value. By realising a deduction on depreciation for tax purposes, your company can recover the costs of certain moveable assets that are used in the production of income.   Generally, businesses won’t be...

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Taxpayers’ right to have disputes resolved

  |   Tax

In a recent Tax Court decision[1], the Tax Court confirmed that taxpayers have a right to have their disputes resolved in a court of law as enunciated in section 34 of the Constitution. However, they cannot rely on this right when they are using delaying...

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Application for reduced assessments

  |   Business

Where taxpayers are aggrieved by assessments issued by the South African Revenue Service (SARS), the Tax Administration Act[1] makes provision for a dispute resolution process, whereby a taxpayer can request reasons for an assessment, object to an assessment, and if necessary, further appeal procedures are...

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The audit process

  |   Auditing

To get a better understanding of the audit process, we can take a look at the definition of an audit. Audit – “an official inspection of an organisation's accounts, typically by an independent body”. An efficient audit is one that reduces the audit risk to...

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Value-added Remarks on Value-added Tax (VAT)

  |   Tax

VAT is an integral part of our economic society and is something that influences everyone, especially businesses in South Africa. In this article, we will discuss a few do’s and don’ts regarding VAT.   Valid tax invoices   In South Africa’s current tax system, vendors that are registered...

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Win with Zuydamzest!

  |   Cooking

Who doesn’t enjoy a proper salad? Especially one with bacon!   Henk van Zuydam from Zuydam Konsult is cooking with food consultant, Heleen Meyer, in a series of short cooking episodes.   In this, the third episode, Henk and Heleen prepare a scrumptious salad. WATCH THE EPISODE (https://zuydam.co.za/zuydamzest/)   Zuydam Konsult is...

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