She prepared all the documents we required very quickly and timeously, which was essential to us getting our Certificate. What I failed to say was how fantastic she was leading up to our B-BBEE Audit at the end of April. She is always efficient, helpful and friendly and she is quickly getting into the swing of our business. Hi Marnus, You asked me yesterday how it was going and I told you that we were extremely happy to be working with Anina. This is absolutely excellent!!!! ? We are very impressed. You are really efficient, detailed and polite, and I really appreciate that. Ditto, I feel very comfortable knowing that you’re our assigned accountant. He obviously knows his service offerings very well. Thank you very much for sending Ruan to us yesterday he was fantastic, very positive feedback from outside. When looking for a testimonial to use this month, we found so many kind words in our accountants’ mailboxes, that we’ve just copied some of them below. 31 July 2015 – Provisional tax returns for companies with a January/July yearend.31 July 2015 – VAT201 deadline for June 2015 returns filed via efiling.24 July 2015 – VAT201 deadline for June 2015 returns filed manually.7 July 2015 – EMP201 deadline for June 2015 returns.1 July 2015 – Start of tax filing season.Gross profit % = (Selling price – cost price) / selling price x 100.Markup % = (Selling price – cost price) / cost price x 100.Gross profit is R50 but 33% of the selling price.Gross profit is the same amount expressed as a percentage of the selling price. Terminology speaking, markup percentage is the percentage difference between the actual cost and the selling price, while gross proft percentage is the percentage difference between the selling price and the profit. Markup and gross profit percentages are not the same and many business owners get them wrong! A clear understanding and application of the two within a pricing model can have a drastic impact on the bottom line. Thought BEE is difficult? Not when you small! Accounting 101: Markup vs Gross Profit Percentage 51% or more black owned EME – level 2 statusĪn EME does not need a BEE certificate an EME must however produce an affidavit declaring their turnover is less than R10 million and what their black ownership percentage is.100% black owned EME – level 1 BEE status.With the new B-BBEE Codes of Good Practice gazetted on 11 October 2013, enterprises with an annual turnover less than R10 million qualify as an Exempted Micro Enterprise (EME) and are exempted from being measured on a BEE scorecard.Īny EME automatically qualifies as follows: This has been a regulatory requirement for the past two years. Taxpayers who use the services of a tax practitioner should ensure that the individual is registered with one of the recognised controlling bodies as well as SARS. Non-provisional taxpayers (most taxpayers fall into this category) who submit their tax returns manually or via the post, have to do so by 30 September 2015 and by 27 November 2015 if they are filing via the eFiling system.Īnd if you are a provisional tax payer, you have until 29 January 2016 to submit your return. SARS’ annual tax filing season started on 1 July 2015.Īn individual taxpayer whose total annual salary from one employer did not exceed R350,000 during the 2015 tax year and who did not have any allowances, deductions or additional income do not have to file a tax return. The Beancounter Tax Filing Season is Open Thanks for the opportunity to be able to serve you. We are continiously striving to be better than what we were yesterday and we will never stop. And of course, successful business owners know they need to partner with successful service providers. We need to adapt, improve and outperform competitors. How is this possible when compared to the very low projected rate of 3% in South Africa?!Īny answer would be speculation but the opportunities are still out there. The result stunned us – 21,6% up year on year. We did our own study and randomly selected 15 clients and looked at their own growth in the last year. The economy is not showing any sign of improving, the rand hit a 13 year low against the surging dollar and Greece is hoping for another bailout. July already – 6 months gone and the year is on the downhill to December. As the great Jon Bon Jovi once sang in the hit Living on a Prayer: Woo-hoo we’re halfway there…
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