Accounting
Compliance and Legislation Update October 2019 - Studio Recording
CPD Hours: 2
Price: R199.00
Title / Topic
Compliance and Legislation Update October 2019 - Studio Recording
Compliance and Legislation Update - October 2019
Presenter: Lettie Janse van Vuuren CA (SA), RA
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.
Content:
SARS:
- Guides (new, updated & issued):
- New Guide: Taxation in South Africa 2019
- Updated: Comprehensive guide to dividends tax (Issue 3)
- Operational Guides re EMP Reconciliation process (updated & issued):
- Guide for Completion and Submission of Employees’ Tax Certificates 2020 (Revision 7)
- Guide for Validation Rules Applicable to Reconciliation Declarations 2020 (Revision 8)
- Guide for Codes Application to Employees’ Tax Certificates (Revision 7)
- Interpretation Notes (updated & issued):
- Draft Interpretation Note 18 (Issue 4) – Rebates and deduction for foreign taxes on income
- Binding Rulings (Private/Class/General) issued:
- Draft BGR – Determination of the threshold for applying the higher rate of donation tax
- BPR 326 – Group restructuring transactions in a foreign jurisdiction
- BPR 327 – Tax implications of a group restructuring
- BPR 328 – Consecutive asset-for-share transactions
- BPR 329 – Tax consequences of intra-group restructuring and subsequent sale of assets to third party
- Notices and other publications issued:
- Tables 1 and 2 of Interest rates have been updated
- Tables A and B of Average Exchange rates have been updated
- Tax cases:
- Supreme Court of Appeal: BMW SA (Pty) Ltd v CSARS – Whether payment by employer to tax consultants to render assistance to expatriate employees is considered a taxable "benefit or advantage"
IFRS:
- Standards – What’s new?
- IFRS Monthly news summary
IRBA:
- Standards:
- Alert: 3 months to go before the effective date of ISA 540 (Revised), Auditing Accounting Estimates and Related Disclosures - effective for audits of financial statements for periods beginning on or after 15 December 2019
- Overview of the new and revised requirements of ISA 540 (Revised): Link to video setting out technical overview on how to audit accounting estimates in terms of ISA 540 (Revised) – effective for audits of financial statements for periods beginning on or after 15 December 2019
CIPC:
- Notices and Practice Notes issued (enforcement and to customers):
- Media Release 6 of 2019 – Unisa CFO and ex NECSA director disqualified from serving as a director and declared delinquent
- Companies Tribunal:
- 10 Decisions reached on cases heard (5 Name disputes, 0 AGM, 2 Exemptions from SEC, 3 Directorship dispute)
Labour Law:
- Employment law:
- PAYE Employer Interim Reconciliation
- Employment Equity Online Reporting for 2019 is open
Other Laws & Regulations affecting your client AND impact on NOCLAR:
- This month’s big 5 include:
- Financial Sector Regulation Act (Commencement date for Ombuds provisions);
- Draft Housing Consumer Protection Bill 2019;
- National Health Insurance Bill (Comment deadline);
- National Regulator for Compulsory Specifications Act (Canned meat products); and
- Special Investigating Units and Special Tribunals Act (PRASA.
- Other Acts and articles:
- Director duties and Generally applicable laws / Legal register / Regulatory universe
- Reduction in the Prescribed rate of interest
- Why the RICA Act was found unlawful
- Investor’s remorse: Can you take action against your investment broker for a failed investment?
- COIDA update:
- Implementation of new claims system explained
Regulator news:
- SAICA Guidance & other publications:
- Top tips for SMPs (Small and Medium Practices)
- Training Office Communiqué
- Competition Commission:
- Newsletter
- FIC Advisory & Guidance:
- Joint Consultation Paper: FATF recommendations for EFTs
- Call for comments on JCP on processing of EFTs
- Information Exchange Agreement signed between FIC & SAPS
- FIC Role clarified re FIC Reports
- CGSO & National Consumer Commission:
- NCC Newsletter
- Tax Ombud:
- Quarterly Newsletter (and Special Edition commemorating 6 years of bridging the gap of fairness and taxpayer rights)
- SARS media releases:
- SARS extends their operating hours during October 2019
- FSCA publications & press releases:
- Report on the status of the Fortress REIT Limited and Lighthouse Capital investigation
- FSCA fines Steinhoff International Holdings
- FSCA fines 4 Africa Exchange (Pty) Ltd
- 7 Warnings issued to the public against fraudulent FSPs
General Announcements / News Releases:
- Media articles:
- Urgent warning re Sim Swap Scam
