Chartered Accountant & Business Consultant - Meredith Harington
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Business News Articles

Pocket money dilemma

To give or not to give pocket money is a global dilemma that most parents have to solve when their little ones get old enough to start showing an interest in money. But the global trends show a decrease in savings cultures around the world. Here are some interesting statistics and a parent's guide to pocket money in South Africa:

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Sellers of property beware - You may have to pay taxes on gains made before you receive the proceeds on sale

Not all property owners are aware of the cash-flow difficulties that can arise when they conclude an agreement of sale in one tax year but only receive the proceeds (usually on transfer of the property) in the following tax year.

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FICA Amended - Will FICA still be a four letter word?

The Financial Intelligence Centre Act (FICA) has been operating since 2001 but has recently been amended to bring it into line with global practices and to strengthen South Africa’s ability to fight illicit financial flows and other forms of financial crimes, which include money laundering, corruption, financing of terrorism and tax evasion.

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