Accounting
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Monthly Compliance and Legislation Update - January 2020 - Webinar on demand

CPD Hours: 2

Price: R399.00


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Monthly Compliance and Legislation Update - January 2020 - Webinar on demand


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 (new, updated & issued): 

    • Updated VAT 404: Guide for vendors 

  • Binding Rulings (Private/Class/General) issued: 

    • BPR 336 – Liquidation distribution   

  • Notices and other publications issued: 

    • The validity period of the Confirmation of Diagnosis of Disability (ITR-DD) form has been extended 

  • Tax Court cases: 

    • IT 24614 – Whether the Appellant was entitled to a deduction for what SARS regarded as a loan 

    • IT 14157 – Whether the Appellant was an independent contractor that was not obliged to deduct SDL & PAYE 

  • High Court cases: 

    • Red Ant Security Relocation and Eviction Services (Pty) Ltd v CSARS (2999/18) – Whether applicant entitled to urgent interim interdictory relief in respect of withdrawal of tax compliance status by SARS 

    • CSARS v Spur Group (Pty) Ltd – Whether contribution to employee share incentive trust in the production of income and hence deductible under section 11(a) 

  • Supreme Court of Appeal cases: 

    • CSARS v Danwet 202 (Pty) Ltd – Condonation for late filing of an appeal against an assessment    

    • CSARS v Pieters and Others (1026/17) – Contracts of employees terminated; awards to employees not subject to PAYE 

    • Africa Cash & Carry vs CSARS – Whether SARS proved that the methods of assessment used were reasonable; whether the tax court ought to have remitted the assessment; section 89quat interest 

    • CSARS v Langholm Farms (Pty) Ltd – Whether court appropriately exercised its discretion in circumstances where Commissioner for the South African Revenue Service had not issued a final assessment 

    • CSARS vs Clicks Retailers (Pty) Ltd – Whether amount received from earlier sales used to finance future expenditure on same contract 

IFRS: 

  • Standards – What’s new? 

    • IFRS Monthly news summary 

IRBA: 

  • Guidance:  

    • Proposed Guide for Registered Auditors: Joint Audit Engagements 

  

CIPC: 

  • Notices and Practice Notes issued (enforcement and to customers): 

    • Guidance Note 2 of 2019 – Time Periods for Filing Annual Returns and Annual Financial Statements  

    • Notice 79 of 2019 – Disqualified directors’ letters 

    • SAICA highlights CIPC Compliance checklist challenges  

  • Companies Tribunal: 

    • 3 Decisions reached on cases heard (2 Name disputes, 1 AGM, 0 Exemptions from SEC, 0 Directorship dispute, 0 Reviews) 

Labour Law: 

  • Employment law: 

    • Update on Parental Benefits in terms of the BCEA – effective 1 January 2020 

Other Laws & Regulations affecting your client AND impact on NOCLAR: 

  • Other Acts and articles: 

    • 6 planned laws for South Africa you should know about in 2020 

  

Regulator news: 

  • IRBA News & press releases: 

    • IRBA Issues a New CPD Policy and Related Guidance 

    • IRBA launches Audit Quality Indicators: Evaluating audit quality and promoting transparency of audit firms  

  • SAICA press releases & other publications: 

    • SAICA’s latest developments in the auditing profession 

  • 5 interesting articles that also affect SMEs 

    • SAICA SMP Q3 Newsletter 

    • Audit Requirements relating to the Business Accounts of Legal Practitioners now clarified 

    • SAICA’s new CPD Policy 

  • Companies Tribunal:  

    • Domain Name Disputes: Does the Tribunal have jurisdiction over Domain Names? 

  • FIC Advisory & Guidance:  

    • PCC41: Awareness on protecting NPO sector from Money Laundering and Terrorist Financing 

    • Call for comments: Draft PCC 102 on Supervisory Body Access to STR and STR Information 

    • Call for comments on South Africa’s Targeted Financial Sanctions Regime Draft Document PCC 104 

    • FIC Supervisory Body: SARB fines Standard Bank R30m & imposes penalties on 4 other banks 

    • Media release: Public Private Sector Partnership to assist in Combating Financial Crime 

  • CGSO & National Consumer Commission:  

    • CGSO Annual report released 

    • CGSO Press release – Rights & Responsibilities of Consumers & Suppliers during Black Friday  

    • The National Consumer Commission slaps Ford Motor Company of Southern Africa with a fine of R35m 

    • Slow or no justice for buyers of dodgy cars despite Consumer Tribunal 'help' 

  • FSCA publications & press releases: 

    • FSCA Update on public warning regarding Karatbars International GmbH 

    • FSCA provisionally withdraw the licence of Exclusive Life Financial Services (Pty) Ltd 

    • FSCA eNewsletter – FSCA Bulletin 2019/2020 

    • 2 Warnings issued to the public against fraudulent FSPs 

General Announcements / News Releases: 

  • Media articles:  

    • The end of annoying marketing calls in South Africa 

    • Here’s when you are allowed to drive in the emergency lane in South Africa 

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