AJS Accounting Services Inc.

17/11/2021

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18/07/2021

UIF TERS UPDATE ⚠️

Please note attachment that will further guide
you in your Covid19 claim process.

TERS updated letter on the new direction
New Direction ( Covid19ters)

Copies of excel template for Annexure A and
B establishment ( please use correct template ) Annexure A - Listed Sectors Annexure B - Listed Sectors

30/06/2021

📌Notice 30 of 2021

President Cyril Ramaphosa announced on 27 June 2021 that South Africa will move to an adjusted level 4 lockdown with effect from Monday, 28 June 2021 until 11 July 2021, after which the status quo of the country regarding the delta variant of COVID-19 will be assessed and the lockdown level reviewed ⛔️

29/06/2021

EThekwini closes its facilities for public use

Following the announcement by President Cyril Ramaphosa to move the country to lockdown alert level 4, eThekwini Municipality advises the public about the closure of its facilities for public use. This is to ensure the safety of employees and the public. The following amenities will be closed for public use until further notice.

1️⃣LIBRARIES AND HERITAGE SITES
All libraries, museums, art galleries, theatres and heritage sites are closed to the public. All books due will be extended until the end of July.

2️⃣BOTANIC GARDENS AND FENCED PARKS
Only a maximum of 100 people will be allowed in at a time. No picnics, braais, photoshoots, group exercise, alcohol consumption or social gatherings will be permitted. Walking of pets, individual exercise, jogging, walking or trail biking (where applicable) are permitted.

3️⃣UMNGENI BIRD PARK AND MITCHELL PARK ZOO
The uMngeni Bird Park and Zoo will be opened to allow a maximum of 100 people at a time. However, the bird shows will not be operating under alert level 4. No groups, tours or school groups will be permitted.

4️⃣BEACHES
Beaches will remain open for swimming. However, people will not be permitted to swim in groups. No alcohol consumption, picnics (in places that permitted such), or religious ceremonies will be permitted at beaches. No group surfing, training or running groups will be allowed on the beaches. Likewise, no group bookings for beach activities on the beach or the grassy areas will be permitted. Fishing is still permissible, but not in groups.

5️⃣NATURE RESERVES
Nature reserves remain open for individual exercise and walking for enjoyment. However, group walks, bird hiking or trail riding will not be permitted. Likewise, no picnics or braais will be allowed. The maximum number of people allowed in reserves is 100.

6️⃣CEMETERIES
Cemeteries are open to the public for funerals. However, the maximum number of persons allowed at any funeral is 50 as per the lockdown regulations. No after parties are allowed.

7️⃣SWIMMING POOLS
All swimming pools are closed until further notice.

8️⃣INDOOR SPORT CENTRES
All Indoor sport facilities are closed. Workshops, community sport meetings, sporting and recreational programmes are not permitted

9️⃣COMMUNITY HALLS
Hall are open for permissible functions, which are not considered a social gathering. Thus, no weddings, religious functions (like church services), or training is permissible. Funerals will be permissible, noting that the maximum amount of people allowed in a hall will be 50 people.

Covid-19 protocols such as social distancing, wearing of masks and sanitisation must be adhered to in all the City’s public spaces.

25/06/2021

IMPORTANT SARS INFORMATION: TEMPORARY CLOSURE OF SARS BRANCHES⚠️

With the rising case numbers and the onset of the third wave peak of the pandemic, taxpayers are advised that:
1️⃣ SARS will be closing all tax branches temporarily for physical visits as from Thursday, 01 July 2021. Accordingly, branch filing will NOT commence on this date.

2️⃣ At this stage, SARS plans to commence physical branch visits on 16 August 2021, but will review this continuously. Taxpayers are therefore advised not to visit a SARS branch. The branches will be closed until an announcement is made confirming the reopening date.

3️⃣The temporary closure of the branches will not affect the start of the Filing Season for individuals who traditionally file via eFiling or the SARS MobiApp. These taxpayers are encouraged to continue doing so digitally, starting from 1 July 2021.

4️⃣During the branch closures, taxpayers who require assistance to file online will be assisted telephonically with the support of dedicated SARS staff.

5️⃣All Customs Ports of Entry will be open for frontline customs operations, but not for face-to-face client engagement other than for clearance and inspection purposes.

Read more here: https://bit.ly/3dcaZCZ
SAICA - The South African Institute of Chartered Accountants

17/06/2021

Business Liquidation Application Process.

IMPORTANT POINTS:
1️⃣Surety
Very few people inform members or directors that if they owe money to a supplier, they must first check if they signed surety or not. If they did sign surety, and the CC or Company is liquidated, the supplier will hold the member or director personally liable for the money due for the goods supplied.
If the business has an overdraft facility, vehicle or credit cards at a banking institution, it is a given that the member or director would have had to sign surety (you will find it somewhere in the pack of papers that you signed when you opened the bank account). Therefore it is very likely that a sequestration will follow after the liquidation.

2️⃣SARS
The following must be mentioned – if you have money available, you have to pay SARS. The member or director acts as an ‘agent’ for the Government, and money received must be paid over to the Government. Unfortunately we do not live in a perfect world, and there are various circumstances that may lead to a business not paying over the money monthly. One-month arrears turns into two and then three and before long you are in a situation that you cannot get out of. In the case of liquidation, SARS also forms part of your creditors.
Many of the liquidations processed, the only money owing is to SARS. If this is the case, then a sequestration won’t be necessary.

3️⃣ASSETS
Please do not hide any of your assets – it is an offence in terms of Section 132 of the Insolvency Act. In the event that you need assets to proceed with an income, it may be possible to reach an agreement with the liquidator to purchase back the assets. If the liquidator is under the impression that assets are being hidden, then he/she may request that an investigation take place. The Master of the High Court will also be included in this process. It is advisable not to follow this route.

📍Contact your nearest Accountant

📧 [email protected]

Application forms will only be emailed.

14/06/2021

UIF Limitation Update.⚠️

The UIF contribution limit has increased to
R17 712📈

Effective date 01st June 2021
Submission date 07th July 2021 (SARS)

Contact your Accountant to update

📧INFO@ AJSACCOUNTINGSERVICES.CO.ZA
☎️031 015 5090

Please view Government Gazette Attached.

09/03/2021

What is a Tax Directive from SARS?

A tax directive is simply an official instruction from SARS to your employer or fund manager to deduct tax at a set rate, determined by SARS for your individual case, and not the general income tax rates. This directive ensures you pay a fair rate of tax on your earnings, most importantly for larger or irregular payments. There are several types of tax directives available based on the purpose and the type of income earned.

1. Gratuities Tax Directive - The IRP3(a)

The gratuities tax directive is used when a company makes a payment to an employee, or their dependents, in the case of:

Death
Retirement
Early retirement due to ill health
Retrenchment / severance package
Shares
“Other” payments such as leave pay cash out

2. Fixed Percentage Directive – The IRP3(b)

The fixed percentage directive is issued to commission earners and personal service companies and trusts, instructing tax to be deducted at a pre-determined set rate each month, irrespective of amount earned. This is beneficial when earnings fluctuate from month to month. A set fixed percentage will help to ‘normalise’ tax payments across the full tax period and may alleviate a hefty tax liability at the end of a tax year.

3. Fixed Amount Directive – The IRP3(c)

The fixed amount directive applies to sole proprietors who’ve been assessed to be running at a loss or taxpayers experiencing financial hardship due to extenuating circumstances beyond their control.

The SARS definition of financial hardship is: “Inability to meet minimum living standards / depriving the tax payer of the ability to maintain minimum living expenses if ignored / or extraordinary circumstances beyond Taxpayer’s control.”

It should be remembered that SARS has the final decision with regards to what is deemed to be hardship and cases are reviewed on an individual basis to determine whether the taxpayer qualifies for a tax directive under these circumstances.

4. Deemed Remuneration Tax Directive – The IRP3(d)

This directive is issued to instruct a company the remuneration amount (which may differ from actual remuneration amount) to be used to calculate tax liability for:

An employee assessed as under financial hardship, or
The director of a company where the formula for tax liability on remuneration isn’t complete, due to remuneration information for the preceding year of assessment being undetermined.

5. Form AD Tax Directive – Provident or Pension Fund Lump Sum Withdrawal

The Form AD directive is issued when a taxpayer withdraws a lump sum from a provident or pension fund due to:

Death
Retirement (including retirement due to ill health)
Provident fund - deemed retirement

6. Form B Tax Directive – Provident or Pension Fund Lump Sum Payment

The Form B directive is used when a lump sum needs to be paid by a provident or pension fund for:

Resignation or retrenchment
Withdrawal from fund
Winding up (fund closing)
Transfer
Future surplus
Unclaimed benefit
Transfer of a lump sum in the case of a divorce
Divorce settlement for a spouse (who is or isn’t a member of the fund)
Housing loan
2/3 of capitalised amount as gross income when transferring or changing pension funds - Section 1 paragraph (eA)

7. Form C Tax Directive – Retirement Annuity Fund Lump Sum Payment

The Form C directive is used when a Retirement Annuity Fund needs to make a payment to a member, this will be in the case of:

Death before retirement
Retirement due to ill health
Transfer from one retirement annuity fund to another
Unclaimed benefits
Discontinued contributions
Future surplus
Divorce transfer
Divorce settlement for a spouse (who is or isn’t a member of the fund)
Emigration

If you find yourself in any of the situations above, it's recommended you seek out a tax directive from SARS to help ease tax calculation and payment. In the instances where the payments are made from funds or employers, they will request the tax directive on your behalf, but for further information on how to apply, you can see the tax directive guidelines on SARS.

08/12/2020

5 points from Finance minister.

"Fifth – and this is where it hurts the most because people tend to look to those in leadership for hope and a sense of security – thus far, those leading the country have shown they are incapable of managing the economy"

Its condition? Critical, with catastrophic damage. Recovery will take an agonisingly long time.

07/12/2020

The chief executive of FNB, Jacques Celliers, has been accused of paying a client R155 000 to stop making claims that the bank was involved in an alleged scam

21/11/2020

South Africans looking for an offshore base, visa-free access to Europe and the possibility of dual-citizenship, are increasingly investing in property in Portugal, says migration, wealth and forex specialists, Sable International.

03/11/2020

Government borrows money daily to pay their wage bill, Private sector took wage cuts!

Why not government as well!

The National Education, Health and Allied Workers’ Union (Nehawu) is planning a major strike action at the end of November in response to the government’s decision to freeze public-sector wages.