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Important Announcement: MBS is Going Remote!
We are excited to share that MBS will be transitioning to a remote working model, effective 31 January 2025. This move aligns with the WVDW Group's proven client-serving model, designed to enhance convenience and ensure peace of mind for our valued clients. Here’s...
Provisional Tax Payers Submissions In Progress
Individual tax payers please note the following information with regards to your tax submissions and their due dates for auto assessments, non-provisional tax payers, and provisional tax payers: • Auto assessments ended and acceptance or rejection of the auto...
Miss The Individual Tax Payers Deadline?
Individual tax payers please note the following information with regards to your tax submissions and their due dates for auto assessments, non-provisional tax payers, and provisional tax payers: • Auto assessments ended and acceptance or rejection of the auto...
Individual Tax Returns – Auto Assessments & Non-Provisional Returns & Provisional Returns
Individual tax payers please note the following information with regards to your tax submissions and their due dates for auto assessments, non-provisional tax payers, and provisional tax payers: Auto assessments ended and acceptance or rejection of the auto assessment...
Directors Guide 2024
The 2024 Directors Guide is a summary of some of the key issues affecting directors and officers of companies and provides an overview of relevant legislation pertaining to their office. Access the Directors Guide 2024 If you have any queries, please contact our...
WVDW Training Day
To our valued customers, Due to staff training, the WVDW/MBS team will be unavailable on Thursday 12 September 2024. Kindly e-mail or WhatsApp us and we will respond on Friday. Regards, WvdW Financial Services Inc
Our Exciting Partnership With Anchor Capital – Elevate Your Wealth
As part of our ongoing commitment to providing you with comprehensive financial solutions, we are thrilled to announce an exciting new partnership with Anchor, a premier wealth and asset management advisory firm. Take a look at the attached Anchor Capital leaflet for...
Trusts Tax Returns Reminder
Filing from 16 September 2024 till 20 January 2025. Trusts tax assistance by WVDW. If you have any queries, please contact our offices for assistance. 011 476 1112 info@wvdw.co.za #WVDW #WVDWFinancialServices #bookkeepers #accountants #Director #Regulatory #SARS...
Provisional Tax – Who, What & When
There is often the confusion around the different taxes, today we will focus on provisional tax. What is it? It is not a separate tax form income tax. It is a method of paying your (or your company’s) income tax liability in advance, to ensure that the taxpayer does...
New Penalty Rule For Personal Income Tax
The South African Revenue Service (SARS) sent a letter to stakeholders warning that it plans to get tougher on non-compliant taxpayers in South Africa. In the past SARS could only levy a late submission of return penalty where TWO or more tax returns are outstanding....
Meet The Team – Chantelle
Chantelle joined WvdW in 2024 as a bookkeeper. She acquired her BCom Financial Management degree in 2006. Her journey started with a demanding Human Capital Company which allowed her to specialise in all kinds of reconciliations. Throughout her career she is known to...
Urgent Notice! – Fraudulent Actions On e-Filing
There have been fraudulent actions on e-filing in the past few months. It does seem that these activities originate from within SARS, but SARS obviously categorically denied it. Emails or SMS alerting taxpayers to the requirement to authorise a change in their...
Are Your Tax Filings Proceeding Smoothly?
Your tax filings not proceeding as smoothly as you had hoped for? Do you have further accounting, investment and tax related queries, please contact our offices for assistance. 011 476 1112info@wvdw.co.za WVDW #WVDWFinancialServices #bookkeepers #accountants #Director...
Meet The Team – Yolandè
Yolandè Nel is a professional accountant at WVDW Financial Services Inc. with over 15 years of experience in the field. Her journey in finance began after obtaining a BComm Degree in 2008, followed by an Honours in Financial Accounting in 2012. Her academic...
Meet The Team – Unathi
Unathi Mamane is a Vibrant goal – oriented Professional Accountant at MBS Accounting and Taxation services. She holds a B-tech in Internal Auditing. Unathi is an affiliated member of the SA Institute of Professional Accountants and holds the designation of a...
Meet The Team – Tshiamo
Tshiamo Neo Botlhale Mabe is a Junior Accountant at MBS Accounting and Taxation Services. She pursued her academic journey at North West University, where she earned a Bachelor’s degree in Commerce with a specialization in Financial Accountancy. Keen on expanding her...
Meet The Team – Shinade
Shinade Branford is our meticulous and detail-oriented bookkeeper with a passion for numbers and a keen eye for accuracy, she ensures that every financial transaction is meticulously recorded and organized. Shinade expertise lies in maintaining accurate records,...
Meet The Team – Sabera
Sabera Essop is the receptionist and a bookkeeper/payroll administrator at MBS Accounting Services having joined a little over a year ago. Parallel to her learning the accounting field, Sabera is pursuing studies in Psychology. She is very sociable, fun-loving and has...
Meet The Team – Kaanita
Kaanita Alexander is the Senior Bookkeeper at MBS Accounting and Taxation Services. She was employed as a Junior Bookkeeper at MBS Accounting Services on 1 March 2011 and was promoted to Senior Bookkeeper in 2016. She is affiliated with ICBA, Institute of Certified...
Meet The Team – Jessica
Jessica Allison Spray is an experienced Senior Bookkeeper at WvdW Financial Services who has been employed with the company for over 14 years. Her responsibilities include financial record keeping, bank and credit card processing and reconciliations, invoice and...
Meet The Team – Daleen
Daleen Groen is a seasoned professional with over 20 years of experience in accounting and bookkeeping. Her career began in various accounts departments, where she gained experience in financial management and reporting. In 2013, she achieved a National Diploma in...
Meet The Team – Bianca
Bianca Roux a Registered Professional Accountant and Tax Practitioner at WvdW Financial Services. She is also involved in the internal workflow management of the firm. Bianca has a solid educational foundation that includes a degree in B.Comm Chartered Accounting, as...
Meet The Team – Annarien
Annarien Nel is a senior bookkeeper at WvdW Financial Services. She is a seasoned financial professional with a passion for numbers and a dedication to precision. She completed a BCom Financial Management degree in 2019 through part-time study, showcasing her...
Meet The Team – Marietjie
Marietjie Esterhuizen is a Director of WvdW Financial Services, a reputable firm originally founded in 1984 (initially under a different name). She is also a director of MBS Accounting and Taxation services, a niche firm situated in the south of Johannesburg....
Meet The Team – Tracey
Tracey embarked on her journey in the realm of accounting when she joined MBS Accounting Services as a bookkeeper in 1997. With a fervent desire to excel in her field, Tracey pursued a Damlin diploma in Bookkeeping, fortifying her foundational knowledge in finance. In...
Meet The Team – Wessie
Wessie van der Westhuizen is the Managing Director of WvdW Financial Services, a reputable firm originally founded in 1984 (initially under a different name). He is also the MD of MBS Accounting and Taxation services, a niche firm situated in the south of...
SARS & Your Bank Account
The South African Revenue Service (SARS) has a wealth of data about taxpayers, as evidenced by a recent High Court decision. The SA Revenue Service triumphed in CSARS v. M after SARS questioned a taxpayer about a discrepancy between what was on their tax...
Reviewing 2023 and Looking to 2024
2023 was a challenging year, but also a year of triumphs. In February 2023, the FATF (Financial Action Task Force) grey-listed South Africa. As a result, FICA obligations and compliance was enhanced, and accountable institutions strongly advise and encouraged to...
Compensation for Occupational Injuries and Diseases Act – COIDA
The Compensation for Occupational Injuries and Diseases Act (COIDA) is a South African law that provides compensation to employees who are injured or contract an occupational disease as a result of their employment. The Act also provides compensation to the dependents...
Changes To The Trusts Property Control Act
Beneficial-ownership disclosures required South Africa introduced new rules, effective from 1 April 2023, on requirements to disclose the beneficial ownership of assets. These measures were introduced in a new section (11A) in the Trust Property Control Act...
VAT And The Importance Of Your VAT Number
The SARS VAT invoice requirements Registering as a VAT vendor with SARS may seem daunting as it brings about new regulations that an entity needs to comply with. Let’s look at the SARS VAT Invoice Requirements to ensure you have all the correct information on...
WvdW Financial Services Expands Horizons with MBS Accounting PartnershipWvdW Financial Services Expands Horizons with MBS Accounting PartnershipWvdW Financial Services Expands Horizons with MBS Accounting Partnership
In a significant move that marks a milestone in its growth journey, WvdW Financial Services, a prominent financial services company in South Africa, has partnered with MBS Accounting, a smaller but highly regarded practice. This partnership represents a strategic move...
Starting a new small business in South Africa?
Any new business venture stars with executing a great business plan and it goes hand in hand with regulatory requirements. Herewith a list of requirements that new business owners in South Africa need to look at when starting down the entrepreneurial path: REGISTERING...
Turnover Tax
Turnover tax is a simplified system aimed at making it easier for micro business to meet their tax obligations and is for micro business with turnover below R1 million. This tax system replaces Income Tax, VAT, Provisional Tax, Capital Gains Tax and Dividends Tax. A...
Personal Income Tax
With the deadline of the submission for normal taxpayers coming up, we would like to draw attention to what personal income tax entails. The tax deadlines for the submission of personal income tax are: Individual taxpayers – 23 October 2023 Provisional taxpayers – 24...
Last Will & Testament – Wills Week 2023
Do you have a will? Do you care and look after others that my not be a relative? If you want someone to be a beneficiary of your estate, especially when they are not directly related to you, you need to expressly mention them in your will as a beneficiary. (Allex...
Tax Emigration & Non-Tax Residency
“Many think that by merely not living in South Africa currently, they are therefore not a tax resident of SA. This is an extreme over-simplification and has got many in trouble with SARS in the past.” What is financial emigration at SARS? The process of Financial...
Take Care With VAT Submissions
In the Johannesburg Specialised Commercial Crimes Court, Anwar Gaffor and his company, Ceiling and Partitioner Installers (PTY) Limited, were charged with three charges of fraud. The accused submitted fraudulent Value Added Tax (VAT) 201 returns to the South African...
16 Steps To Winding-Up A Deceased Estate
The administration of a loved one's estate might become much more traumatic if you are unprepared for the practical realities of death. Because systems need time to restart, load shedding makes the winding-up process more drawn-out, laborious, and bureaucratic....
Beneficial Ownership Register
Companies must adhere to the new "Beneficial Ownership Register" platform that has been released by the Companies and Intellectual Property Commission (CIPC). Businesses must now notify the CIPC of their beneficial ownership by October 2023 in response to concerns...
Trust Guide 2023 – Fact Sheet
This guide is designed for anyone involved with trusts: trust creators, trustees, beneficiaries and advisors. It provides a clear and concise summary of the necessary information for the development of a basic understanding of trusts in South Africa. The role of a...
SARS Commitments, Your Rights, Obligations and Service Levels Standards
Author: Marianne Steinmann Taxpayer Rights and Obligations You have a RIGHT to:You have an OBLIGATION to:• Clarity and certainty (to be informed) of obligations to SARS• Timeously engage, register...
Provisional Tax 2024
Author: Marietjie Esterhuizen There is often the confusion around the different taxes, today we will focus on provisional tax. What is it? It is not a separate tax form income tax. It is a method of paying your (or your company’s) income tax liability in advance, to...
Being A Good Corporate Citizen
Author: Wessie van der Westhuizen Are you a business owners, a director, or senior manager? This article is for you. Being a good corporate citizen means that a company operates in a way that benefits not only its shareholders and customers, but also the communities...
Individual Tax Payers Filing Season 2023
The South African Revenue Service (SARS) will open the 2023 tax filing season on 7 July 2023 for taxpayers to submit their income tax returns for the 2023 tax year. Aut0-assessments commence end June 2023. Timing 30 June 2023 SARS will start issuing auto-assessments...
Workmen’s Compensation – Compulsory Form Of Employee Insurance
Author: Marianne Steinmann Are you a bookkeepers, an accountant, a business owners, a director, or do you employ domestic workers in your home? This article is for you. Register with the Compensation Fund To cover your workers against occupational diseases,...
DO YOU HAVE A WILL?
Do you care and look after others that my not be a relative? If you want someone to be a beneficiary of your estate, especially when they are not directly related to you, you need to expressly mention them in your will as a beneficiary. We saw lately in the news how...
HOME OFFICE EXPENSES
HOME OFFICE EXPENSES Working from home seems to be the “New Normal” since the Corona virus outbreak. If you worked from home for more than half of your total working hours or for more than 6 months during the tax year March 2020 to February 2021 you can...
VAT: Irrecoverable Debts And Clawback Adjustment
VAT: Irrecoverable debts and clawback adjustment A registered VAT vendor on the invoice basis that fails to make payment within 12 months after the expiry of the tax period in which the deduction was made must account for an output tax adjustment to SARS...
RETRENCHMENT AND TAX
HAVE YOU OR SOMEONE YOU KNOW RECENTLY BEEN RETRENCHED? PERHAPS DUE TO COVID? Have a quick read about the tax implications upon retrenchment:As from 1 March 2014, the first R 500 000 received for a severance benefit lump sum pay-out, is not subject to tax. This...
STORAGE OF RECORDS
We regularly receive inquiries about how long documents should be stored. In terms of the Income Tax Act and Value Added Tax Act, tax payers should keep documents in their original form or electronic format as prescribed by die Commissioner. The...
Foreign Assets And SARS
Each individual taxpayer is allowed to invest R10 million per year offshore if you have a tax clearance certificate. In addition to that, you may invest R1 million per calendar year as part of your discretionary allowance. Any interest, capital...