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August 17, 2018

Celebrate women this month!

In one of the largest demonstrations staged in this country’s history, 20 000 women of all races marched to Pretoria’s Union Buildings on 9 August 1956, to present a petition […]
August 17, 2018

How to survive a SARS audit?

You have submitted your annual tax return and sigh a sigh of relieve as you sit back and plan how you will be spending your SARS refund. BUT WAIT! WHAT?! […]
August 17, 2018

Does my company need to file in iXBRL?

The Companies and Intellectual Property Commission (CIPC) has mandated that from the 1st of July 2018 all qualifying entities will be required to submit their annual financial statements through iXBRL […]
July 12, 2018

Changing banking details with SARS

In order to prevent fraud, the South African Revenue Service (“SARS”) requires confirmation of new or any changes to existing banking details and will only process any refunds due once […]
July 12, 2018

IFRS 15 – Revenue from contracts with customers

IFRS 15 recently became effective for financial periods beginning on or after 1 January 2018. IFRS 15 is only applicable to entities that have implemented International Financial Reporting Standards as […]
July 12, 2018

Medical scheme fees tax credit

Section 6A of the Income Tax Act[1] provides for a medical scheme fees tax credit (“MTC”), or rebate, which reduces the amount of income tax payable by a natural person […]
July 12, 2018

Don’t be insane – Make a change!

“Insanity – Doing the same thing repeatedly and expecting a different result” – Albert Einstein Cash flow can be a big challenge for any business. Does the following scenarios sound […]
June 26, 2018

Don’t delay, submit your 2018 Income Tax Return!

Annual Tax season is here, and Income Tax return submissions starts on the 1st of July 2018. We’ve taken the liberty of answering frequently asked questions individuals may have. The […]
June 14, 2018

WHEN LOOKING FOR A BUSINESS LOAN, MAKE PURPOSE YOUR CENTRAL CONSIDERATION

Written by Marilynn Leonard – Funding Hub. MMS Group was granted permission to use this article by the author. Today there are many types of loans, from many types of lenders, including […]
June 14, 2018

PROOF REQUIRED FOR INCOME TAX RETURNS – INDIVIDUALS

Following the conclusion of the 2018 tax year, documents will be issued to you that must be retained for tax purposes. The following documents should, if applicable, be submitted to […]
July 12, 2018

Changing banking details with SARS

In order to prevent fraud, the South African Revenue Service (“SARS”) requires confirmation of new or any changes to existing banking details and will only process any refunds due once […]
July 12, 2018

Medical scheme fees tax credit

Section 6A of the Income Tax Act[1] provides for a medical scheme fees tax credit (“MTC”), or rebate, which reduces the amount of income tax payable by a natural person […]
June 26, 2018

Don’t delay, submit your 2018 Income Tax Return!

Annual Tax season is here, and Income Tax return submissions starts on the 1st of July 2018. We’ve taken the liberty of answering frequently asked questions individuals may have. The […]
June 14, 2018

PROOF REQUIRED FOR INCOME TAX RETURNS – INDIVIDUALS

Following the conclusion of the 2018 tax year, documents will be issued to you that must be retained for tax purposes. The following documents should, if applicable, be submitted to […]
April 25, 2018

SECTION 19 OF THE FAIS ACT AND THE RELEVANT SUBMISSIONS TO THE FSB

Overview Section 19 of the FAIS Act states that financial statements must be submitted by all Authorised Financial Service Providers to the registrar, not later than four months after the […]
April 17, 2018

Employer Annual Reconciliation due

Employers should be aware that Employer Annual Reconciliation is due for submission at SARS from April 2018. If the relevant deadlines are missed, certain penalties will apply. Penalties are charged […]
March 23, 2018

RECENT CHANGES TO SECTION 7C

BACKGROUND Section 7C of the Income Tax Act came into effect on 1 March 2017. This section specifically deals with Interest Free- or Low Interest Loans to Trusts. The aim […]
March 23, 2018

RESEARCH AND DEVELOPMENT: INCOME TAX TREATMENT

The need to become more technology proficient and being actively engaged in the scientific and technological innovation space, has become a top priority for a lot of companies because of […]
February 23, 2018

2018/2019 Tax Guide Now available for download

The 2018/2019 MMS Tax Guide is available. Please click here to download the latest guide.
February 19, 2018

Provisional Tax penalties on underestimation of income

Provisional taxpayers are generally those taxpayers who earn income from sources other than a salary. In other words, PAYE is not deducted from these other sources of income on a […]
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