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Accounting for trusts and deceased estates - Webinar on demand

Learning objectives By the end of this event the participant should: Get an overview of estate planning and trust law. Understand accounting for trusts and deceased estates. Understand how to draft an estate plan and admin ister an estate. Understand how to correctly create and administer a trust. Understand curatorship and the roles and responsibilities thereof. Content The webinar will cover the following topics:  Introduction to estate planning and trust law; The Income Tax Act on trusts. Creating a valid and lawful trust. The roles, responsibilities and liabilities of: The trust founder; and Beneficiaries. Administering and terminating a trust. The deceased estate administration process. Curatorship - roles and responsibilities. Creating a proper estate plan. Trusts and deceased estates – accounting treatment.


2 Hours | R475.00
Jako Liebenberg

Monthly Compliance and Legislation Update March - 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 comp liant; 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  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): Draft guide to building allowances (Issue 2) List of qualifying physical impairment or disability expenditure –Effective 1 March 2020 Guide on Venture Capital Companies Tax Guide for Share Owners (Issue 7) Interpretation Notes (updated & issued): Interpretation Note 67 (Issue 4) – Connected persons Interpretation Note 16 (Issue 3) – Exemption from income tax: Foreign employment income Interpretation Note 75 (Issue 3) – Exclusion of certain companies and shares from a "group of companies" as defined in section 41(1) Interpretation Note 44 (Issue 3) – Public BenefitOrganisations: Capital gains tax Draft Interpretation Note – Doubtful debts and accompanying documents Draft Interpretation Note – Public BenefitOrganisations: Provision of residential care for retired persons Binding Rulings (Private/Class/General) issued: BPR 337 – Amalgamation transactions involving the assumption of liabilities only BPR 338 – Donations of money made to a public benefitorganisationat a fundraising event BPR 339 – Transfer of listed shares to a collective investment scheme in exchange for participatory interests BPR 340 – Share buy-back at nominal value BGR 9 (Issue 4) – Taxes on income and substantially similar taxes for purposes of South Africa’s tax treaties Draft BGR – Unbundling of unlisted company: Impact of non-qualifying shareholders Notices and other publications issued: Notice 37, amending regulations under items (a) and (c) of the definition of "determined value" in paragraph 7(1) of the Seventh Schedule to the Income Tax Act, 1962, on the retail market value in respect of right of use of motor vehicle Explanatory Memorandum on the Taxation Laws Amendment Bill, 2019 Final Response Document on the 2019 Draft Tax Bills – 21 January 2020 Updated Table of interest rates: Table 3 – Rates at which interest-free or low interest loans are subject to income tax Section 12I Tax AllowanceProgramme– Department of Trade and Industry – Publication of decisions to approve, not approve or withdraw approval of applications received for the tax allowanceprogrammeunder section 12I(12)(a)(i)(aa) and (19)(d) Income tax notices, scheduled for publication in the Government Gazette, under section 8(1) relating to daily amounts in respect of meals and incidental costs, and rate perkilometrein respect of motor vehicles –effective 1 March 2020 Taxation proposals as tabled by the Minister of Finance during the 2020 National Budget Review on 26 February 2020 Draft Bill – Draft 2020 Rates and Monetary Amounts and Amendment of Revenue Laws Bill Tax Court cases: IT 13798, IT 13931 andTAdm14294– Capital gains tax and capital losses; employee share incentive scheme and trust; meaning of "asset" as defined in the Eighth Schedule and whether that definition includes a personal right VAT 1390– Whether the delivery of food orders to the taxpayer’s customers constitutes a service supplied by it for consideration in the course, or in furtherance, of its enterprise, and hence whether the delivery charges were subject to output tax IT 24819 VAT 2063 TAdm00052/2018 TAdm24643 –Whether statement lacked sufficient averments necessary to sustain a finding of gross negligence VAT 1610 –Whether the Appellant was entitled to input tax and output tax claims relating to re-organisingloans and substituting foreign loans High Court cases: Dragon Freight (Pty) Limited and Others v CSARS (82686/19) [2019] ZAGPPHC 626 Siphayiand Another v CSARS and Others (34975/2019) [2019] ZAGPJHC 455 Glencore Operations SA (Pty) Limited v CSARS (11696/18) [2019] ZAGPPHC 545 FlordisSouth Africa (Pty) Limited v CSARS (61689/2015) [2019] ZAGPPHC 546 Gold Kid Trading CC v CSARS (2016/31842) [2018] ZAGPJHC 710 –The jurisdiction of the High Court to entertain ordinary review applications not ousted by the legislative powers given to the Tax Court Agricultural and IndustrialMechanisation(Pty) Ltd v CSARS (21164/2017) ZAGPJHC Peter v CSARS (3158/2018) ZAGPJHC Brits and 3 Others v CSARS (2017-44380) ZAGPJHC –Applicant subject of VAT audit Canyon Resources (Pty) Ltd v CSARS (68281/2016) [2019] ZAGPPHC –Interpretation of post-recovery and post-mining activities; interpretation of in respect of mining of coal Medtronic International v CSARS (33400/19) [2020] ZAGPPHC –Whether CSARS should have included internal e-mail correspondence between staff as part of the record in a Rule 53 review application Supreme Court of Appeal cases: CSARS v South African Breweries (Pty) Ltd (442/2017) [2018] ZASCA 101 (27 June 2018) –Classification of products for determination of excise duty rate IFRS: Standards – What’s new? IFRS Monthly news summaries CIPC: Notices and Practice Notes issued (enforcement and to customers): Notice 1 of 2020 –Disparity of registration numbers and incorporation dates Notice 4 of 2020 –Discontinuation of 3rdparty model Notice 5 of 2020 –Compulsory Name Reservation for Co-Operatives Notice 6 of 2020 –Expansion of mobile services Notice 9 of 2020 – Companies Compliance Checklist on e-Services:CIPC confirms that this only applies to companies that are audited/independently reviewed, and the Compliance Year is clarified LabourLaw: Employment law: Amended Regulations in terms of the Basic Conditions of Employment Act –New summary must be displayed in the workplace Other Laws & Regulations affecting your client AND impact on NOCLAR: This period’s 3 sets of big 5 include: The Companies Act (Annual return compliance checklist); The Constitution of the Republic of South Africa (Draft Amendment Bill & Comment deadline extension); The Income Tax Act (Amendment Acts); The Public Administration Act (Draft regulations); and The Occupational Health and Safety Act (Ergonomics regulations). The Basic Conditions of Employment Act (Summary to be kept by an employer); The Foodstuffs, Cosmetics and Disinfectants Act (Reduction in sodium levels & Maximum pesticide residues); The National Environmental Management Act (Environmental assessment practitioner registration); and The Special Investigating Units and Special Tribunals Act (Investigations & Masters offices) The Auditing Profession Act (Amendment Bill 2020); and The Competition Act (Buyer power and price discrimination & Draft guidelines automotive aftermarket industry) Other Acts and articles: Expat tax kicked in on 1 March 2020 –Here’s what you need to know Regulator news: IRBA News & press releases: IRBA foresees audit reforms will regain confidence in profession if audit firms follow suit IFIAR issues Report on the 2019 Global Inspections Findings Survey New Process: Online Submission of Assurance Work Declaration and Firm Related Information 2020 SAICA press releases & other publications: SAICA Guide in Respect of the Duties of the Commissioner of Oaths (Revised January 2020 – Version 4) SAICA’s Top Tips for SMEs SAICA’s latest developments in the auditing profession – interesting articles that also affect SMEs Companies Tribunal: 6 Decisions reached on cases heard(1 Name disputes, 1 AGM, 3 Exemptions from SEC, 1 Directorship dispute, 0 Reviews) FIC Advisory & Guidance: Disclosure of Facts or Information Regarding the Contents of Section 29 Reports Call for comments: Draft PCC 109 on the Commencement and Enforcement of the FIC Act as amended by the FIC Amendment Act PCC 43 issued dealing with customer due diligence (CDD) in relation to shared clients Call for comments: Draft PCC 107 on the Use of an Automated Transaction Monitoring System for the Detection and Submission of Regulatory Reports Call for comments: Draft PCC 106 on Item 1 of Schedule 1 to the FIC Act CGSO & National Consumer Commission: CGSO Quarterly Newsletter NCC notes with concern attempted bribery of its officials by suppliers SARS media releases: SARS wins 10-year battle against non-compliant taxpayer Tax fraudsters sentenced in high court FSCA publications & press releases: Intergovernmental FinTech working group publishes a report on its 2019 workshops Press Release on 36ONE Asset Management (Pty) Ltd 10 Warnings issued to the public against fraudulent FSPs General Announcements / News Releases: Media articles: New perks which could be widely introduced at South African companies


2 Hours | R475.00
Lettie Janse van Vuuren

2020 Tax Relief Measures during Covid-19: Practical Issues and Guidance on its Implementation - Webinar on demand

Overview: President Ramaphoza announced a number of tax relief measures amid the Covid-19 disaster. SARS recognise that tax professionals are central to support taxpayers and small businesses during the period of national disaster and announced that SARS will be issuing extensive communication on the implementation of the tax measures through its strategic stakeholders. This free Webinar is the beginning of a series of Technical Alerts and Webinars that the Tax Faculty, SAITand SA Accounting Academywill facilitate to keep you updated, including important changes in the SARS systems and processes.


2 Hours | R0.00
Karen van Wyk CA(SA)

Immigration Accounting under the current ISRS 4400 - Webinar on demand

Learning objectives By the end of this event the participant should: Understand the requirements of the Immigration Act; Know the role of qualifying accountants in Business Visa applications; Understand the requirements of ISRS 4400 on AUP engagements; and Know how to become a licensed Immigration Accountant. Content The webinar will cover the following topics:  Section 15 and Regulation 14 of the Immigration Act No. 13 of 2002; How to perform an engagement to issue a certificate for Business Visa applications: Engagement letters; Engagement procedures; ISRS 4400 - Objective of an Agreed-Upon Procedure Engagement; Proposed revision of ISRS 4400. Code of conduct and quality control. Partnering with Visa Consultants. Finding foreign clients. Other services to provide to successful Business Visa applicants.


2 Hours | R475.00
Maya Nikolova

IFRS 9 - Financial Instruments - Webinar on demand

Learning objectives By the end of this event the participant should: Understand how to correctly recognise financial instruments; Understand how to accurately measure financial instruments; Know the requirements for impair ment of financial instruments; Know when and how to derecognise financial instruments; and Understand general hedge accounting. Content The webinar will cover the following topics:  IFRS 9 overview. Financial instruments recognition. Initial and subsequent measurement. Measuring leases accurately. Derecognition – when and how? Reclassification. Understanding hedge accounting. Impairment of financial instruments. Disclosure of financial instruments.


2 Hours | R475.00
Anton van Wyk CA(SA)

Understanding the balance sheet - Webinar on demand

Learning objectives By the end of this event the participant will: Understand the purpose of a Balance Sheet; Understand how to correctly compile a Balance Sheet; Know the reporting standards to adhere to during compilatio n; Understand how the Balance Sheet fits into the AFS; and Understand how tocalculate, use and interpret Balance Sheet ratios. Content The webinar will cover the following topics:  The Balance Sheet – Statement of Financial Position. Structure of the Balance Sheet. Preparing a Balance Sheet. Relevant reporting standards. Interdependency with other financial reports. Financial ratios – calculation, use and interpretation. Illustrative example.


2 Hours | R475.00
Russel Ngobeni

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