Section 42: Asset-for-Share Transaction
Written by: Max Azer What is it?: Section 42 of the Income Tax Act, No. 58 of 1962 provides a corporate relief (deferral) mechanism commonly referred to as an asset for-share transaction. In substance, this entails a transaction where a person (natural person, trust or company) disposes of his assets to a South African tax […]
Greylisting’s Grip: SARS, Master & CIPC Demand More from South African Residents
South Africa’s greylisting by the Financial Action Task Force (FATF) in February 2023 has sent ripples through the nation’s financial landscape, impacting individuals and businesses alike. Among the most noticeable changes are the intensified scrutiny and increased information demands from key regulatory bodies, particularly the South African Revenue Service (SARS), the Master of the High […]
The Finleys Approach: Guiding your business towards sustainable prosperity
Running a business is no easy task, and the decisions you make can significantly impact your company’s success or failure. While every business owner strives for prosperity, not everyone possesses the expertise to navigate the complex world of finance and strategic planning. This is where Finleys comes in—our full-service, professional, and internationally-minded team specialises in […]
Turn your challenges into opportunities
South African businesses are currently grappling with a range of pressing challenges that are impacting their operations and growth. These challenges include a weak economy, a shifting job market, loadshedding, rapid technological advancements, and the need to address sustainability considerations. To overcome these obstacles and thrive in this complex environment, business owners must implement effective […]
SARS medical scheme fees tax credits for individuals (medical and disability expenses)
In South Africa, individuals are required to assess their personal income tax obligations annually. As part of this income tax calculation, taxpayers need to determine their medical scheme fees tax credit, also known as medical tax rebates. In the South African tax system, personal expenses are typically not considered when calculating an individual’s income tax […]
Stellenbosch Network – A vibrant hub of innovation and collaboration
Finleys takes pride in offering exceptional business and accounting solutions to clients across the country. This month, we are delighted to introduce you to one of our esteemed clients: Stellenbosch Network. Located in the heart of South Africa, Cape Town shines as a leading hub of innovation and technological advancement. The city boasts a thriving […]
Accelerating business growth with Finleys: Get the competitive edge!
Achieving sustainable business growth is a goal for every entrepreneur. However, it requires a strategic approach that focuses on streamlined processes, scalability, and establishing a competitive edge. At Finleys, we offer business advisory services that provide the expertise and guidance needed to expedite your company’s growth. By leveraging our experience and knowledge, you can navigate […]
Setting your new business up for success: Financial forecasting and expert guidance
Starting a new business requires careful planning and preparation. To increase your chances of success from the start, seek business advice and strategies from Finleys. Our expert advice is designed to help you make informed decisions, achieve strategic goals, and ensure sustainable growth. Financial forecasting for new businesses: Financial forecasting plays a crucial role in […]
Trustees take note: Important amendments to SA Trust Law
On 31 March 2023, the Department of Justice and Constitutional Development issued a special Regulation Gazette No. 11566 in Government Gazette No. 48351, outside regular business hours. This Gazette contains amendments to the regulations under the Trust Property Control Act, 57 of 1988 (TPCA), which align with the amendments made to the act by the […]
Tailored solutions for your unique business needs
Finleys offers comprehensive accounting, processing, and payroll management services to businesses of all sizes. Our expert team ensures that your financial transactions are accurately recorded and managed, providing you with the insights you need to make informed decisions and plan for the future. We specialise in processing day-to-day transactions, managing debtors and creditors, and producing […]