Webinars On-Demand

IFRS: 

• Standards – What’s new? 

  • IFRS Monthly news summary 

• Accounting issues 

  • SAICA: Circular 1/2023: Headline Earnings 

• Public Sector 

  • MCS FAQs 

  • Update to GRAP 19 accounting manual published 

IRBA: 

• Standards:  

  • Updates to SAAPS 3 and other Illustrative Reports (arising from Amendments to IAS 1) 

• Legal/Ethics:  

  • Final Pronouncement: Definition of Engagement Teams and Group Audits 

CIPC: 

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

  • Notice for Co-Operatives Directors/Members to Update their Contact Details 

  • Notice 32 of 2023: Relaunch and automation of associated name reservation service (form COR9.1) 

  • Notice 33 of 2023: Unauthorised use of CIPC name, abbreviation and logo 

Sustainability & Integrated Reporting 

• Important issues: 

  • ISSB issues inaugural global sustainability disclosure standards 

  • How to access the IFRS Sustainability Disclosure Standards 

  • IFAC Guide: Enhancing Greenhouse Gas (GHG) Reporting 

Technology 

• Important issues: 

  • A platform for AI collaboration and knowledge-sharing 

Labour Law: 

• Employment law: 

  • CCMA: New Directive on Arbitration proceedings 

  • National Minimum Wage Exemption Requirements    

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

• This month’s big 5 (2 volumes): 

  1. The Compensation for Occupational Injuries and Diseases Act: Draft rehabilitation, reintegration and return-to-work regulations;  

  2. The Income Tax Act: Draft Revenue Laws Amendment Bill 2023;  

  3. The Local Government Municipal Structures Act: Code of conduct for councillors regulations;  

  4. The National Environmental Management Act: Hazardous chemicals and pesticides in international trade; and  

  5. The Pension Funds Act: Draft Revenue and Pension Laws Amendment Bill. 

  6. The National Building Regulations and Building Standards Act: Constitutional Court ruling;  

  7. The National Environmental Management Waste Act: Constitutional Court ruling;  

  8. The National Small Enterprise Act: Amendment Bill;  

  9. The Non-profit Organisations Act: Registration; and  

  10. The Public Procurement Bill. 

• Other acts and articles: 

  • NPO Registration with Directorate 

  • National Small Enterprise Development Bill 

• COIDA Update: 

  • COIDA Draft Regulations  

SARS: 

• Guides (new, updated & issued): 

  • Updated Dispute Resolution Guide: Guide on the Rules Promulgated in terms of Section 103 of the Tax Administration Act, 2011 (Issue 3) 

  • Draft Guide: Tax treatment of the Net-billing Tariff System for Excess Power Generated 

  • 11 Updated Guides for Filing Season 2023 

  • Updated Guide on the Determination of Medical Tax Credits (Issue 15) 

  • Guide on Income Tax and the Individual (2022/23) 

  • Backdating of PAYE and SDL liability dates: Updated Guide on How to Complete Registration Amendments and Verification (RAV01) Form 

• Interpretation Notes (updated & issued): 

  • IN 130 (Issue 1) – Exemption for international aid received or accrued under an official development assistance agreement 

  • IN 6 (Issue 3) – Resident – Place of effective management (Companies) 

  • IN 115 (Issue 2) – Withholding tax on interest 

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

  • BGR 64 – Temporary application of new dwellings for exempt supplies simultaneously held by developers for taxable purposes 

  • BPR 389 – Bursaries awarded by a resident company 

  • BPR 390 – Disposal in anticipation of liquidation 

  • BGR 391 – Tax consequences of the termination of an en commandite partnership 

  • BGR 392 – Sale of shares in a controlled foreign company (CFC) 

  • BGR 393 – Income tax consequences resulting from consecutive asset-for-share transactions 

  • BGR 394 – Instalment sale agreements and their sale to a non-resident 

• Notices and other publications issued: 

  • Persons who must submit an income tax return 

  • Draft Bills and Explanatory Memoranda 

  • Average Exchange Rates 

  • ​ Media release – 2023 Filing season for Individuals and Trusts 

  • PAYE Administrative Penalties Update 

  • Personal Income Tax changes for Filing Season 2023 

  • Trust changes for Filing Season 2023 

  • Corporate Income Tax (CIT) – Form and system changes 

  • Retirement Funds Practice Note RF 1/1995  

  • e@syFile™ – release notes v46 

  • Tax implications if married in community of property 

  • Correspondence with SARS on Estate cases 

  • Updated Confirmation of Disability Diagnosis (ITR-DD) form 

  • Persons specified to submit returns for 2024 

• Taxpayers must be on the lookout for New Scams: 

  • Beware – Fraudulent email addresses 

  • Email scam titled ‘eFiling Returns Complete’ 

  • Email scam titled ‘Statement of Account request’ 

  • Email scam titled ‘Final Demand’ 

  • PayFast SMS scam 

  • Email called Internal Communication from DIRCO 

  • New SMS Scam: Income Tax / VAT Returns 

  • Account in arrears 

  • Tax Return Confirmation 

  • Letter of Demand 

• Tax court cases: 

  • SARSTC IT 24502 (ADM) [2023] ZATC 7 CPT (2 June 2023) 

Regulator news: 

• IRBA News & press releases: 

  • Reminder: New Illustrative Reports to be Used by Independent Assurance Practitioners When Required to Report in terms of the Property Practitioners Act 

• SAICA press releases and other publications: 

  • CA2025 Simulations Guideline 

  • Comment letter on the IAASB’S on Proposed ISA for LCE 

  • Comment letter on Proposed Amendments to the JSE Limited Listings Requirements and the JSE Debt Listings Requirements pertaining to the auditor accreditation model 

• CIBA press releases and other publications: 

  • Newsletters: 

    • CFO Talks (CFO Talks™ is devoted to sharing ideas and conversations between CFOs. It is a platform which facilitates insightful and powerful talks relevant to CFOs) -  https://cfotalks.com/  

    • Accounting Weekly (weekly newsletter) - https://accountingweekly.com/  

• Companies Tribunal:  

  • 7 Cases finalised in Jun 2023  

  • Bulletin Newsletter: Volume 1 April to June 2023 

• Information Regulator:  

  • Infringement notice and R5 Million administrative fine issued to the DoJ&CD 

  • POPIA: Direct Marketing Association Code of Conduct - out for comment 

• FSCA publications & press releases:  

  • Press Release: FSCA confirms investigation into Ithemba Lama Afrika and Mr. Kabelo Gwamanda 

  • Enforcement actions against OM Bridge and associated individuals 

  • Money Smart Week SA 2023: Invitation for Organisations to participate in Money Smart Week South Africa (MSWSA) 2023 - 28 August to 3 September 2023 

  • 8 Warnings issued against fraudulent FSPs 

• PPRA:  

  • Final: Revised Guideline on Audit Accounting Records and Trust Account Requirements 

• OTO:  

  • Quarterly newsletter: FairPlay Issue 29 

• SARS:  

  • Latest Tax Practitioner Newsletter 

  • First Edition of the Traders and Travellers Connect Newsletter  

General Announcements / News Releases: 

• Media articles:  

  • As cyber-attacks and breaches increase, cyber insurance is yet to take shape