Accountants and auditors must stay informed about changes in legislation and regulations that affect their firms and the business of their clients.
Technical expert Lettie Janse van Vuuren CA(SA), RA researches and summarises all relevant and important changes on a monthly basis and presents this in an easily understandable webinar.
Accountants and auditors must stay informed about changes in legislation and regulations that affect their firms and the business of their clients.
Technical expert Lettie Janse van Vuuren CA(SA), RA researches and summarises all relevant and important changes on a monthly basis and presents this in an easily understandable webinar.
The webinar includes:
A reference guide of all changes to share within the firm;
PPT summary of all new amendments;
Interactive session with the presenter; and
Online Q&A.
Learning objectives
After attending this webinar you will:
Be aware of the latest legislative changes and what it means for your business, practice, and your clients;
Be able to inform your staff and clients on how to stay compliant;
Adapt business models to fit new legislative landscapes;
Receive references to documents and guides;
Have access to your own technical resource; and
Have access to the presenter via email for follow-up Q & A.
Course content
The following legislative, regulatory, industry standards, items and guides have been issued and/or updated during the preceding month and will be covered in the webinar:
SARS:
Guides (updated & issued):
Tax guide for share owners (Issue 6)
Guide on valuation of assets for capital gains tax purposes (Issue 4)
ABC of Capital Gains Tax for Companies (Issue 8)
Interpretation Notes (updated & issued):
6 (Issue 2) – Resident: Place of Effective Management (persons other than natural persons)
64 (Issue 4) – Income tax exemption: Bodies corporate, share block companies and associations of persons managing the collective interests common to all members
10 (Issue 3) – Skills development levy exemption - public benefit organisations
87 (Issue 2) – Headquarter companies
105 (Issue 2) – Deductions in respect of buildings used by hotel keepers
Binding Rulings (Private/Class/General) issued and updated:
BPR 312: Tax implications of the variation of employment contracts
BPR 313: Foreign share buyback
BGR 20: Interpretation of the expression “substantially the whole”
Other publications issued:
Brochure on the SEZ tax incentive released
Rates at which interest-free or low interest loans are subject to income tax has been updated
SCA cases, covering the:
Contracts for the sale of crude oil by one entity within the Sasol Group, to another
Purchase price of erven in a township sold by developer
Implementation of the remaining chapters of LPA – effective 1 November 2018
New process for the payment of Sections 86(2) and (3) of the Legal Practice Act trust interest to the Legal Practitioners’ Fidelity Fund
Practitioner Report templates provided by LPFF
CIPC:
Notices and Practice Notes issued (enforcement and to customers):
Submitting valid email and cell phone numbers for directors/members for companies and close corporations
Providing reason(s) or not for removal of directors by the shareholders
Guidance issued:
All Social & Ethics Committees must apply the new Guideline for corporate compliance programme
What must be included in all Social & Ethics Committees’ Reports?
Companies Tribunal:
Proposed Amendments to the Companies Act relating to the Companies Tribunal
4 Decisions reached on cases heard (Exemptions, Directors’ disputes and Name disputes).
Labour Law:
Court cases:
The right to religion in the workplace – a careful balance between the right and the employer’s business requirements
Other Laws & Regulations affecting your client AND impact on NOCLAR:
The Big 5:
The Compensation for Occupational Injuries and Diseases Act (Guideline on documents to be submitted)
The Cybercrimes Bill 2017
The Electronic Communications Act (Mobile Broadband Services Inquiry)
The Competition Act (Amendment Bill 2018)
The Copyright Act (Amendment Bill 2017)
Carbon Tax Bill update:
Substantial changes were made to the bill
The way forward…
New electronic services regulations – Widening the invisible VAT net:
The regulations have not been gazetted as yet but will come into operation on 1 April 2019
The National Minimum Wage Act of 2018:
You may have to back-pay your domestic worker (with retrospective effect from 1 May 2017) under the new minimum wage laws!
The Department of Public Works has announced an increase in minimum wage for all workers in the Expanded Public Works Programme, with effect from 1 November 2018
Regulator news:
IRBA News & press releases:
None
SAICA Guidance:
Top tips for SMPs (Small and Medium Practices).
Post accreditation guidance document for Training Offices
SAIBA:
DoE clarifies Audit vs Examination of Financial Statements for public schools
FIC Advisory:
FATF releases “deficient jurisdictions” re their measures against money laundering and terrorist financing
SARS media releases:
Comment period extended to 30 November 2018 re Draft list of qualifying physical impairment or disability expenditure and the Draft ITR-DD Confirmation of Diagnosis of Disability Form
CIT returns – Important changes & Administrative Penalties for outstanding CIT Returns kick in on 7 December 2018
FSCA publications & press releases:
2 Discussion Papers for public comment
FSCA releases statement on the Momentum/Ganas case
Press release issued re Ntinga Health and Financial Services
Correction issued re previous warning issued
Warnings issued against 5 fraudulent FSPs.
General Announcements / News Releases:
VBS Mutual Bank:
SAICA's response to the VBS Mutual Bank report
IRBA responds regarding actions against auditors of VBS
Bodies corporate and Home Owners’ Associations:
South Africans living in complexes need to watch out for ‘special levies’
Obtaining your CPD certificate
This webinar qualifies for 2 CPD hours with your professional body including: ACCA, SAICA, AAT, SAIPA, SAIBA, IAC, CIS, ICBA, LSSA, FPI, and the IBA.
All webinar attendees are issued with a CPD certificate available in an online profile.
Choose Individual if you would like to attend this event yourself or choose Company if you would like to broadcast this event to your entire firm.
Free if you are already an SAAA CPD subscriber. Click here to create the profile and then register for the event here. There is no charge to create a user profile.
Additional material
By attending this webinar you will be provided with:
Summarised slide presentation,
Detailed course material and reference documents.
You can ask questions during the webinar via the online portal, and you will also have access to me the presenter via e-mail after the webinar.
Previous Recording
Preview the snippet below for a sneak peak at what you can expect from the webinar
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Venues & Dates
The following venues and dates are available for this event.
