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Business News Articles | Page 39
Chartered Accountant & Business Consultant - Meredith Harington
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Business News Articles

Life assurance, are you covered?

According to online resources South Africa is the sixth most dangerous country in the world to live in. It is also no secret that we are challenged as a country with life threatening diseases like HIV/ AIDS, and probably one of the most underrated illnesses, obesity. Our roads are dangerous and it is also a fact that younger generations are these days confronted with cancer, high blood pressure and diabetes. Surely it makes sense to have proper life insurance if you have significant debt, or dependants totally reliant on you?

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Changes to the BBBEE codes affect businesses both big and small

On 11 October 2013, the Department of Trade and Industry (DTI) gazetted the revised Codes of Good Practice in terms of which entities are scored in compliance with the Broad-Based Black Economic Empowerment Act. The revised code will impact on both big and small business in terms of how their scorecards are to be compiled. The effect of the new codes on business as a whole is still in debate – some commentators have suggested that smaller, white owned businesses as well as certain charitable organisations are adversely affected in terms of the new codes. Whether this is true remains to be seen. However, companies with controlling black ownership will definitely benefit in terms of the new codes, as will charities supporting war veterans.

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Taxes are certain - What can an entrepreneur do?

In their latest survey “Paying Taxes 2014” PwC and the World Bank rank South Africa highly overall for total tax rate, number of tax payments and tax compliance hours. While well ahead of Africa, and placed competitively worldwide, most South African entrepreneurs would consider they pay too much tax. And with the approaching National Health Service and significant infrastructure required to improve service delivery, there will be pressure on corporate and personal tax rates. Sin taxes and fuel levies are expected in some quarters to rise in 2014.

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