By Peter Cottrell CA(SA) We hope that you are keeping safe and well. As the move to lockdown level 2 brings further easing of restrictions, we are acutely aware of the challenges that are encountered at each level of society. There is still a long road ahead, but we are hugely encouraged by the resilience we haveContinue reading “COVID-19: Temporary Employer-Employee relief Scheme (TERS) – A Limited Extension”
Monthly Archives: August 2020
COVID-19: Sundry Tax Developments
By Peter Cottrell CA(SA) This communication will outline recent developments in the Covid-19 tax relief measures and will provide a further update on the South African Revenue Service (SARS) auto assessment system, while noting a caution regarding the abuse of electronic communication by scammers. Recent Developments On 31 July 2020 National Treasury announced an extensionContinue reading “COVID-19: Sundry Tax Developments”
COVID-19: Update of Guaranteed Loan Scheme
By Peter Cottrell CA(SA) In April 2020 a Guaranteed Loan Scheme was announced, representing a partnership between major banks, National Treasury and the South African Reserve Bank. The scheme was intended to address economic impacts of the Covid-19 pandemic, particularly to provide liquidity to businesses that are in distress. Concerns have been expressed over accessibility to theContinue reading “COVID-19: Update of Guaranteed Loan Scheme”
COVID-19: Tax Relief – Beware of Cash Flow
By Peter Cottrell CA(SA) For many small to medium sized businesses, the primary Covid-19 tax relief will be in the form of a deferral of Employees’ Tax and Provisional Tax liabilities. In many ways this relief represents an interest free source of cash flow from SARS to assist in meeting liquidity requirements. However, there is a potentialContinue reading “COVID-19: Tax Relief – Beware of Cash Flow“
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