The role of the HR and business leader will be under the spotlight next year. Questions you should be asking at this point are: How can I ensure that I am in a position to give my full attention to the strategic matters at hand? How can I make sure that I am completely up to date with current legislation? And how can I know that my company is not caught unawares by compliancy issues which may seriously put us at risk?

The answer can be distilled into one word: collaboration. Choosing organisations with which you can align with, engage with and learn from will be one of your most strategic decisions you make when you are doing your planning for 2012.

CRS has spent time asking these same questions and we have made sure that we have done everything we can to ensure you are given as much information possible to negotiate the year ahead. Our R&D team has worked incredibly hard to make sure you are afforded the best solution to stay on top of requirements. We believe that if you work with us, we can play an integral part in guiding you through the uncharted territory that will be 2012.

On a less sombre note, we would like to take this opportunity to wish all you a safe and restful holiday period. We would like to thank you all for your continued support. You are all part of the valued collective that will be the cornerstone of what we will continue to build in 2012 and beyond.

From all of us at CRS, may you and yours have a truly blessed festive season.

Until next year,
James McKerrell

 

Medical Scheme Fee Tax Credits

SARS Business Requirements Specifications: Medical Scheme Fees Tax Credits

Please take note of the important changes recently announced by SARS regarding the medical tax credit coming into effect 1st March 2012, whereby the medical aid capped deduction amount will fall away and will be replaced by a medical scheme fees tax credit applicable to all taxpayers other than those aged 65 or more.

Please click here  to download the official announcement from SARS. For a handy two-part guide to the amendments compiled by Moneyweb Tax, please click here.  Alternatively speak to your CRS consultant and we’ll walk you through the changes so you may prepare your employees.

 

Carbon Tax  – who would pay the price?

With the world’s eyes on COP17 in Durban at the moment, South Africa’s environmental issues and their knock on effect across industries are once again being brought to the fore.

South Africa’s proposed carbon tax will hurt competitiveness of the logistics and supply chain sector, according to industry players and experts. Over and above assessing the direct carbon tax cost in SA, once the verdict is published by National Treasury in February next year, the country must count the indirect cost of the tax on the competitiveness of its logistics and supply chain sector and the impact that it will have on consumers and end-users. Click here to read the full article on Carbon Tax.

 

Multinational companies exposed to tax risk

The multiplicity of Value Added Tax (VAT) systems across Africa exposes multinational companies to tax risk, errors and inconsistencies in the application of the law, according to a new report.  Most of Africa’s 54 countries have VAT systems in place which foreign investors and businesses cannot afford to be ignorant about. Click here to read the full article on Multinational companies exposed to task risk.

 

Did you hear? SA’s tax system ranks high

South Africa’s tax system was ranked number one among emerging economies, it has been reported. The system was ranked for its efficiency and for easing the compliance burden on taxpayers, according to a report by the World Bank, the International Finance Corporation and accounting firm Price Waterhouse Coopers. It found that South Africa was taking the lead as a result of first-world initiatives taken by the government, such as e-filing. However, the country’s tax system had fallen 12 places in the global ratings, which included developed countries.

Source: Moneyweb Tax

Training Modules

We continue to offer a selection of training on our modules. Please click here for our training dates and  venues.