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
This article follows on from part 1 published on 22 June 2020. Capital Gains Tax is a complex matter to understand and more so when it is applied to Public Benefit Organisations. The information relevant to this matter is extensive and will be dealt with in more than one article…
Capital Gains Tax is a complex matter to understand and more so when it is applied to Public Benefit Organisations. The information relevant to this matter is extensive and will be dealt with in more than one article with respect to disposal of an asset by a PBO in paragraph…
Prior to the World Health Organisation declaring COVID-19 a pandemic South Africa’s economy had already contracted in the last two quarters of 2019. Arising from the subsequent lockdown in South Africa on Friday 27 March 2020, the credit rating agency Moody’s cut South Africa’s sovereign credit rating to sub-investment grade,…
Corporate tax revenue in the Treasury Department's 2020/2021 fiscal year budget accounts for 16% of total revenue collection in South Africa. Given that this figure is higher than many other countries the ability of corporations to find and use innovative solutions to avoiding tax contributions is of interest to governmental…
Income Tax Act 58 of 1962 sections 55(1) and 58(1) SARS released a private binding ruling (BPR343) in May 2020 explaining the outcome of a request from an applicant as to tax treatment of shares issued at a discount value and should serve as a guideline for businesses encountering a…
Section 23H of the Income Tax Act is one that is often carefully reviewed by SARS for correct application by businesses. This portion of the Income Tax Act, No 58 of 1962 governs the extent of the deduction that may be claimed during any particular year of assessment in respect…
Section 8 of The National Disaster Regulation 10 empowers the Minister of Employment and Labour with the authority to issue and vary directions, within mandate, to address, prevent and combat the spread of COVID-19, from time to time, including: Disseminating information required for dealing with the national state of disaster,Implementing…
Our government has published a breakdown of its R500 billion economic support package to help battle the impact of the coronavirus pandemic. Below is a summary of how the funds will be used as well as a summary of the updated tax relief implication. The money will be distributed as…
Following announcement of the actions taken by government to combat the COVID-19 crisis, South Africans are by now well aware of the proposed tax measures effective from 1 April 2020. An additional fiscal measure under the Value-Added Tax Act No. 89 of 1991 has been implemented as a means of…
There appears to be extensive confusion regarding the two types of UIF claims during the lockdown. The previous article published lists the information required for the employer to kickstart the process so that the employer can submit a claim when the Temporary Employee / Employer Relief Scheme TERS route is…
This article follows on from part 1 published on 22 June 2020. Capital Gains Tax is a complex matter to understand and more so when it is applied to Public Benefit Organisations. The information relevant to this matter is extensive and will be dealt with in more than one article…
Capital Gains Tax is a complex matter to understand and more so when it is applied to Public Benefit Organisations. The information relevant to this matter is extensive and will be dealt with in more than one article with respect to disposal of an asset by a PBO in paragraph…
Prior to the World Health Organisation declaring COVID-19 a pandemic South Africa’s economy had already contracted in the last two quarters of 2019. Arising from the subsequent lockdown in South Africa on Friday 27 March 2020, the credit rating agency Moody’s cut South Africa’s sovereign credit rating to sub-investment grade,…
Corporate tax revenue in the Treasury Department's 2020/2021 fiscal year budget accounts for 16% of total revenue collection in South Africa. Given that this figure is higher than many other countries the ability of corporations to find and use innovative solutions to avoiding tax contributions is of interest to governmental…
Income Tax Act 58 of 1962 sections 55(1) and 58(1) SARS released a private binding ruling (BPR343) in May 2020 explaining the outcome of a request from an applicant as to tax treatment of shares issued at a discount value and should serve as a guideline for businesses encountering a…
Section 23H of the Income Tax Act is one that is often carefully reviewed by SARS for correct application by businesses. This portion of the Income Tax Act, No 58 of 1962 governs the extent of the deduction that may be claimed during any particular year of assessment in respect…
Section 8 of The National Disaster Regulation 10 empowers the Minister of Employment and Labour with the authority to issue and vary directions, within mandate, to address, prevent and combat the spread of COVID-19, from time to time, including: Disseminating information required for dealing with the national state of disaster,Implementing…
Our government has published a breakdown of its R500 billion economic support package to help battle the impact of the coronavirus pandemic. Below is a summary of how the funds will be used as well as a summary of the updated tax relief implication. The money will be distributed as…
Following announcement of the actions taken by government to combat the COVID-19 crisis, South Africans are by now well aware of the proposed tax measures effective from 1 April 2020. An additional fiscal measure under the Value-Added Tax Act No. 89 of 1991 has been implemented as a means of…
There appears to be extensive confusion regarding the two types of UIF claims during the lockdown. The previous article published lists the information required for the employer to kickstart the process so that the employer can submit a claim when the Temporary Employee / Employer Relief Scheme TERS route is…