SARS EMP501 Interim Reconciliation
13 October 2021

SARS EMP501 Interim Reconciliation

What is an EMP501 reconciliation?
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Provision for bonuses
28 September 2021

Provision for bonuses

Employee bonuses provides compensation beyond annual salary to employees as an incentive or reward for reaching certain predetermined individual or team goals. The purpose of an employee bonus is to provide recognition for employees who have gone...
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The importance of updating your will regularly
22 September 2021

The importance of updating your will regularly

Having a valid and a well-executed Will is very important. A Will provides a person with the certainty and comfort of knowing that in the case of death, the assets that have been accumulated during a person’s  lifetime will be distributed according...
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RSM South Africa CEO Dieter Schulze
17 September 2021

Appointment of new CEO

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Classification of liabilities as current or non-current-amendments to IAS 1
27 August 2021

Classification of liabilities as current or non-current-amendments to IAS 1

Following a significant number of responses to an IFRIC Tentative Agenda Decision, the IASB discussed the proposed 2020 amendments at its June 2021 board meeting where it decided to further amend IAS 1.
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IFRS 16 - Accounting for VAT on lease payments by lessees
27 August 2021

IFRS 16 - Accounting for VAT on lease payments by lessees

FRS 16 Leases requires that the right of use asset (ROU) and the lease liability should initially be measured at the present value of the minimum lease payments (MLPs). IFRIC were asked to consider how irrecoverable Value Added Tax (VAT) charged on...
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G20 and OECD: The future of the global tax system
27 August 2021

G20 and OECD: The future of the global tax system

The OECD recently issued a Statement on a “Two Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy”. The OECD/G20 Inclusive Framework, agreed to by more than 130 countries is the OCED’s and G20’s vision for...
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Restraints of trade in light of recent judgments | RSM
26 August 2021

Restraints of trade in light of recent judgments

There is a common assumption among employees (and many employers) that restraint of trade covenants are invalid and unenforceable especially in light of the right for South Africa citizens to choose their trade, occupation, or profession freely as...
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Covid-19 vaccination status and data privacy
13 August 2021

Covid-19 vaccination status and data privacy

The COVID-19 pandemic has brought significant changes in the way that ordinary people attend to their daily activities. Initially, the changes in behaviour were abrupt and disrupting, but as time progressed it seems as if the changes necessitated by...
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Limitation of assessed losses | RSM tax update
13 August 2021

Limitation of assessed losses

The release of the 2021 Draft Taxation Laws Amendment Bill (Draft TLAB) and the 2021 Draft Tax Administration Laws Amendment Bill (Draft TALAB) at the end of July will result in corporate taxpayers crunching hard at their numbers.
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