We at Fincor believe that the individual client has the freedom to choose, and therefore we provide our clients with a variety of financial, accounting, tax and bookkeeping services, products and solutions so as to ensure the future wealth and prosperity of their business.
We at Fincor believe that the individual client has the freedom to choose, and therefore we provide our clients with a variety of financial, accounting, tax and bookkeeping services, products and solutions so as to ensure the future wealth and prosperity of their business.
Latest News Blog
The National Credit Amendment Bill was signed into law in August 2019. The Bill promotes the use of a fair, transparent, competitive, sustainable, efficient, effective and accessible credit market and greater relief to over-indebted consumers by providing a mechanism for, amongst other things, debt intervention. The NCA introduced a debt…
On 01 March 2020, changes to the exemption for foreign employment income in s10(1)(o)(ii) of the Income Tax Act No 58 of 1962 (Act), will come into effect. Until then, all foreign employment income earned by a South African tax resident will be exempt if the requirements of s10(1)(o)(ii) are…
The Companies Act, No. 71 of 2008 and the Companies Regulations, 2011 brought forth a new concept of the public interest score (PI Score). Each company is required to calculate a PI Score annually. This calculation should be done for each company individually and not at a consolidated group level. …
South Africa has an Unemployment Insurance Fund from which employees can claim. The UIF Fund offers short-term financial assistance to workers when they become unemployed or are unable to work because of illness, maternity or adoption leave. The fund also assists dependants of a contributing worker who has passed away.…
Government published a new Gazette, Number 42648 on 19 August 2019 as Act Number 4 of 2019 titled “Administrative Adjudication of Road Traffic Offences Amendment Act, 2019” more commonly known as the AARTO Act. The purpose of the published Amended Act is: To amend the Administrative Adjudication of Road Traffic…
Facts for Corporate Income Tax are given below. Between 1 April 2019 and 31 March 2020 the tax rate applicable for corporate income of both resident and non-resident companies for tax years ending is 28%. Small business corporations (i.e. companies with only natural persons as members/owners and with gross income…
Have you ever wondered what SARS’ official functions may be in terms of legislation? Collection of Income Tax is merely one aspect everyone is aware of. SARS is the only organ of state that is entrusted with the administration of national revenue legislation. In terms of section 4 of the…
Payment of taxes is often a sensitive topic to discuss and everyone at some stage is obligated to pay their fair share. For the sake of clarity please note the following: Tax Avoidance is legal.Tax Evasion is illegal. Avoidance: it is reasonable to presume that anyone would want to pay…
The National Credit Amendment Bill was signed into law in August 2019. The Bill promotes the use of a fair, transparent, competitive, sustainable, efficient, effective and accessible credit market and greater relief to over-indebted consumers by providing a mechanism for, amongst other things, debt intervention. The NCA introduced a debt…
On 01 March 2020, changes to the exemption for foreign employment income in s10(1)(o)(ii) of the Income Tax Act No 58 of 1962 (Act), will come into effect. Until then, all foreign employment income earned by a South African tax resident will be exempt if the requirements of s10(1)(o)(ii) are…
The Companies Act, No. 71 of 2008 and the Companies Regulations, 2011 brought forth a new concept of the public interest score (PI Score). Each company is required to calculate a PI Score annually. This calculation should be done for each company individually and not at a consolidated group level. …
South Africa has an Unemployment Insurance Fund from which employees can claim. The UIF Fund offers short-term financial assistance to workers when they become unemployed or are unable to work because of illness, maternity or adoption leave. The fund also assists dependants of a contributing worker who has passed away.…
Government published a new Gazette, Number 42648 on 19 August 2019 as Act Number 4 of 2019 titled “Administrative Adjudication of Road Traffic Offences Amendment Act, 2019” more commonly known as the AARTO Act. The purpose of the published Amended Act is: To amend the Administrative Adjudication of Road Traffic…
Facts for Corporate Income Tax are given below. Between 1 April 2019 and 31 March 2020 the tax rate applicable for corporate income of both resident and non-resident companies for tax years ending is 28%. Small business corporations (i.e. companies with only natural persons as members/owners and with gross income…
Have you ever wondered what SARS’ official functions may be in terms of legislation? Collection of Income Tax is merely one aspect everyone is aware of. SARS is the only organ of state that is entrusted with the administration of national revenue legislation. In terms of section 4 of the…
Payment of taxes is often a sensitive topic to discuss and everyone at some stage is obligated to pay their fair share. For the sake of clarity please note the following: Tax Avoidance is legal.Tax Evasion is illegal. Avoidance: it is reasonable to presume that anyone would want to pay…